Is 98620, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 98620 is a seller's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 98620 was a Neutral Market.

Key Takeaway

98620 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 98620, WA

How much do homes in 98620, WA cost?

Median Sold Price

$320,000

$236/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$10,000(+3.2%)

Key Takeaway

Homes in 98620 have sold for 3.2% more than they did a year ago.

Summary: The median home sold price in 98620 was $320,000 in October 2024, up 3.2% from last year, and the median price per square foot was $236.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$249K
N/A
2 $227K$269.6K
+18.8%
3 $310K$389K
+25.5%
4 $383.1K$320.5K
-16.4%
5+ $523K$410K
-21.6%

Summary: 98620 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 18.8%, 3 bedroom homes increased by 25.5%, 4 bedroom homes decreased by 16.4%, and 5+ bedroom homes decreased by 21.6%.

Housing Supply in 98620, WA

How many homes are available in 98620, WA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4243+2.4%

Summary: The 98620 real estate market had 43 homes for sale in October 2024, a 2.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 22
0.0%
2 1213
+8.3%
3 1821
+16.7%
4 85
-37.5%
5+ 22
0.0%

Summary: The 98620 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 8.3%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 37.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
39+200.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 98620, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in 98620 in October 2024, up by 200.0% month-over-month. Of the 9 sold homes, 44% were sold under asking, 44% were sold at asking, and 11% were sold over asking.

Days on Market for 98620, WA

How long does it take to sell a home in 98620, WA?

Average Sale Time

Oct 2023Oct 2024CHANGE
39 Days54 Days+38.7%

Summary: Homes in 98620 had an average of 54 days on market in Oct 2024, up by 38.7% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 98620 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 9 homes were sold in 98620; 44% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 22% 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 4 Days Ago

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