Is University Place, 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, University Place has remained a Seller's Market.
Housing Prices in University Place, WA
How much do homes in University Place, WA cost?
Median Sold Price
$635,000
$333/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in University Place was $635,000 in May 2024, up 3.3% from last year, and the median price per square foot was $333.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $238K | - | N/A |
2 Bedrooms | $409.3K | $405K | -1.1% |
3 Bedrooms | $601.4K | $622.5K | +3.5% |
4 Bedrooms | $720K | $686.2K | -4.7% |
5+ Bedrooms | $850K | $888.2K | +4.5% |
Summary: University Place 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 decreased by 1.1%, 3 bedroom homes increased by 3.5%, 4 bedroom homes decreased by 4.7%, and 5+ bedroom homes increased by 4.5%.
Median Sold Price Compared To Nearby Cities
University Place | $615K | $635K | +3.3% |
Fircrest | $598K | $613.7K | +2.6% |
Tacoma | $454.5K | $465.5K | +2.4% |
Lakewood | $490K | $490K | 0.0% |
Steilacoom | $699.5K | $650K | -7.1% |
Housing Supply in University Place, WA
How many homes are available in University Place, WA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
93 | 109 | +17.2% |
Summary: The University Place real estate market had 109 homes for sale in May 2024, a 17.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 27 | 26 | -3.7% |
3 Bedrooms | 34 | 47 | +38.2% |
4 Bedrooms | 22 | 23 | +4.5% |
5+ Bedrooms | 10 | 13 | +30.0% |
Summary: The University Place 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 3.7%, 3 bedroom homes increased by 38.2%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 30%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
31 | 35 | +12.9% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Summary: A total of 35 homes were sold or pending in University Place in May 2024, up by 12.9% month-over-month. Of the 35 sold homes, 40% were sold under asking, 14% were sold at asking, and 46% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
27 Days | 35 Days | +31.2% |
Summary: Homes in University Place had an average of 35 days on market in May 2024, up by 31.2% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During May 2024, 35 homes were sold in University Place; 86% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.