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 5 Days Ago

Newest Listings in 98591, WA

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