Is 98591, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 98591 is a seller's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 98591 was a Buyer's Market.

Key Takeaway

98591 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 98591, WA

How much do homes in 98591, WA cost?

Median Sold Price

$490,000

$278/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$60,000(-10.9%)

Key Takeaway

Homes in 98591 have sold for 10.9% less than they did a year ago.

Summary: The median home sold price in 98591 was $490,000 in October 2024, down 10.9% from last year, and the median price per square foot was $278.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $530K$290K
-45.3%
2 $412.5K$320K
-22.4%
3 $580K$520K
-10.3%
4 $665K$586K
-11.9%
5+ $550K$952K
+73.1%

Summary: 98591 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 45.3%, 2 bedroom homes decreased by 22.4%, 3 bedroom homes decreased by 10.3%, 4 bedroom homes decreased by 11.9%, and 5+ bedroom homes increased by 73.1%.

Median Sold Price Compared To Nearby Zip Codes

98611
+6.8%
98596
+4.9%
98591
-10.9%

Housing Supply in 98591, WA

How many homes are available in 98591, WA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4038-5.0%

Summary: The 98591 real estate market had 38 homes for sale in October 2024, a 5.0% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 44
0.0%
2 78
+14.3%
3 2017
-15.0%
4 55
0.0%
5+ 44
0.0%

Summary: The 98591 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 14.3%, 3 bedroom homes decreased by 15%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
770.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 98591, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in 98591 in October 2024, the same as the previous month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.

Days on Market for 98591, WA

How long does it take to sell a home in 98591, WA?

Average Sale Time

Oct 2023Oct 2024CHANGE
100 Days81 Days-18.4%

Summary: Homes in 98591 had an average of 81 days on market in Oct 2024, down by 18.4% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 98591 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During October 2024, 7 homes were sold in 98591; 29% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 43% 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 21 Days Ago

Newest Listings in 98591, WA

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