Is 98611, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 98611 is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, 98611 has remained a Seller's Market.

Key Takeaway

98611 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 98611, WA

How much do homes in 98611, WA cost?

Median Sold Price

$455,000

$264/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$5,000(-1.1%)

Key Takeaway

Homes in 98611 have sold for 1.1% less than they did a year ago.

Summary: The median home sold price in 98611 was $455,000 in November 2024, down 1.1% from last year, and the median price per square foot was $264.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $385K-
N/A
2 $268K$399.9K
+49.2%
3 $472.5K$443.5K
-6.1%
4 $560K$590K
+5.4%
5+ $522.5K$615K
+17.7%

Summary: 98611 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 49.2%, 3 bedroom homes decreased by 6.1%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 17.7%.

Median Sold Price Compared To Nearby Zip Codes

98645
+6.5%
98626
+4.1%
98632
0.5%
98611
-1.1%

Housing Supply in 98611, WA

How many homes are available in 98611, WA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
8267-18.3%

Summary: The 98611 real estate market had 67 homes for sale in November 2024, a 18.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 44
0.0%
2 1211
-8.3%
3 3928
-28.2%
4 2117
-19.0%
5+ 67
+16.7%

Summary: The 98611 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 decreased by 8.3%, 3 bedroom homes decreased by 28.2%, 4 bedroom homes decreased by 19%, and 5+ bedroom homes increased by 16.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2017-15.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 98611, you could pay more than the asking price. 41.2% of homes here sold above asking price last month.

Summary: A total of 17 homes were sold or pending in 98611 in November 2024, down by 15.0% month-over-month. Of the 17 sold homes, 29% were sold under asking, 29% were sold at asking, and 41% were sold over asking.

Days on Market for 98611, WA

How long does it take to sell a home in 98611, WA?

Average Sale Time

Nov 2023Nov 2024CHANGE
64 Days19 Days-70.2%

Summary: Homes in 98611 had an average of 19 days on market in Nov 2024, down by 70.2% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 98611 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 17 homes were sold in 98611; 76% of homes were sold within 30 days, 24% 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 21 Days Ago

Newest Listings in 98611, WA

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