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King & Pierce County, WA Real Estate Market Update for January 2009

Saturday, January 10, 2009
by Stephanie Dawson
King & Pierce County Update for January 2009
 
When comparing December 2008 to December 2007, the average price of a home* in King County appreciated 1.53 percent, according to the NWMLS statistics.  This is the first time we have seen an appreciation in this market since April 2008. Compared with December of last year, the average price increased from $477,087 to $484,494 and the median price dropped from $389,500 to $370,700 for a decrease of 5.07 percent over December 2007.  The average asking price for a resale home or condo in King County is $669,100 - not including brand new homes. 
 
Although we are seeing prices drop when we compare 2007 to 2008, it's a different story when you look at how the King County real estate market performed compared to the previous month.  The second chart below shows a year at a glance.  It shows that home sale prices increased between November and December of 2008, so it's not all bad news.
 
The average time that homes were on the market before accepting an offer was 86 days, which is the same number we saw for November 2008.  At the end of December 2007, there were 10,947 active homes for sale in King County.  By comparison, at the end of December 2008, there were 11,636 actively listed homes for sale in the MLS in King County, representing a 9.97 month supply of homes.   If you regularly read my newsletter, you know that six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.  
 
If you are thinking about buying, this is an excellent time to get a great deal on a home! Interest rates are very low, and home buyers can now purchase homes that would have cost an additional hundred thousand dollars or more a year or two ago.
 

 

 

 

  
   
    
  
   
   
    
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.
 

 

 

Pierce County
When comparing December 2008 to December 2007, the average price of a home* in Pierce County depreciated 14.98 percent, according to the NWMLS statistics.  More specifically, the average price fell from $298,898 to $259,953 and the median price fell from $269,950 to $235,000 for a decrease of 14.87 percent over December 2007.  In Pierce County, the average asking price for a resale house or condo is $382,028 - and that doesn't include any of the new homes that builders are trying to offload.
 
The average time that homes were on the market before accepting an offer was 99 days.  In December 2007, there were 7,109 active homes for sale in Pierce County.  At the end of December 2008, there were 6,315 active homes for sale in the MLS in Pierce County, representing an 11.02 month supply of homes.  If you read my newsletter regularly, you know that six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.
 
If you are thinking about buying, this is an excellent time to get a great deal on a home! Interest rates are very low, and home buyers can now purchase homes that would have cost an additional hundred thousand dollars or more a year or two ago.
  
   
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.

King & Pierce County, WA Real Estate Market Update for December 2008

Tuesday, December 09, 2008
by Stephanie Dawson
King & Pierce County Update for December 2008
When comparing November 2008 to November 2007, the average price of a home* in King County depreciated 8.21 percent, according to the NWMLS statistics.  Compared with November of last year, the average price decreased from $476,207 to $440,062 and the median price dropped from $385,990 to $365,000 for a decrease of 5.75 percent over November 2007.   The average asking price for a resale home or condo in King County is $664,008 - not including brand new homes.
 
The average time that homes were on the market before accepting an offer was 86 days.  At the end of November 2007, there were 13,188 active homes for sale in King County.  By comparison, at the end of November 2008, there were 13,578 active homes for sale in the MLS in King County, representing a 9.4 month supply of homes.   Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.  
 
If you are thinking about buying, this is an excellent time to get a great deal on a home! Interest rates are very low, and home buyers can now purchase homes that would have cost an additional hundred thousand dollars or more a year or two ago.
 

  
   
    
  
   
   
    
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.
 

 

 

Pierce County
When comparing November 2008 to November 2007, the average price of a home* in Pierce County depreciated 14.61 percent, according to the NWMLS statistics.  More specifically, the average price fell from $296,996 to $259,145 and the median price fell from $262,950 to $230,000 for a decrease of 14.33 percent over November 2007.  In Pierce County, the average asking price for a resale house or condo is $384,356 - and that doesn't include any of the new homes that builders are trying to offload.
 
The average time that homes were on the market before accepting an offer was 97 days.  In November 2007, there were 7,981 active homes for sale in Pierce County.  At the end of November 2008, there were 6,998 active homes for sale in the MLS in Pierce County, representing a 10.44 month supply of homes.  Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.
 
