Is 98294, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 98294 is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 98294 was a Seller's Market.

Key Takeaway

98294 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 98294, WA

How much do homes in 98294, WA cost?

Median Sold Price

$536,490

$276/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$16,490(+3.2%)

Key Takeaway

Homes in 98294 have sold for 3.2% more than they did a year ago.

Summary: The median home sold price in 98294 was $536,490 in November 2024, up 3.2% from last year, and the median price per square foot was $276.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $363K-
N/A
2 $368K$406K
+10.3%
3 $500K$515.9K
+3.2%
4 $569.9K$576.9K
+1.2%
5+ $602.1K$560.5K
-6.9%

Summary: 98294 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes decreased by 6.9%.

Median Sold Price Compared To Nearby Zip Codes

98251
+6.2%
98272
+4.6%
98294
+3.2%
98252
+1.0%
98290
-0.4%

Housing Supply in 98294, WA

How many homes are available in 98294, WA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
3938-2.6%

Summary: The 98294 real estate market had 38 homes for sale in November 2024, a 2.6% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 23
+50.0%
3 2020
0.0%
4 1512
-20.0%
5+ 23
+50.0%

Summary: The 98294 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
105-50.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 98294, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in 98294 in November 2024, down by 50.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 40% were sold at asking, and 0% were sold over asking.

Days on Market for 98294, WA

How long does it take to sell a home in 98294, WA?

Average Sale Time

Nov 2023Nov 2024CHANGE
21 Days38 Days+75.6%

Summary: Homes in 98294 had an average of 38 days on market in Nov 2024, up by 75.6% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 98294 has remained consistent over time.

Summary: During November 2024, 5 homes were sold in 98294; 40% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 0% 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 24 Days Ago

Newest Listings in 98294, WA

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