Southeast Housing Market Report December 2024•King County, Washington

hero building illustration for mobile

Housing Prices in Southeast, WA

How much do homes in Southeast, WA cost?

Housing Market Conditions

Is Southeast, 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

Southeast is a Seller's Market

Difference Since December 2023

Since last year, Southeast has remained a Seller's Market.

Insight

Southeast 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.
$778,988$485/SqFt
+$28,995
+3.9%

Based on all homes sold in the last 12 months

Insight

Homes in Southeast have sold for 3.9% more than they did a year ago.

Summary: The median home sold price in Southeast was $778,988 in December 2024, up 3.9% from last year, and the median price per square foot was $485.

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.
BedsDec 2023Dec 2024Change YoY
1$470K$504.9K
+7.4%
2$592.4K$599K
+1.1%
3$775K$797K
+2.8%
4$900K$975K
+8.3%
5$975K$1.3M
+39.5%

Summary: Southeast housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes increased by +7.4%. The home price for 2 bedroom homes increased by +1.1%. The home price for 3 bedroom homes increased by +2.8%. The home price for 4 bedroom homes increased by +8.3%. The home price for 5 bedroom homes increased by +39.5%.

Housing supply in Southeast, WA

How many homes are available in Southeast, 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
123Last MonthDec 2024
1462 months agoNov 2024
-15.8 %
Change MoMNov – Dec

Summary: The Southeast real estate market had 123 homes for sale in Dec 2024, a 15.8 % decrease compared to Nov 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
37Last MonthDec 2024
382 months agoNov 2024
-2.6 %
Change MoMNov – Dec

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.
BedsNov 2024Dec 2024Change MoM
143
-25.0%
24133
-19.5%
34032
-20.0%
44437
-15.9%
51718
+5.9%

Summary: Southeast housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes decreased by -25.0%. The inventory for 2 bedroom homes decreased by -19.5%. The inventory for 3 bedroom homes decreased by -20.0%. The inventory for 4 bedroom homes decreased by -15.9%. The inventory for 5 bedroom homes increased by +5.9%.

Asking Price vs. Sold Price

How much do homes in Southeast, 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 Price6 Homes

At Asking Price12 Homes

Under Asking Price19 Homes

Insight

If you're buying a home in Southeast, you may be able to get a good deal. 51.4% of homes here sold below asking price last month.

Summary: A total of 37 homes were sold or pending in Southeast in December 2024, down by 2.6% month-over-month. Of the 37 sold homes, 51% were sold under asking, 32% were sold at asking, and and 16% were sold over asking.

Days on Market for Southeast, WA

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

Breakdown of Home Sale Times

Under 30 Days15 Homes

30 – 90 Days13 Homes

Over 90 Days9 Homes

Insight

Many homes in Southeast are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 37 homes were sold in Southeast; 41% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 24% 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
70 DaysThis YearDec 2024
43 Days1 year agoDec 2023
+64.6 %
Change YoYDec 2023 – Dec 2024

Summary: Homes in Southeast had an average listing age of 70 days in Dec 2024, up by 64.6% compared to the previous year.

Connect With An Agent

Local real estate agents are ready to help you find a home here

Sell My Home

Sell your home with an expert or get the job done on your own.

Get Approved

Get a customizable mortgage solution based on today's rates.

Newest Listings in Southeast, WA

What homes are available in Southeast, WA?

New listings aren’t available for Southeast, WA

Nearby markets

Popular Cities with Homes for Sale in Washington

MLS Disclaimers and Copyright