If you are thinking about buying, this is an excellent time to get a great deal on a home! Interest rates are very low, and home buyers can now purchase homes that would have cost an additional hundred thousand dollars or more a year or two ago.
  
 
   
    
  
  
  
 
   
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.

King & Pierce County, WA - November 2008 Real Estate Market Update

Wednesday, November 12, 2008
by Stephanie Dawson
King & Pierce County Update for November 2008
When comparing October 2008 to October 2007, the average price of a home* in King County depreciated 7.95 percent, according to the NWMLS statistics.  Compared with October of last year, the average price decreased from $482,839 to $477,281 and the median price dropped from $387,500 to $358,500 for a decrease of 8.09 percent over October 2007.   The average asking price for a resale home or condo in King County is $669,698 - not including brand new homes.
 
The average time that homes were on the market before accepting an offer was 81 days.  At the end of October 2007, there were 14,240 active homes for sale in King County.  By comparison, at the end of October 2008, there were 14,655 active homes for sale in the MLS in King County, representing a 8.49 month supply of homes.   Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.  
 
October
  
   
    
  
   
   
    
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.

 

 

Pierce County
When comparing October 2008 to October 2007, the average price of a home* in Pierce County depreciated 11.11 percent, according to the NWMLS statistics.  More specifically, the average price fell from $304,061 to $273,665 and the median price fell from $274,950 to $241,000 for a decrease of 10.44 percent over October 2007.  In Pierce County, the average asking price for a resale house or condo is $390,296 - and that doesn't include any of the new homes that builders are trying to sell.
 
The average time that homes were on the market before accepting an offer was 87 days, which is ten days better than September’s number of 97 days.  In October 2007, there were 8,439 active homes for sale in Pierce County.  At the end of October 2008, there were 7,244 active homes for sale in the MLS in Pierce County, representing a 9.61 month supply of homes.  Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.
  
 
   
   
  
  
  
  
  
   
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.

King & Pierce County, WA - October 2008 Real Estate Market Update

Thursday, October 09, 2008
by Stephanie Dawson
King & Pierce County Update for October 2008
When comparing September 2008 to September 2007, the average price of a home* in King County depreciated 8.48 percent, according to the NWMLS statistics.  Compared with September of last year, the average price decreased from $486,404 to $448,387 and the median price dropped from $395,000 to $380,315 for a decrease of 3.86 percent over September 2007.   The average asking price for a resale home or condo in King County is $664,511 - not including brand new homes.
 
The average time that homes were on the market before accepting an offer was 77 days.  At the end of September 2007, there were 14,537 active homes for sale in King County.  By comparison, at the end of September 2008, there were 15,438 active homes for sale in the MLS in King County, representing a 6.73 month supply of homes.   Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market. We have been hovering over the balanced market for 6 months now, contrary to what the media promotes.
 

  

 

 

  

  

 

   

 

 

*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.

 
  

Pierce County
  
When comparing September 2008 to September 2007, the average price of a home* in Pierce County depreciated 10.52 percent, according to the NWMLS statistics.  More specifically, the average price fell from $303,156 to $274,288 and the median price fell from $269,925 to $241,950 for a decrease of 11.56 percent over September 2007.  In Pierce County, the average asking price for a resale house or condo is $394,912 - and that doesn't include any of the new homes that builders are trying to sell.
 
The average time that homes were on the market before accepting an offer was 97 days.  In September 2007, there were 8,681 active homes for sale in Pierce County.  At the end of September 2008, there were 7,710 active homes for sale in the MLS in Pierce County, representing a 7.76 month supply of homes.  Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.
  
     
    
  
 
 
   
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.

King & Pierce County, WA Update for September 2008

Saturday, September 13, 2008
by Stephanie Dawson
King & Pierce County Update for September 2008
  
When comparing August 2008 to August 2007, the average price of a home* in King County depreciated 8.7 percent, according to the NWMLS statistics.  Compared with August of last year, the average price decreased from $519,450 to $477,877 and the median price dropped from $415,000 to $388,350 for a decrease of 6.86 percent over August 2007.   The average asking price for a resale home or condo in King County is $657,651 - not including brand new homes.
 
