Updated May 2026 · Redfin · 3-month window
98023 Real Estate Market Update: Federal Way, WA, May 2026
The latest housing-market numbers for ZIP code 98023 in Federal Way, Washington, for May 2026: a $643K median sale price, straight from the Redfin Data Center. ZIP-level figures are a rolling three-month window.
| Metric | Value | MoM | YoY |
|---|---|---|---|
| Median sale price | $643K | ▲ +2.8% | ▲ +2.4% |
| Days on market | 8 | ▼ -27.3% | ▼ -33.3% |
| Homes for sale | 100 | ▲ +16.3% | ▲ +53.8% |
| Sale-to-list | 100.3% | • 0.0% | ▲ +0.1% |
| Homes sold | 113 | ▲ +0.9% | ▼ -18.1% |
Figures from the Redfin Data Center ZIP-code tracker (rolling 3-month window, not seasonally adjusted). Verify against your MLS before posting. Not a valuation for a specific home.
What the 98023 numbers say
Prices in Federal Way's 98023 ZIP are still climbing. The median sale price reached $642,500, up 2.4% year over year. Homes here move fast: a typical listing goes under contract in about 8 days, and sellers are getting 100.3% of list price.
Based on 113 recent sales, 98023 is currently an active market.
What this means if you sell in 98023
Use these figures to set expectations early with each client. Lead a listing appointment with the $643K median price and the 8-day pace, show the year-over-year direction, and frame 98023 as an active market. A buyer or seller client trusts an agent who knows their exact ZIP, not just the metro average.
How we track the 98023 market
We built LOKAL to pull 98023's numbers straight from the Redfin Data Center, so an agent and a client read from the same source. For May 2026 we recorded a $643K median sale price, +2.4% year over year, a 100.3% sale-to-list ratio and a +2.8% month-over-month move across 113 recorded sales. That compares with roughly $627K a year earlier, in 2025. We refresh every ZIP monthly and only publish once a ZIP clears at least 20 recorded sales for the period, so the median stays reliable instead of noisy. Redfin has published ZIP-level market data monthly since 2020, which is what lets us show month-over-month and year-over-year change here in 2026. LOKAL is independent and not affiliated with Redfin; always verify against your MLS before you publish.
ZIP-code areas follow U.S. Postal Service boundaries; for complementary demographics on 98023 — population, median household income, owner-occupancy — see the U.S. Census Bureau profile for this ZIP Code Tabulation Area. LOKAL covers price and pace; the Census covers who lives there.
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Build the Federal Way post →Frequently asked: the 98023 housing market
- What is the median home price in ZIP 98023 (Federal Way, WA)?
- As of May 2026, the median sale price in ZIP 98023 is $642,500 (+2.4% year over year), per the Redfin Data Center. Figures are a rolling 3-month window for this ZIP code.
- Is ZIP 98023 a buyer's or seller's market right now?
- ZIP 98023 is currently an active market, based on a 100.3% sale-to-list ratio, about 8 days on market for May 2026.
- How long do homes take to sell in ZIP 98023?
- A typical listing in 98023 goes under contract in about 8 days as of May 2026. Always verify against your local MLS before quoting figures to clients.
- Where does this 98023 market data come from?
- All figures come from the Redfin Data Center ZIP-code market tracker, a rolling 3-month window refreshed monthly. LOKAL turns them into a ready-to-post carousel, story and square graphic. LOKAL is not affiliated with Redfin.
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Data: Redfin · Redfin Data Center (ZIP-code market tracker). Figures are a ZIP-level 3-month snapshot, not a valuation for a specific home.