Is Pacific, 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, Pacific has remained a Seller's Market.
Key Takeaway
Pacific is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Pacific, WA
How much do homes in Pacific, WA cost?
Median Sold Price
$525,000
$354/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Pacific have sold for 1.9% more than they did a year ago.
Summary: The median home sold price in Pacific was $525,000 in May 2024, up 1.9% from last year, and the median price per square foot was $354.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $285K | N/A |
| 2 Bedrooms | $382.5K | $500K | +30.7% |
| 3 Bedrooms | $495K | $507.5K | +2.5% |
| 4 Bedrooms | $608.7K | $600K | -1.4% |
| 5+ Bedrooms | $650K | $700K | +7.7% |
Summary: Pacific housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 30.7%, 3 bedroom homes increased by 2.5%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes increased by 7.7%.
Median Sold Price Compared To Nearby Cities
| 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% |
| Sumner | $540K | $525K | -2.8% |
Housing Supply in Pacific, WA
How many homes are available in Pacific, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 14 | +7.7% |
Summary: The Pacific real estate market had 14 homes for sale in May 2024, a 7.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 8 | 10 | +25.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Pacific housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 4 | -33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pacific, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Pacific in May 2024, down by 33.3% month-over-month. Of the 4 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Pacific, WA
How long does it take to sell a home in Pacific, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 74 Days | 13 Days | -82.1% |
Summary: Homes in Pacific had an average of 13 days on market in May 2024, down by 82.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Pacific are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Pacific; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% 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.