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Federal Way housing prices up from last year, sales down
Redfin, a real estate brokerage firm, recently reported that Federal Way home prices rose 7 percent last month compared to last June’s prices. The median home price was $247,450, with single family homes at $252,500 and condos at $115,000.
However, Federal Way’s housing sales were down by 22 percent in June compared to June 2013. A total of 84 homes were sold and spent a median 16 days on the market, the Redfin data shows.
In May, home prices were up 15.4 percent compared to May 2013, with the median home price at $260,000. The median price for single family homes was $280,000 and $81,000 for condos in Federal Way. Redfin’s research shows sales were down by 1.8 percent with 105 homes sold. Homes spent a median 20 days on the market.
The statistics are different from April’s numbers, when the entire Seattle area started to show resilience. Federal Way home prices were up by 9.9 percent compared to April of last year and sales were up 7.5 percent. The number of homes for sale fell by 2.8 percent and the median price for all homes was $229,700. The median price for single family homes was $246,000 and $90,799 for condos.
Redfin’s data is from their Real-Time Housing Market Tracker, which reports local home prices, sales volume and inventory. The numbers only reflect transactions on the Multiple Listing Service, a local or regional database of available real estate for sale by member brokers.
All of the data can be found at their research center at www.redfin.com/research/reports.