Is 98685, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 98685 is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 98685 was a Seller's Market.

Key Takeaway

98685 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 98685, WA

How much do homes in 98685, WA cost?

Median Sold Price

$595,000

$286/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$10,531(+1.8%)

Key Takeaway

Homes in 98685 have sold for 1.8% more than they did a year ago.

Summary: The median home sold price in 98685 was $595,000 in November 2024, up 1.8% from last year, and the median price per square foot was $286.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 -$400K
N/A
2 $347K$350K
+0.9%
3 $502.4K$547.2K
+8.9%
4 $660K$675K
+2.3%
5+ $917.5K$762K
-16.9%

Summary: 98685 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 0.9%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes decreased by 16.9%.

Median Sold Price Compared To Nearby Zip Codes

98686
+7.0%
98685
+1.8%
98642
+1.7%
98665
+1.1%

Housing Supply in 98685, WA

How many homes are available in 98685, WA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
144134-6.9%

Summary: The 98685 real estate market had 134 homes for sale in November 2024, a 6.9% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 2225
+13.6%
3 4236
-14.3%
4 5048
-4.0%
5+ 3025
-16.7%

Summary: The 98685 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 increased by 13.6%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes decreased by 16.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2614-46.2%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 98685, you may be able to get a good deal. 35.7% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in 98685 in November 2024, down by 46.2% month-over-month. Of the 14 sold homes, 36% were sold under asking, 36% were sold at asking, and 29% were sold over asking.

Days on Market for 98685, WA

How long does it take to sell a home in 98685, WA?

Average Sale Time

Nov 2023Nov 2024CHANGE
39 Days21 Days-45.1%

Summary: Homes in 98685 had an average of 21 days on market in Nov 2024, down by 45.1% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 98685 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 14 homes were sold in 98685; 64% of homes were sold within 30 days, 36% 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 98685, WA

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