Tacoma market report for November

Closed Transactions for November

Here are last month's statistics for North Tacoma, including downtown and University Place. 

Activity picked up again last month. 10% more homes closed in November this year than during the same month last year, but they took nearly five weeks longer to close.


The average sale was down 24% from the same month a year ago. Sellers accepted about  11% less than their original asking price.

Tacoma continues to be a buyers' market.

If you'd like the selling details of the home that closed in your neighborhood, just ask. I'll email you the information.

There are plenty of homes in inventory (1430) at every price point, from $32,500 to $6,400,000. The average listing price is $229,000 with a median price of $175,000.

Market Report: Tacoma sales activity up in October

Closed Transactions for October

Here are last month's statistics for North Tacoma, including downtown and University Place. 

Activity picked up last month. 22% more homes closed in October this year than during the same month last year, but they took nearly three weeks longer to close.


The average sale was down 17% from the same month a year ago. Sellers accepted about  12% less than their original asking price.

Tacoma continues to be a buyers' market.

If you'd like the selling details of the home that closed in your neighborhood, just ask. I'll email you the information.

Tacoma market activity up in third quarter of 2011

Third Quarter Closed Transactions

Activity during the third quarter this year was 28%  higher than the third quarter of last year, a significant increase from the second quarter results.

Transactions closed more quickly.  The average sale price was 30% lower, about the same as last quarter.

Sellers accepted, again, 12% less than their original listing price.

If you'd like the selling details of the home that sold in your neighborhood, just ask.

Market report for July

Closed Transactions for July

Here are last month's statistics for North Tacoma, including downtown and University Place. 

33% fewer homes closed this month than during July last year, and they closed 11 days sooner.


The average sale was down only 2% from the same month a year ago, an improvement over last month's numbers. Sellers accepted about  11% less than their original asking price.


Tacoma continues to be a buyers' market, but the trend is moving toward neutral.

Currently 748 single family residences are on the market. Listing prices range from $40,000 to $7M. The average listing price is $149,248, with half the inventory under the median price of $185,500.

If you'd like the selling details of the home that closed in your neighborhood, just ask. I'll email you the information.

Second quarter activity below last year, but no tax credit to spur market

Second Quarter Closed Transactions

Activity during the second quarter this year was 20%  lower than the second quarter of last year. 

Transactions closed more quickly.  The average sale price was 30% lower.

In 2010, buyers took advantage of the federal tax incentive. That incentive is gone, so a decline in numbers is not surprising.

If you'd like the selling details of the home that sold in your neighborhood, just ask.

Market report for June

Closed Transactions for June

Here are last month's statistics for North Tacoma, including downtown and University Place. 

32% fewer homes closed this month than during June last year, and they closed 16 days sooner.


The average sale was down 22% from the same month a year ago. Sellers accepted about  19% less than their original asking price.


Tacoma continues to be a buyers' market, but the trend is moving toward neutral.

Currently 476 single family residences are on the market. Listing prices range from $69,500 to $7M. The average listing price is $397,571, with half the inventory under the median price of $285,000.

If you'd like the selling details of the home that closed in your neighborhood, just ask. I'll email you the information.

Market report for May

Closed Transactions for May 

Here are last month's statistics for North, Central, and South Tacoma. 

27% fewer homes closed this month than during May last year, and they closed 12 days sooner.


The average sale was down 18% from the same month a year ago. Sellers accepted about nine percent less than their original asking price.


Tacoma continues to be a buyers' market, but the trend is moving toward neutral. Compared to last month, the numbers show an improvement in the market.

Currently 291 single family residences are on the market. Listing prices range from $109,500 to $7M. The average listing price is $413,400, with half the inventory under the median price of $275,000.

If you'd like the selling details of the home that closed in your neighborhood, just ask. I'll email you the information.

Pierce County real estate market may be the best since 2006

AND NOW… THE GOOD NEWS!

Last week an article appeared in The News Tribune titled “Home Sales on Decline in Pierce County”.  Although a cursory look at statistics would suggest that to be true, an understanding of the real estate market in Pierce County demonstrates the headline to be far from true.

Mr. Boone stated that sales were off 4.3% compared to last year.  The reality is that nearly 28% of that year’s pending sales were reported in the first quarter of 2010.  The previous 5 year normal was 24% of annual sales are reported in the first quarter.  The cause of the increase was a consequence of the tax credits, which literally borrowed buyers from later in the year; buyers who hastened their decision to buy and as a result there were more sales earlier in the year than is typical.  The consequential 4.3% reduction was miniscule when viewed through an annual sales perspective and in light of the tax credits.

If the sales activity in 2011 follows a more normal path and the new sales reported in 2011 through March equal the typical 24% of the total year’s sales, we are positioned for the best year since 2006!   

 

Take a look at the math… There were 3125 single-family pending home sales reported by the NWMLS in the first 3 months of 2011.  If that represents 24% of the anticipated sales for 2011 it would suggest that over 13,000 homes will sell in 2011… That’s an increase of over 10% in sales activity compared to 2010 – Now that’s a measurable change and with no false support by tax credits!

Thanks to Bob Call,  the Principal Managing Broker for the South Sound Region. Bob’s office is in the Tacoma Branch of CB Bain on Bridgeport Way.