Is 98250, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 98250 is a buyer's market

Buyer's
Market

Difference Since December 2023

Since last year, 98250 has remained a Buyer's Market.

Key Takeaway

98250 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 98250, WA

How much do homes in 98250, WA cost?

Median Sold Price

$842,000

$490/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

-$23,000(-2.7%)

Key Takeaway

Homes in 98250 have sold for 2.7% less than they did a year ago.

Summary: The median home sold price in 98250 was $842,000 in December 2024, down 2.7% from last year, and the median price per square foot was $490.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $838K$641K
-23.5%
2 $747.5K$720K
-3.7%
3 $865K$905K
+4.6%
4 $1.4M$1.0M
-28.5%
5+ $1.1M$2.4M
+113.9%

Summary: 98250 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 23.5%, 2 bedroom homes decreased by 3.7%, 3 bedroom homes increased by 4.6%, 4 bedroom homes decreased by 28.5%, and 5+ bedroom homes increased by 113.9%.

Median Sold Price Compared To Nearby Zip Codes

98250
-2.7%
98245
-5.7%

Housing Supply in 98250, WA

How many homes are available in 98250, WA?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
76760.0%

Summary: The 98250 real estate market had 76 homes for sale in December 2024, the same as November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 78
+14.3%
2 2624
-7.7%
3 3333
0.0%
4 67
+16.7%
5+ 44
0.0%

Summary: The 98250 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes decreased by 7.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
89+12.5%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 98250, expect to pay close to the asking price. 55.6% of homes here sold near the asking price last month.

Summary: A total of 9 homes were sold or pending in 98250 in December 2024, up by 12.5% month-over-month. Of the 9 sold homes, 44% were sold under asking, 56% were sold at asking, and 0% were sold over asking.

Days on Market for 98250, WA

How long does it take to sell a home in 98250, WA?

Average Sale Time

Dec 2023Dec 2024CHANGE
84 Days118 Days+40.7%

Summary: Homes in 98250 had an average of 118 days on market in Dec 2024, up by 40.7% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 98250 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During December 2024, 9 homes were sold in 98250; 22% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

Newest Listings in 98250, WA

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