With end-of-summer family vacations and back-to-school preparations, we saw a longer period of time pass before homes were sold in August. The average time that homes were on the market before accepting an offer was 80 days.  At the end of August 2007, there were 13,415 active homes for sale in King County.  By comparison, at the end of August 2008, there were 15,875 active homes for sale in the MLS in King County, representing a 6.86 month supply of homes.   Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market. We have been hovering over the balanced market for 6 months now, contrary to what the media promotes.

 

  

 

  

  

   

  

 

*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.

 
  

 

 

Pierce County
  
When comparing August 2008 to August 2007, the average price of a home* in Pierce County depreciated 16.84 percent, according to the NWMLS statistics.  More specifically, the average price tumbled from $326,520 to $279,452 and the median price fell from $285,000 to $250,975 for a decrease of 13.56 percent over August 2007.  In Pierce County, the average asking price for a resale house or condo is $400,212 - and that doesn't include any of the new homes that builders are trying to sell.
 
The average time that homes were on the market before accepting an offer was 89 days, which is an improvement over last month’s average.  In August 2007, there were 8,839 active homes for sale in Pierce County.  At the end of August 2008, there were 7,958 active homes for sale in the MLS in Pierce County, representing a 8.01 month supply of homes.  Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.
  
     
    
  
 
   
 
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.

King & Pierce County, WA Update for August 2008

Sunday, August 10, 2008
by Stephanie Dawson
King & Pierce County Update for August 2008
  
When comparing July 2008 to July 2007, the average price of a home* in King County depreciated 5.43 percent, according to the NWMLS statistics.  Compared with July of last year, the average price decreased from $529,773 to $502,500 and the median price fell from $425,000 to $401,500 for a decrease of 5.85 percent over July 2007.   The average asking price for a resale home or condo in King County is $653,160 - not including brand new homes!
 
The average time that homes were on the market before accepting an offer was 69 days, which is an improvement over last month.  At the end of July 2007, there were 12,902 active homes for sale in King County.  By comparison, at the end of July 2008, there were 16,313 active homes for sale in the MLS in King County, representing a 6.9 month supply of homes.   Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.  We have been hovering over the balanced market for 6 months now, contrary to what the media promotes.
  

 

 

 

 

*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.
 
  

Pierce County
When comparing July 2008 to July 2007, the average price of a home* in Pierce County depreciated 9.33 percent, according to the NWMLS statistics.  More specifically, the average price decreased from $313,398 to $286,666 and the median price fell from $281,400 to $255,000 for a decrease of 10.35 percent over July 2007.  In Pierce County, the average asking price for a resale house or condo is $403,534 - and that doesn't include any of the new homes that builders are trying to sell.
 
The average time that homes were on the market before accepting an offer was 90 days, which is an improvement over last month’s average.  In July 2007, there were 8,700 active homes for sale in Pierce County.  At the end of July 2008, there were 8,123 active homes for sale in the MLS in Pierce County, representing a 6.97 month supply of homes.  Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.
 
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.

King & Pierce County, WA Update for July 2008

Tuesday, July 08, 2008
by Stephanie Dawson

 

King County Update for July 2008
  
When comparing June 2008 to June 2007, the average price of a home* in King County depreciated 1.04 percent, according to the NWMLS statistics.  Compared with June of last year, the average price decreased from $507,968 to $502,727 and the median price fell from $414,950 to an even $400,000 for a decrease of 3.74 percent over June 2007.  The good news is that June's average home price appreciated 1.59 percent over May 2008.  Sellers remain optimistic about the housing market: the average asking price in King County is $660,953 - not including brand new homes!
 
The average time that homes were on the market before accepting an offer was 72 days, which is another nice improvement over last month.  At the end of June 2007, there were 12,282 active homes for sale in King County. By comparison, at the end of June 2008, there were 15,831 active homes for sale in the MLS in King County, representing a 6.21 month supply of homes.   Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.
 
 
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.
 
