High Pressure Real Estate

Bob Call, my managing broker at Coldwell Banker Bain, has been in real estate forever. He's a pretty savvy guy. Here's his take on what's going on in Tacoma real estate:

Let’s talk about the weather... a high pressure system: ”pressure from above sinking downward”. In terms of the real estate market, we are experiencing a high pressure system. The upper stratosphere of home prices in Pierce County (above $750,000) is still encumbered by over 36 months of inventory. And although we have seen an uptick in sales throughout all price ranges the entry level price range (up to $275,000) is the most vibrant with only 4.7 months of active inventory. This high pressure system makes the perfect storm for move-up buyers: lower price brackets are experiencing a stabilizing marketplace and upper prices are continuing to experience downward pressure to reduce prices. So, although the value of the lower priced home prices are lower today than yesteryear, it is a great opportunity for those selling in the lower price brackets to move up to that price range that has greater pressure from above. It’s a great time to “move-up” and take advantage of the “High Pressure System”.

Thanks, Bob!