98282 Housing Market Report January 2025•Island County, Washington

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Housing Prices in 98282, WA

How much do homes in 98282, WA cost?

Housing Market Conditions

Is 98282, WA a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

98282 is a Seller's Market

Difference Since January 2024

At the same time last year, 98282 was a Buyer's Market.

Insight

98282 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$710,000$386/SqFt
+$36,666
+5.4%

Based on all homes sold in the last 12 months

Insight

Homes in 98282 have sold for 5.4% more than they did a year ago.

Summary: The median home sold price in 98282 was $710,000 in January 2025, up 5.4% from last year, and the median price per square foot was $386.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
98292
+6.7%
98282
+5.4%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsJan 2024Jan 2025Change YoY
1$420K$450K
+7.1%
2$625.5K$675K
+7.9%
3$682.5K$766.2K
+12.3%
4$861K$1.1M
+27.8%
5$767K-
N/A

Summary: 98282 housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes increased by +7.1%. The home price for 2 bedroom homes increased by +7.9%. The home price for 3 bedroom homes increased by +12.3%. The home price for 4 bedroom homes increased by +27.8%. The home price for 5 bedroom homes did not change.

Housing supply in 98282, WA

How many homes are available in 98282, WA?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
95Last MonthJan 2025
952 months agoDec 2024
0.0 %
Change MoMDec – Jan

Summary: The 98282 real estate market had 95 homes for sale in Jan 2025, the same as Dec 2024

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
16Last MonthJan 2025
212 months agoDec 2024
-23.8 %
Change MoMDec – Jan

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsDec 2024Jan 2025Change MoM
134
+33.3%
23636
0.0%
34646
0.0%
475
-28.6%
534
+33.3%

Summary: 98282 housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +33.3%. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes remained the same. The inventory for 4 bedroom homes decreased by -28.6%. The inventory for 5 bedroom homes increased by +33.3%.

Asking Price vs. Sold Price

How much do homes in 98282, WA cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price5 Homes

At Asking Price5 Homes

Under Asking Price6 Homes

Insight

If you're buying a home in 98282, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in 98282 in January 2025, down by 23.8% month-over-month. Of the 16 sold homes, 38% were sold under asking, 31% were sold at asking, and and 31% were sold over asking.

Days on Market for 98282, WA

How long does it take to sell a home in 98282, WA?

Breakdown of Home Sale Times

Under 30 Days4 Homes

30 – 90 Days2 Homes

Over 90 Days10 Homes

Insight

Most homes in 98282 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During January 2025, 16 homes were sold in 98282; 25% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 63% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
120 DaysThis YearJan 2025
38 Days1 year agoJan 2024
+214.7 %
Change YoYJan 2024 – Jan 2025

Summary: Homes in 98282 had an average listing age of 120 days in Jan 2025, up by 214.7% compared to the previous year.

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Newest Listings in 98282, WA

What homes are available in 98282, WA?

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Nearby markets

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MLS Disclaimers and Copyright

Based on information from Spokane Association of REALTORS® MLS, for the period 02/01/2023 - 02/01/2025

IDX Listings courtesy of Spokane Association of REALTORS® MLS as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS.

Broker Reciprocity The data relating to real estate for sale on this web site comes in part from the Spokane Association of REALTORS®. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that data is deemed reliable but is not guaranteed accurate by the SARMLS. Real estate listings held by other brokerage firms are marked with the IDX logo and detailed information about them includes the name of the listing brokers. Copyright 2025 Spokane Association of REALTORS® MLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/2/2025, 7:10:53 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.