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Sarah Mitchell
Compass Real Estate · ZIP 98121
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98121 ZIP Code Housing Market
$599,000median sale price
What is the 98121 housing market like right now?
The median home sale price in ZIP code 98121 is $599,000, down 5.7% year-over-year. Homes sell in an average of 42 days with 143 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of March 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is the 98121 ZIP code a buyer's or seller's market?
ZIP code 98121 is currently a balanced market and homes selling in about 42 days. How we determine this →
What are the latest 98121 housing market stats?
| Metric | Value |
|---|---|
| Median sale price | $599,000 |
| Median list price | $517,000 |
| Year-over-year price change | -5.7% |
| Average days on market | 42 days |
| Active inventory | 143 listings |
| Sale-to-list price ratio | 98.3% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
The 98121 zip code, located in Seattle, WA, is currently classified as a balanced market. The median sale price stands at $599,000, representing a -5.7% change year over year. Homes in this area spend an average of 42 days on the market before going under contract. There are currently 143 active listings in the area, which influences how much negotiating power buyers and sellers have.
ZIP 98121 sits in the Seattle, WA area, roughly 0.3 miles from downtown Seattle. Because home prices are set street by street, this ZIP can move differently from Seattle's citywide averages. The figures below reflect 98121 specifically — drawn from Redfin transactions, U.S. Census data for its 21,166 residents, and Zillow value estimates.
Homes sold
57
Last 12 weeks
Days on market
42
Average pace
Active listings
143
Sale-to-list
98.3%
Below asking
What is driving the 98121 housing market?
The 98121 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a balanced market, homes are selling at approximately 98.3% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 98121 have declined -5.7% compared to last year, which may present opportunities for buyers looking to enter the market at a lower price point. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 98121 stands at $555,593, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $2,661 per month. This gives a price-to-rent ratio of approximately 17.4, which sits in a moderate range where the buy-versus-rent decision depends heavily on individual financial circumstances and time horizon. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Who lives in 98121?
Population
21,166
Median income
$152,019/yr
Median age
33.2 years
Owner-occupied
22.6%
College grads
78.9%
Avg commute
12.36 min
What is it like living in 98121?
Zip code 98121 is home to approximately 21,166 residents. The median household income is $152,019 per year, which shapes the types of homes and amenities available in the area. With a median age of 33.2 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 22.6% of housing units are owner-occupied, reflecting a predominantly renter-occupied area that may appeal to investors looking for rental income opportunities.
About 78.9% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 12.36 minutes, which is shorter than the national average and suggests good proximity to employment centers. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 98121.
Frequently asked questions about 98121
What is the median home price in 98121?
The current median sale price in 98121 is $599,000, based on recent Redfin transaction data. Prices have changed -5.7% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 98121 a buyer's or seller's market?
The 98121 zip code is currently classified as a balanced market. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population of zip code 98121?
Zip code 98121 has a population of approximately 21,166 residents. The median household income is $152,019 per year. About 22.6% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 98121?
Properties Incorporated provides comprehensive data for 98121 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 98121 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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