Pierce County Update for July 2008
  
When comparing June 2008 to June 2007, the average price of a home* in Pierce County depreciated 7.59 percent, according to the NWMLS statistics.  More specifically, the average price decreased from a record high of $320,511 to $297,890 and the median price fell from $277,500 to $259,250 for a decrease of 7.04 percent over June 2007.  The silver lining is that closed home sale prices have increased 1.63 percent compared to May 2008.  Sellers remain optimistic because the average asking price of a home in Pierce County is $404,270 - and that doesn't include all the new homes that builders are trying to sell.
 
The average time that homes were on the market before accepting an offer was 97 days, which is an improvement over last month’s average.  In June 2007, there were 8,426 active homes for sale in Pierce County.  At the end of June 2008, there were 7,949 active homes for sale in the MLS in Pierce County, representing a 7.56 month supply of homes.  Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.
*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports and all charts were created by and are the property of Stephanie Dawson.

King & Pierce County, WA Update for June 2008

Monday, June 09, 2008
by Stephanie Dawson
King & Pierce County Update for June 2008
When comparing May 2008 to May 2007, the average price of a home* in King County depreciated 5.36 percent, according to the NWMLS statistics.  More specifically, the average price decreased from $521,402 to $494,868 and the median price fell from $411,868 to $399,950 for an decrease of 2.98 percent over May 2007. 
 
The average time that homes were on the market before accepting an offer was 76 days, which is a small improvement over last month.  At the end of May 2007, there were 11,204 active homes for sale in King County. At the end of May 2008, there were 16,435 active homes for sale in the MLS in King County, representing a 6.81 month supply of homes.   Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market. 
 

*When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums. All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports.
 
Pierce County
 
When comparing May 2008 to May 2007, the average price of a home* in Pierce County depreciated 7.64 percent, according to the NWMLS statistics.  More specifically, the average price decreased from $315,511 to $293,118 and the median price fell from $281,000 to $259,739 for a decrease of 8.19 percent over May 2007. 
 
The average time that homes were on the market before accepting an offer was 105 days, which is greater than last month’s average.  Last May 2007, there were 8,039 active homes for sale in Pierce County. At the end of May 2008, there were 8,548 active homes for sale in the MLS in Pierce County, representing an 8.8 month supply of homes.  Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.  
 

 *When reporting on homes in this update, the numbers represent only single family re-sale homes, townhouses & condominiums.  All of the data used in this report does not include any brand new homes, manufactured homes or vacant land. All data comes from the NWMLS Statistics reports.

Home Improvements: Cost vs. Value Report

Saturday, May 31, 2008
by Stephanie Dawson
    I’m finding that in this slower housing market, many would-be sellers are choosing to stay in their property longer, as they wait for their home values to rise.  In order to feel like they've moved, some Americans are remodeling their home.  This allows them to stay in the same house, but enjoy the upgrades or additions to the home.  It will also help them gain more money for their property when it finally is the right time to sell.
   
 
 
 
    REALTOR® Magazine published an article that explained that exterior upgrades are yielding more money in return that interior upgrades. Remodeling Magazine joined together with REALTOR® Magazine to assess the cost vs. value or remodeling last year.  Real Estate Agents in 65 different markets across the U.S. were provided with construction specifications and costs for 29 different midrange and upscale home projects.  Each agent was asked to estimate the percentage of return once the home was re-sold
  
 
 
 
    Across the nation, the return of most of the projects decreased in value in 2007, compared with 2006's report.  None of the projects were greater than an 88% return, due to increasing remodeling costs and the nation's slower housing appreciation.
 
 
 
  
    The good news for us in the Pacific Northwest is that six of the 29 projects were estimated with a cost recovery of over 100%!  These improvements were: adding a wood deck, doing a minor kitchen remodel, replacing siding with fiber-cement, replacing wood windows, and upscale vinyl and wood replacements.
  
    The national trends showed that the lowest cost-recovery home improvement projects included: home office remodels (57%), installing a back-up power generator (58%), and adding a mid-range sunroom (59%).
  
