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Pierce County Report: NW Multiple Listing Service Stats for April

April’s pending sales and closed sales were both lower than last month (unusual for April), and lower than April last year. These reduced sales are a result of reduced inventory; new listings in April are also lower than the previous month and the same month a year ago.  The only upward trending numbers are on median sale prices in this ‘supply & demand’ driven seller’s market.

At month end, there were 1,604 active listings in the MLS database, 4.6% more than March’s 1,533 inventory, and 22% less than 2,050 homes and condos listed a year ago.   MLS brokers added 1,762 new listings to inventory during April, 53 less than last month, and 177 less than the same month a year ago.

April’s 1,920 pending sales were slightly lower than March’s 1,928 mutually accepted offers, and 3.4%  lower than 1,987 pending sales last April.

Pierce County MLS members reported 1,289 closed sales during April.  This is a 5% decrease from last month’s 1,361 closed sales, and a 4.2% decrease from 1,346 completed transactions in April a year ago.

The median price for April’s closed sales of single family homes and condominiums (combined) was $290,500. This is up 10% from the April 2016 figure of $264,000.  The average time on market for properties that sold was 40 days, compared to 52 days last month and 48 days this month last year.

Pierce County Report: NW Multiple Listing Service Stats for March

March saw a huge bump in the number of new listings, but the month ended with only a small (but welcome!) increase in total inventory from the previous month because of the increased number of pending sales.  There is only 1.13 months supply of listing inventory in Pierce County – a new low.  (Four to six months is considered a balanced market.)

At month end, there were 1,533 active listings in the MLS database, 8.3% more than February’s 1,416 inventory, and 16% less than 1,824 homes and condos listed a year ago.   MLS brokers added 1,815 new listings to inventory during March, 598 more than last month, and 118 more than the same month a year ago.

March’s 1,928 pending sales were 19.3% higher than February’s 1,616 mutually accepted offers, but 2.6% lower than 1,980 pending sales last March.

Pierce County MLS members reported 1,361 closed sales during March.  This is a 38% increase from last month’s 985 closed sales, and a 7.4% increase from 1,267 completed transactions in March a year ago.

The median price for March’s closed sales of single family homes and condominiums (combined) was $290,000. This is up 11% from the March 2016 figure of $261,000.  The average time on market for properties that sold was 52 days, compared to 57 days last month and 61 days this month last year.

Pierce County Report: NW Multiple Listing Service Stats for February

Home buyers are catching spring fever before sellers are, causing inventory to be at its lowest in over a decade, and causing year-over-year pending sales to decline for the first time since March 2016.  The median price of homes in Pierce County is about 55% of the price in King County, making it attractive to buyer’s being priced out of the King County market.

At month end, there were 1,416 active listings in the MLS database, 10% less than January’s 1,575 inventory, and 24% less than 1,861 homes and condos listed a year ago.   MLS brokers added 1,217 new listings to inventory during February, 76 more than last month, and 96 less than the same month a year ago.

February’s 1,616 pending sales were 5.6% higher than January’s 1,530 mutually accepted offers, but 5.3% lower than 1,707 pending sales last February.

Pierce County MLS members reported 985 closed sales during February.  This is a 10.4% decrease from last month’s 1,099 closed sales, but a 13.7% increase from 866 completed transactions in February a year ago.

The median price for February’s closed sales of single family homes and condominiums (combined) was $274,950. This is up 10.3% from the February 2016 figure of $249,250.  The average time on market for properties that sold was 57 days, compared to 54 days last month and 65 days this month last year.

Pierce County Report: NW Multiple Listing Service Stats for January

An increasing number of new homes are being placed on the market each month as we have an early start to the spring season, but the well prepared and well priced ones sell quickly. Pierce County is starting the year with only 77% of the inventory it had last year because pending sales continue to take more homes of the market than new sellers add.

At month end, there were 1,575 active listings in the MLS database, 10.7% less than December’s 1,763 inventory, and 23% less than 2,040 homes and condos listed a year ago.   MLS brokers added 1,141 new listings to inventory during January, 334 more than last month, and 17 more than the same month a year ago.

