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All market snapshots / 98023

Federal Way, WA 98023 Housing Market

Data snapshot: October 5, 2026. Closed-sale window: last 6 months.
Federal Way, WA inventory balance
Homes for sale vs homes under contract. Pending-to-active ratio: 0.10
ActiveActive listings: 6060PendingPending sales: 66
Federal Way, WA: what sellers ask vs what buyers pay
Median asking price of current listings vs median closed sale price over the last six months
AskingMedian asking price (current listings): $665k$665kSoldMedian sold price (last 6 months): $630k$630k
What homes actually sell for in Federal Way, WA
Distribution of 165 closed sale prices over the last six months (5th to 95th percentile). Middle half of sales: $550k to $725k
$320k to $436k: 8 sales$320k$436k to $552k: 28 sales$552k to $668k: 60 sales60sales$552k$668k to $784k: 35 sales$784k to $901k: 7 sales$784k$901k to $1.02M: 7 sales$1.02M to $1.13M: 0 sales$1.02M$1.13M to $1.25M: 3 salesMedian $630k

What the numbers say

As of October 5, 2026, Resideline is tracking 60 active listings and 6 pending sales in ZIP code 98023. That pending-to-active ratio of 0.10 points to a balanced market: buyers have room to compare options and negotiate.

The median asking price of current listings is $665,000, while the median of the 165 closed sales Resideline tracked over the last six months was $629,900. Those two figures describe different sets of homes, so any gap between them reflects the mix of what is listed now versus what recently sold, not a negotiating discount. Resideline has been seeing the median active listing in 98023 for 66 days.

Frequently asked questions

What is the median home price in 98023?

The median closed sale price in Federal Way, WA 98023 was $629,900 over the last six months, based on 165 closed sales tracked by Resideline. The middle half of those sales ranged from $550,000 to $725,000.

Is 98023 a buyer's or seller's market?

Resideline is currently tracking 6 pending sales against 60 active listings in 98023, a pending-to-active ratio of 0.10. Ratios of 0.6 or higher usually indicate a seller's market, 0.35 to 0.6 a competitive market, and lower values a more balanced one. By that yardstick, 98023 currently looks like a balanced market.

Nearby ZIP code market data

Full Federal Way, WA housing market report →

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