Recently released title info shows that Federal Way, WA single family housing inventory is down by 30% this year over last; however closed home sales are up by 33% ! 3 guesses why? Answer: Affordability! The average (median) sale price is $241,000 which fairly well reflects the average buying power of a typical Federal Way resident. Our sale prices have dropped 22.20% from a year ago, when the median was $310,125.
Actual inventory numbers stood at 353 homes on the market as of may 31st, and 56 sales closed for the month of May.
Condo listings in Federal Way are down 9.4% and the sales are down a whopping 46% this May over last! Actual numbers are 7 units sold, at a median price of $129,900. This price is down from a median of $165,000 a year ago.
