Federal Way, WA 98023 Real Estate & Property Data

Federal Way, WA 98023 Real Estate Market Trends
Last Updated: April 22, 2025

A total of 506 residential properties have been sold over the past 12 months in 98023. With a median sales price of $650,000 in 98023. Discover market trends and get the granular level real estate data for Federal Way, WA 98023 to keep your pulse on the housing market. Curate compelling home reports for Federal Way, WA 98023 from reliable property records is easy using the ATTOM platform as a source for state-of-the-art property reports.

Federal Way, WA 98023 Real Estate Market Trends
Total Residential Properties 13,977
Total Commercial Properties 94
Avg. Home Age (Single Family Home) 45 Years
Avg. Square Feet (Single Family Home) 2,070
Total 2025 Residential Sales (year-to-date) 64
% of Homes Seriously Underwater (Q2 2025) 1.04%
Total 2024 Residential Sales 468
% of Equity Rich Homes (Q2 2025) 50.98%
Effective 2024 Property Tax 0.89%
Total Foreclosure Filings (year-to-date) 7
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Federal Way, WA 98023 Real Estate Overview

There were 506 residential properties sold in the past year in Federal Way, WA 98023. The median home value in Federal Way, WA 98023 is $617,591. There are a total of 13,977 residential properties in the 98023.

Median Sales Price i
$650,000
(Feb 2025)
+3.2%
year-over-year
y-o-y
  • February '25 Feb '25 $650,000
  • January '25 Jan '25 $625,000
  • December '24 Dec '24 $645,000
  • November '24 Nov '24 $612,000
  • October '24 Oct '24 $650,000
  • September '24 Sep '24 $610,000
  • August '24 Aug '24 $650,000
  • July '24 Jul '24 $606,000
  • June '24 Jun '24 $682,495
  • May '24 May '24 $650,000
  • April '24 Apr '24 $630,000
  • March '24 Mar '24 $581,500
Median Down Payment i
$79,081
(Feb 2025)
-42.3%
year-over-year
y-o-y
  • February '25 Feb '25 $79,081
  • January '25 Jan '25 $56,800
  • December '24 Dec '24 $84,008
  • November '24 Nov '24 $99,025
  • October '24 Oct '24 $101,000
  • September '24 Sep '24 $65,500
  • August '24 Aug '24 $72,419
  • July '24 Jul '24 $55,000
  • June '24 Jun '24 $78,750
  • May '24 May '24 $105,000
  • April '24 Apr '24 $140,750
  • March '24 Mar '24 $115,750
Number of Homes Sold i
30
(Feb 2025)
+7.1%
year-over-year
y-o-y
  • February '25 Feb '25 30
  • January '25 Jan '25 34
  • December '24 Dec '24 40
  • November '24 Nov '24 31
  • October '24 Oct '24 57
  • September '24 Sep '24 49
  • August '24 Aug '24 41
  • July '24 Jul '24 47
  • June '24 Jun '24 38
  • May '24 May '24 46
  • April '24 Apr '24 40
  • March '24 Mar '24 25
Number of Purchase Loans i
31
(Feb 2025)
+19.2%
year-over-year
y-o-y
  • February '25 Feb '25 31
  • January '25 Jan '25 33
  • December '24 Dec '24 35
  • November '24 Nov '24 28
  • October '24 Oct '24 48
  • September '24 Sep '24 33
  • August '24 Aug '24 43
  • July '24 Jul '24 44
  • June '24 Jun '24 36
  • May '24 May '24 32
  • April '24 Apr '24 32
  • March '24 Mar '24 23
Number of REFI Loans i
17
(Feb 2025)
+41.7%
year-over-year
y-o-y
  • February '25 Feb '25 17
  • January '25 Jan '25 23
  • December '24 Dec '24 24
  • November '24 Nov '24 23
  • October '24 Oct '24 43
  • September '24 Sep '24 22
  • August '24 Aug '24 21
  • July '24 Jul '24 22
  • June '24 Jun '24 16
  • May '24 May '24 21
  • April '24 Apr '24 31
  • March '24 Mar '24 18
Number of HELOC Loans i
21
(Feb 2025)
+16.7%
year-over-year
y-o-y
  • February '25 Feb '25 21
  • January '25 Jan '25 13
  • December '24 Dec '24 16
  • November '24 Nov '24 19
  • October '24 Oct '24 20
  • September '24 Sep '24 25
  • August '24 Aug '24 19
  • July '24 Jul '24 29
  • June '24 Jun '24 27
  • May '24 May '24 23
  • April '24 Apr '24 23
  • March '24 Mar '24 16

Federal Way, WA 98023 Foreclosure Activity

Total Foreclosure Filings i
  • February '25 Feb '25 N/A
  • January '25 Jan '25 7
  • December '24 Dec '24 1
  • November '24 Nov '24 N/A
  • October '24 Oct '24 1
  • September '24 Sep '24 9
  • August '24 Aug '24 3
  • July '24 Jul '24 2
  • June '24 Jun '24 N/A
  • May '24 May '24 N/A
  • April '24 Apr '24 6
  • March '24 Mar '24 1
Foreclosure Starts i
  • February '25 Feb '25 N/A
  • January '25 Jan '25 6
  • December '24 Dec '24 1
  • November '24 Nov '24 N/A
  • October '24 Oct '24 1
  • September '24 Sep '24 8
  • August '24 Aug '24 2
  • July '24 Jul '24 2
  • June '24 Jun '24 N/A
  • May '24 May '24 N/A
  • April '24 Apr '24 5
  • March '24 Mar '24 1
Completed Foreclosures (REOs) i
1
(Feb 2025)
  • February '25 Feb '25 1
  • January '25 Jan '25 N/A
  • December '24 Dec '24 N/A
  • November '24 Nov '24 N/A
  • October '24 Oct '24 N/A
  • September '24 Sep '24 N/A
  • August '24 Aug '24 N/A
  • July '24 Jul '24 N/A
  • June '24 Jun '24 1
  • May '24 May '24 N/A
  • April '24 Apr '24 N/A
  • March '24 Mar '24 N/A
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