$9,441 Closing Credit*
$795,000
2,835 SqFt
3 Beds
•1 Full Bath, 1 Partial
JR Poulsen, Listing Office: Better Properties UP/Fircrest
Is University Place, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, University Place has remained a Seller's Market.
Key Takeaway
University Place is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in University Place, WA
How much do homes in University Place, WA cost?
Median Sold Price
$630,000
$337/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$20,000(+3.3%)
Key Takeaway
Homes in University Place have sold for 3.3% more than they did a year ago.
Summary: The median home sold price in University Place was $630,000 in November 2024, up 3.3% from last year, and the median price per square foot was $337.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $267.5K | $341.9K | +27.8% |
| 2 Bedrooms | $399K | $417.5K | +4.6% |
| 3 Bedrooms | $600K | $620K | +3.3% |
| 4 Bedrooms | $676K | $736.5K | +8.9% |
| 5+ Bedrooms | $825K | $829K | 0.5% |
Summary: University Place housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.8%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 0.5%.
Median Sold Price Compared To Nearby Cities
| Tacoma | $450.1K | $480.3K | +6.7% |
| Lakewood | $489.3K | $510K | +4.2% |
| University Place | $610K | $630K | +3.3% |
| Fircrest | $608.7K | $613.5K | +0.8% |
| Steilacoom | $705K | $650K | -7.8% |
Housing Supply in University Place, WA
How many homes are available in University Place, WA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 87 | 93 | +6.9% |
Summary: The University Place real estate market had 93 homes for sale in November 2024, a 6.9% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 20 | 24 | +20.0% |
| 3 Bedrooms | 30 | 27 | -10.0% |
| 4 Bedrooms | 26 | 30 | +15.4% |
| 5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The University Place housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 20%, 3 bedroom homes decreased by 10%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 26 | 19 | -26.9% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in University Place, expect to pay close to the asking price. 42.1% of homes here sold near the asking price last month.
Summary: A total of 19 homes were sold or pending in University Place in November 2024, down by 26.9% month-over-month. Of the 19 sold homes, 26% were sold under asking, 42% were sold at asking, and 32% were sold over asking.
Days on Market for University Place, WA
How long does it take to sell a home in University Place, WA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 19 Days | 35 Days | +84.8% |
Summary: Homes in University Place had an average of 35 days on market in Nov 2024, up by 84.8% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in University Place are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 19 homes were sold in University Place; 68% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.