Is Tahoma-Maple Valley, 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, Tahoma-Maple Valley has remained a Seller's Market.
Key Takeaway
Tahoma-Maple Valley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Tahoma-Maple Valley, WA
How much do homes in Tahoma-Maple Valley, WA cost?
Median Sold Price
$721,000
$357/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Tahoma-Maple Valley have sold for 3% more than they did a year ago.
Summary: The median home sold price in Tahoma-Maple Valley was $721,000 in May 2024, up 3% from last year, and the median price per square foot was $357.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $404.9K | $596.5K | +47.3% |
| 2 Bedrooms | $424K | $477.3K | +12.6% |
| 3 Bedrooms | $622.5K | $645K | +3.6% |
| 4 Bedrooms | $790K | $802.2K | +1.6% |
| 5+ Bedrooms | $860K | $859.9K | 0% |
Summary: Tahoma-Maple Valley housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 47.3%, 2 bedroom homes increased by 12.6%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Issaquah Plateau | $1.2M | $1.3M | +12.3% |
| Black Diamond | $799.4K | $848.8K | +6.2% |
| Tahoma-Maple Valley | $700.1K | $721K | +3.0% |
| Maple Valley | $740.3K | $759.2K | +2.6% |
| Covington | $650K | $645K | -0.8% |
Housing Supply in Tahoma-Maple Valley, WA
How many homes are available in Tahoma-Maple Valley, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 245 | 298 | +21.6% |
Summary: The Tahoma-Maple Valley real estate market had 298 homes for sale in May 2024, a 21.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 11 | 11 | 0.0% |
| 3 Bedrooms | 104 | 133 | +27.9% |
| 4 Bedrooms | 95 | 111 | +16.8% |
| 5+ Bedrooms | 34 | 41 | +20.6% |
Summary: The Tahoma-Maple Valley housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 27.9%, 4 bedroom homes increased by 16.8%, and 5+ bedroom homes increased by 20.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 102 | 82 | -19.6% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Tahoma-Maple Valley, you could pay more than the asking price. 42.7% of homes here sold above asking price last month.
Summary: A total of 82 homes were sold or pending in Tahoma-Maple Valley in May 2024, down by 19.6% month-over-month. Of the 82 sold homes, 30% were sold under asking, 27% were sold at asking, and 43% were sold over asking.
Days on Market for Tahoma-Maple Valley, WA
How long does it take to sell a home in Tahoma-Maple Valley, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 19 Days | 14 Days | -22.8% |
Summary: Homes in Tahoma-Maple Valley had an average of 14 days on market in May 2024, down by 22.8% compared to last year.
Breakdown of Home Sale Times
72 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Tahoma-Maple Valley are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 82 homes were sold in Tahoma-Maple Valley; 88% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 2% 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.