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Federal Way, WA 98023 Housing Market

Data snapshot: September 14, 2026. Closed-sale window: last 6 months.
Federal Way, WA inventory balance
Homes for sale vs homes under contract. Pending-to-active ratio: 0.11
ActiveActive listings: 7171PendingPending sales: 88
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): $568k$568kSoldMedian sold price (last 6 months): $630k$630k
What homes actually sell for in Federal Way, WA
Distribution of 180 closed sale prices over the last six months (5th to 95th percentile). Middle half of sales: $550k to $735k
$309k to $421k: 10 sales$309k$421k to $532k: 19 sales$532k to $643k: 58 sales58sales$532k$643k to $755k: 52 sales$755k to $866k: 10 sales$755k$866k to $977k: 10 sales$977k to $1.09M: 0 sales$977k$1.09M to $1.2M: 4 salesMedian $630k

What the numbers say

As of September 14, 2026, Resideline is tracking 71 active listings and 8 pending sales in ZIP code 98023. That pending-to-active ratio of 0.11 points to a balanced market: buyers have room to compare options and negotiate.

The median asking price of current listings is $568,000, while the median of the 180 closed sales Resideline tracked over the last six months was $630,000. 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 58 days.

Frequently asked questions

What is the median home price in 98023?

The median closed sale price in Federal Way, WA 98023 was $630,000 over the last six months, based on 180 closed sales tracked by Resideline. The middle half of those sales ranged from $550,000 to $735,000.

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

Resideline is currently tracking 8 pending sales against 71 active listings in 98023, a pending-to-active ratio of 0.11. 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

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