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All market snapshots / 98023

Federal Way, WA 98023 Housing Market

Data snapshot: October 26, 2026. Closed-sale window: last 6 months.
Federal Way, WA inventory balance
Homes for sale vs homes under contract. Pending-to-active ratio: 0.07
ActiveActive listings: 5858PendingPending sales: 44
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): $640k$640k
What homes actually sell for in Federal Way, WA
Distribution of 150 closed sale prices over the last six months (5th to 95th percentile). Middle half of sales: $550k to $720k
$320k to $436k: 6 sales$320k$436k to $552k: 25 sales$552k to $668k: 56 sales56sales$552k$668k to $784k: 33 sales$784k to $901k: 7 sales$784k$901k to $1.02M: 5 sales$1.02M to $1.13M: 0 sales$1.02M$1.13M to $1.25M: 3 salesMedian $640k

What the numbers say

As of October 26, 2026, Resideline is tracking 58 active listings and 4 pending sales in ZIP code 98023. That pending-to-active ratio of 0.07 makes it a typical-pace market: listings are going under contract at about the pace of most ZIP codes Resideline tracks.

The median asking price of current listings is $665,000, while the median of the 150 closed sales Resideline tracked over the last six months was $640,000. 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 86 days.

Frequently asked questions

What is the median home price in 98023?

The median closed sale price in Federal Way, WA 98023 was $640,000 over the last six months, based on 150 closed sales tracked by Resideline. The middle half of those sales ranged from $550,000 to $720,000.

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

Resideline is currently tracking 4 pending sales against 58 active listings in 98023, a pending-to-active ratio of 0.07. Resideline tracks a sample of pending sales, so the ratio is most useful as a comparison: across the 3,777 ZIP codes Resideline tracks, the middle half run from 0.05 to 0.11. A higher ratio means listings go under contract faster, which usually favors sellers; a lower one gives buyers more room. By that comparison, 98023 is currently a typical-pace market.

Nearby ZIP code market data

Full Federal Way, WA housing market report →

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