Home Values

98498 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$231,000

  • 11.8% 1-year change
  • 6.8% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this zip code relative to other zip codes in the same metropolitan area. A particular zip code may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Cold

Buyers' Market
Sellers' Market

The median home value in 98498 is $231,000. 98498 home values have gone up 11.8% over the past year and Zillow predicts they will rise 6.8% within the next year. The median list price per square foot in 98498 is $127, which is lower than the Lakewood average of $128. The median price of homes currently listed in 98498 is $235,950 while the median price of homes that sold is $252,482.

Foreclosures will be a factor impacting home values in the next several years. In 98498 6.0 homes are foreclosed (per 10,000). This is lower than the Lakewood value of 6.5 and also greater than the national value of 4.3

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in 98498 is 5.7%, which is lower than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 98498 homeowners underwater on their mortgage is 23.5%, which is lower than Lakewood at 25.6%.

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Relative ZHVI
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98498 Market Overview

Data through Aug 31, 2014
  • $231,000 ZHVI
  • 6.8% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Aug 31, 2015)
  • $235,950 Median listing price
  • $252,482 Median sale price
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98498 Market Health

Data through Aug 31, 2014
  • 4.7/10 Stable
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 23.5% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 5.7% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

6 homes 98498
6.5 homes Lakewood
4.3 homes United States
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Nearby Zip Codes

Name Median ZHVI Name Median ZHVI Name Median ZHVI
98333 $464,300 98467 $308,300 98327 $292,400
98466 $275,900 98388 $275,600 98465 $235,700
98499 $192,900 98409 $148,000  

Listings & Sales

Data through Aug 31, 2014
  • $127 Median list price / sq ft
  • $129 Median sale price / sq ft
  • 39.6% Listings with price cut
12.2%
Sold below listing
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98498 Rentals

Data through Aug 31, 2014
  • Zillow Rent Index

  • $1,449 98498
    $1,416 Lakewood
    $1,328 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.1 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • $0.93 Rent list price / sq ft
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