Is Puget Island, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Puget Island is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Puget Island has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Puget Island, WA

How much do homes in Puget Island, WA cost?

Median Sold Price

$574,000

$198/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$21,000(-3.5%)

Key Takeaway

Homes in Puget Island have sold for 3.5% less than they did a month ago.

Summary: The median home sold price in Puget Island was $574,000 in October 2024, down 3.5% from last month, and the median price per square foot was $198.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 --
N/A
3 $370K$574K
+55.1%
4 $595K-
N/A
5+ $365K-
N/A

Summary: Puget Island housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 55.1%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Puget Island, WA

How many homes are available in Puget Island, WA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
159-40.0%

Summary: The Puget Island real estate market had 9 homes for sale in October 2024, a 40.0% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 22
0.0%
3 75
-28.6%
4 52
-60.0%
5+ 10
-100.0%

Summary: The Puget Island 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 28.6%, 4 bedroom homes decreased by 60%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
52-60.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Puget Island, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Puget Island in October 2024, down by 60.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Puget Island, WA

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

Average Sale Time

Sep 2024Oct 2024CHANGE
61 Days122 Days+98.1%

Summary: Homes in Puget Island had an average of 122 days on market in Oct 2024, up by 98.1% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Puget Island are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During October 2024, 2 homes were sold in Puget Island; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% 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 Puget Island, WA

Nearby Markets to Puget Island, WA