Is 98642, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 98642 is a seller's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 98642 was a Neutral Market.

Key Takeaway

98642 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 98642, WA

How much do homes in 98642, WA cost?

Median Sold Price

$613,700

$287/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$2,867(+0.5%)

Key Takeaway

The sold price of homes in 98642 has remained the same since last year.

Summary: The median home sold price in 98642 was $613,700 in October 2024, up 0.5% from last year, and the median price per square foot was $287.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$435K
N/A
2 $428.9K$461K
+7.5%
3 $507.8K$559.9K
+10.3%
4 $674.9K$652.2K
-3.4%
5+ $775K$863.8K
+11.5%

Summary: 98642 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 7.5%, 3 bedroom homes increased by 10.3%, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes increased by 11.5%.

Median Sold Price Compared To Nearby Zip Codes

98686
+6.9%
98685
+3.5%
98642
0.5%
98629
-1.7%
98604
-2.4%

Housing Supply in 98642, WA

How many homes are available in 98642, WA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
343326-5.0%

Summary: The 98642 real estate market had 326 homes for sale in October 2024, a 5.0% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 99
0.0%
3 146142
-2.7%
4 142136
-4.2%
5+ 4538
-15.6%

Summary: The 98642 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 remained the same, 3 bedroom homes decreased by 2.7%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes decreased by 15.6%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
6163+3.3%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

31 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 98642, expect to pay close to the asking price. 49.2% of homes here sold near the asking price last month.

Summary: A total of 63 homes were sold or pending in 98642 in October 2024, up by 3.3% month-over-month. Of the 63 sold homes, 30% were sold under asking, 49% were sold at asking, and 21% were sold over asking.

Days on Market for 98642, WA

How long does it take to sell a home in 98642, WA?

Average Sale Time

Oct 2023Oct 2024CHANGE
61 Days72 Days+18.9%

Summary: Homes in 98642 had an average of 72 days on market in Oct 2024, up by 18.9% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

20 Homes Were Sold
In 30 - 90 Days

19 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 98642 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 63 homes were sold in 98642; 38% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 30% 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

Newest Listings in 98642, WA

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