Is Federal Way, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Federal Way has remained a Seller's Market.
Housing Prices in Federal Way, WA
How much do homes in Federal Way, WA cost?
Median Sold Price
$575,000
$313/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Federal Way was $575,000 in April 2024, up 4.5% from last year, and the median price per square foot was $313.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $220K | $232.5K | +5.7% |
2 Bedrooms | $318.9K | $320K | 0.3% |
3 Bedrooms | $530K | $550K | +3.8% |
4 Bedrooms | $655K | $685K | +4.6% |
5+ Bedrooms | $727.5K | $750K | +3.1% |
Summary: Federal Way housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.7%, 2 bedroom homes increased by 0.3%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes increased by 3.1%.
Median Sold Price Compared To Nearby Cities
Milton | $517K | $600K | +16.1% |
Federal Way | $550K | $575K | +4.5% |
Federal Way-Auburn | $544.6K | $558.5K | +2.6% |
Des Moines | $565.6K | $568.9K | +0.6% |
Auburn | $590.2K | $585K | -0.9% |
Housing Supply in Federal Way, WA
How many homes are available in Federal Way, WA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
182 | 219 | +20.3% |
Summary: The Federal Way real estate market had 219 homes for sale in April 2024, a 20.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 10 | +66.7% |
2 Bedrooms | 31 | 32 | +3.2% |
3 Bedrooms | 61 | 74 | +21.3% |
4 Bedrooms | 53 | 68 | +28.3% |
5+ Bedrooms | 31 | 35 | +12.9% |
Summary: The Federal Way housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 21.3%, 4 bedroom homes increased by 28.3%, and 5+ bedroom homes increased by 12.9%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
49 | 53 | +8.2% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
27 Homes Were Sold
Over Asking
Summary: A total of 53 homes were sold or pending in Federal Way in April 2024, up by 8.2% month-over-month. Of the 53 sold homes, 19% were sold under asking, 30% were sold at asking, and 51% were sold over asking.
Days on Market for Federal Way, WA
How long does it take to sell a home in Federal Way, WA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
25 Days | 17 Days | -32.5% |
Summary: Homes in Federal Way had an average of 17 days on market in Apr 2024, down by 32.5% compared to last year.
Breakdown of Home Sale Times
45 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 53 homes were sold in Federal Way; 85% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.