 
 
 
    Here are the 2007 costs recouped for home improvement projects in the Pacific (Washington, Oregon and California) in alphabetical order, according to the data at RemodelingOnline.
   
 
 
 
 
MIDRANGE IMPROVEMENTS:
Attic Converted to a Bedroom: 98%
Back-Up Power Generator: 63.6%
Basement Remodel: 96.8%
Bathroom Addition: 83.5%
Bathroom Remodel: 96.6%
Deck Addition – Wood: 108%
Family Room Addition: 84.8%
Garage Addition: 88%
Home Office Remodel: 68.9%
Major Kitchen Remodel: 96.6%
Master Suite Addition: 87.2%
Minor Kitchen Remodel: 103.5%
Roofing Replacement: 85.1%
Siding Replacement: 82.9%
Sunroom Addition: 69.4%
Two-Story Addition: 90.9%
Window Replacement – Vinyl: 98.5%
Window Replacement – Wood: 102.9%
 
UPSCALE IMPROVEMENTS:
Bathroom Addition: 84.1%
Bathroom Remodel: 84.7%
Deck Addition – Composite: 98.4%
Garage Addition: 78.1%
Major Kitchen Remodel: 88.9%
Master Suite Addition: 77.3%
Roofing Replacement - Steel: 79.9%
Siding Replacement: 80.3%
Window Replacement – Vinyl: 100.7%
Window Replacement – Wood: 103.4%
   
    If you have questions about your home's current market value... or any other real estate questions, please contact me.  Remember, you don't have to be buying or selling to use my services.  I am here to help!
    
   And, if you'd like to talk to a general contractor that is honest, a hard-worker, prices very competitvely and does a thorough job, please contact my husband Jake with Jake of All Trades.  His number is 206/419-2834 or GPSjake@gmail.com.
 

King & Pierce County, Washington Real Estate Update - December 2007

Wednesday, December 12, 2007
by Stephanie Dawson
King & Pierce County Update for December 2007
 
The news media reports the median price for homes for our area, but after a close investigation, I concluded that the numbers they use are for residential re-sale homes, re-sale condominiums and townhomes only. The median price they report on does not include new homes, new condos & townhomes, manufactured homes or vacant land.
 
The data I will be presenting to you each month will come from the same source as the media, so that the numbers you hear are consistent. And, because I mainly work in King and Pierce Counties, I will be providing you with information on both of these areas.
 
 
 
King County
 
 
 
 
For the 12 months ending in November 2007 vs. the previous 12 months, the average price of residential re-sale homes, townhouses & condominiums in King County appreciated less than half of one percent, according to the NWMLS.  The average price rose slightly from $474,142 to $476,207 and the median price fell from $397,500 to $385,990 for a decrease of 2.9% for the same 12 month period.  The average time that listings were on the market before accepting an offer was 64 days.  At the end of November there were 15,256 active listings in the MLS for King County, representing a 6.98 month supply of homes.  Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.   
 
 
 
 
 
The chart below shows the Median Sales Price for the King County area as compared to last year.

 

 
 
 
 
 
Pierce County
 
 
 
 
For the 12 months ending in November 2007 vs. the previous 12 months, the average price of residential re-sale homes, townhouses & condominiums in Pierce County depreciated by 1.9%, according to the NWMLS.  The average price fell from $302,684 to $296,996 and the median price fell from $274,950 to $262,950 for a decrease of 4.6% for the same 12 month period.  The average time that listings were on the market before accepting an offer was 88 days.  At the end of November there were 10,233 active listings in the MLS for Pierce County, representing an 11.5 month supply of homes.  Six months is considered an optimum balanced market.  Anything over six months is considered to be a Buyer’s Market and a supply of less than six months is considered a Seller’s Market.   
 
 
 
 
The chart below shows the Median Sales Price for the Pierce County area as compared to last year.
 

Contact Information

Photo of Stephanie Dawson Real Estate
Stephanie Dawson
John L. Scott KMS Real Estate
20632 - 108th Ave SE
Kent WA 98031
Direct: (206) 419-2833
Fax: Office: (253) 852-9200 ext. 357
Send An Email

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