Is Federal Way-Auburn, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Federal Way-Auburn has remained a Seller's Market.
Housing Prices in Federal Way-Auburn, WA
How much do homes in Federal Way-Auburn, WA cost?
Median Sold Price
$556,205
$322/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Federal Way-Auburn was $556,205 in May 2024, up 2.1% from last year, and the median price per square foot was $322.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $219.9K | $220.5K | 0.2% |
2 Bedrooms | $335K | $335K | 0.0% |
3 Bedrooms | $518.8K | $541.5K | +4.4% |
4 Bedrooms | $649.9K | $668.5K | +2.8% |
5+ Bedrooms | $725K | $750K | +3.4% |
Summary: Federal Way-Auburn housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.2%, 2 bedroom homes did not change, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 3.4%.
Median Sold Price Compared To Nearby Cities
Federal Way | $550.5K | $576.2K | +4.7% |
Federal Way-Auburn | $544.7K | $556.2K | +2.1% |
Pacific | $515K | $525K | +1.9% |
Algona | $455.4K | $459K | +0.8% |
Auburn | $593.6K | $587.4K | -1.0% |
Housing Supply in Federal Way-Auburn, WA
How many homes are available in Federal Way-Auburn, WA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
408 | 501 | +22.8% |
Summary: The Federal Way-Auburn real estate market had 501 homes for sale in May 2024, a 22.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 13 | 15 | +15.4% |
2 Bedrooms | 60 | 73 | +21.7% |
3 Bedrooms | 163 | 199 | +22.1% |
4 Bedrooms | 117 | 157 | +34.2% |
5+ Bedrooms | 55 | 57 | +3.6% |
Summary: The Federal Way-Auburn housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15.4%, 2 bedroom homes increased by 21.7%, 3 bedroom homes increased by 22.1%, 4 bedroom homes increased by 34.2%, and 5+ bedroom homes increased by 3.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
112 | 127 | +13.4% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
38 Homes Were Sold
At Asking
65 Homes Were Sold
Over Asking
Summary: A total of 127 homes were sold or pending in Federal Way-Auburn in May 2024, up by 13.4% month-over-month. Of the 127 sold homes, 19% were sold under asking, 30% were sold at asking, and 51% were sold over asking.
Days on Market for Federal Way-Auburn, WA
How long does it take to sell a home in Federal Way-Auburn, WA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
20 Days | 17 Days | -16.2% |
Summary: Homes in Federal Way-Auburn had an average of 17 days on market in May 2024, down by 16.2% compared to last year.
Breakdown of Home Sale Times
108 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During May 2024, 127 homes were sold in Federal Way-Auburn; 85% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.