Is King County, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing King County is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in King County, WA

How much do homes in King County, WA cost?

Median Sold Price

$860,421

$512/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$67,941(+8.6%)

Key Takeaway

Homes in King County have sold for 8.6% more than they did a year ago.

Summary: The median home sold price in King County was $860,421 in October 2024, up 8.6% from last year, and the median price per square foot was $512.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $399.9K$414.6K
+3.7%
2 $599.9K$625.3K
+4.2%
3 $787.2K$838.3K
+6.5%
4 $1.0M$1.2M
+13.1%
5+ $1.4M$1.5M
+12.7%

Summary: King County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.7%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 13.1%, and 5+ bedroom homes increased by 12.7%.

Median Sold Price Compared To Nearby Counties

King County
+8.6%
Chelan County
+7.4%
Snohomish County
+5.4%
Pierce County
+5.2%
Kittitas County
-4.0%

Housing Supply in King County, WA

How many homes are available in King County, WA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
8,3168,993+8.1%

Summary: The King County real estate market had 8,993 homes for sale in October 2024, a 8.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 686782
+14.0%
2 1,8582,149
+15.7%
3 2,6162,814
+7.6%
4 2,1462,226
+3.7%
5+ 1,0101,022
+1.2%

Summary: The King County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14%, 2 bedroom homes increased by 15.7%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 1.2%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1,9082,332+22.2%

Asking Price vs. Sold Price

963 Homes Were Sold
Under Asking

668 Homes Were Sold
At Asking

701 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in King County, you may be able to get a good deal. 41.3% of homes here sold below asking price last month.

Summary: A total of 2,332 homes were sold or pending in King County in October 2024, up by 22.2% month-over-month. Of the 2,332 sold homes, 41% were sold under asking, 29% were sold at asking, and 30% were sold over asking.

Days on Market for King County, WA

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

Average Sale Time

Oct 2023Oct 2024CHANGE
29 Days32 Days+10.4%

Summary: Homes in King County had an average of 32 days on market in Oct 2024, up by 10.4% compared to last year.

Breakdown of Home Sale Times

1,542 Homes Were Sold
Under 30 Days

558 Homes Were Sold
In 30 - 90 Days

232 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 2332 homes were sold in King County; 66% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 10% 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 16 Days Ago

Newest Listings in King County, WA

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