Is 98848, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 98848 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 98848 was a Seller's Market.

Key Takeaway

98848 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 98848, WA

How much do homes in 98848, WA cost?

Median Sold Price

$415,750

$255/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$31,355(+8.2%)

Key Takeaway

Homes in 98848 have sold for 8.2% more than they did a year ago.

Summary: The median home sold price in 98848 was $415,750 in October 2024, up 8.2% from last year, and the median price per square foot was $255.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $293K$180K
-38.6%
2 $532.5K$480K
-9.9%
3 $376K$413K
+9.8%
4 $393.6K$442.5K
+12.4%
5+ $460K$527.5K
+14.7%

Summary: 98848 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 38.6%, 2 bedroom homes decreased by 9.9%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 12.4%, and 5+ bedroom homes increased by 14.7%.

Median Sold Price Compared To Nearby Zip Codes

98848
+8.2%
98823
+4.5%
98828
+3.7%

Housing Supply in 98848, WA

How many homes are available in 98848, WA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7681+6.6%

Summary: The 98848 real estate market had 81 homes for sale in October 2024, a 6.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1111
0.0%
2 1818
0.0%
3 3034
+13.3%
4 1516
+6.7%
5+ 22
0.0%

Summary: The 98848 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 increased by 13.3%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
510+100.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 98848, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in 98848 in October 2024, up by 100.0% month-over-month. Of the 10 sold homes, 80% were sold under asking, 10% were sold at asking, and 10% were sold over asking.

Days on Market for 98848, WA

How long does it take to sell a home in 98848, WA?

Average Sale Time

Oct 2023Oct 2024CHANGE
59 Days104 Days+76.3%

Summary: Homes in 98848 had an average of 104 days on market in Oct 2024, up by 76.3% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 98848 has remained consistent over time.

Summary: During October 2024, 10 homes were sold in 98848; 20% of homes were sold within 30 days, 50% 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 13 Days Ago

Newest Listings in 98848, WA

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