January’s 1,530 pending sales were 27% higher than December’s 1,201 mutually accepted offers, and 12.5% higher than 1,360 pending sales last January.

Pierce County MLS members reported 1,099 closed sales during January.  This is a 17% increase from last month’s 1,326 closed sales, and a 21.6% increase from 904 completed transactions in January a year ago.

The median price for January’s closed sales of single family homes and condominiums (combined) was $267,000. This is up 11.3% from the January 2016 figure of $240,000.  The average time on market for properties that sold was 54 days, compared to 52 days last month and 67 days this month last year.

Pierce County Report: NW Multiple Listing Service Stats for December

Sales activity continued to be substantially higher than the number of new listings again in December; the resulting reduced inventory driving prices higher. Slowly increasing interest rates add to buyer concerns, but don’t appear to be cooling the market.   

At month end, there were 1,763 active listings in the MLS database, 19% less than November’s 2,173 inventory, and 17% less than 2,129 homes and condos listed a year ago.   MLS brokers added 807 new listings to inventory during December, 210 less than last month, but 90 more than the same month a year ago.

December’s 1,201 pending sales were 21% lower than November’s 1,518 mutually accepted offers, but 2.5% higher than 1,172 pending sales last December.

Pierce County MLS members reported 1,326 closed sales during December.  This is a 2% increase from last month’s 1,298 closed sales, and a 9.7% increase from 1,209 completed transactions in December a year ago.

The median price for December’s closed sales of single family homes and condominiums (combined) was $280,500. This is up 12.2% from the December 2015 figure of $249,950.  The average time on market for properties that sold was 52 days, compared to 43 days last month and 57 days this month last year.

Pierce County Report: NW Multiple Listing Service Stats for November

The number of November pending and closed sales are way ahead of last November, but the number of new listings only moderately so, causing another big drop in the number of active listings and continuing the sellers’ market we’ve been experiencing for over two years now.   

At month end, there were 2,173 active listings in the MLS database, 14.7% less than October’s 2,548 inventory, and 17.5% less than 2,635 homes and condos listed a year ago.   MLS brokers added 1,017 new listings to inventory during November, 316 less than last month, but 38 more than the same month a year ago.

November’s 1,518 pending sales were 14.7% lower than October’s 1,779 mutually accepted offers, but 18.5% higher than 1,281 pending sales last November.

Pierce County MLS members reported 1,298 closed sales during November.  This is a 3% decrease from last month’s 1,339 closed sales, and a 34.8% increase from 963 completed transactions in November a year ago.

The median price for November’s closed sales of single family homes and condominiums (combined) was $280,370. This is up 14.4% from the November 2015 figure of $245,000.  The average time on market for properties that sold was 43 days, compared to 41 days last month and 59 days this month last year.

Pierce County Report: NW Multiple Listing Service Stats for October

Pierce County home sales outgained new listings again in October as they have for over two years now, keeping the supply of listing inventory at under 2 months, as it has been since March. (Four to six months is considered a balanced market.) Provided low interest rates continue, we expect 2017 real estate activity to take off early with continued housing shortages leading to continued price increases.

At month end, there were 2,548 active listings in the MLS database, 11% less than September’s 2,863 inventory, and 13% less than 2,929 homes and condos listed a year ago.   MLS brokers added 1,333 new listings to inventory during October, 191 less than last month, and 11 less than the same month a year ago.

October’s 1,779 pending sales were 1.4% lower than September’s 1,805 mutually accepted offers, but 13.9%  higher than 1,562 pending sales last October.

Pierce County MLS members reported 1,339 closed sales during October.  This is a 11% decrease from last month’s 1,508 closed sales, and a 10.8% increase from 1,209 completed transactions in October a year ago.

The median price for October’s closed sales of single family homes and condominiums (combined) was $275,000. This is up 9.6% from the October 2015 figure of $251,000.  The average time on market for properties that sold was 41 days, compared to 37 days last month and 56 days this month last year.

Pierce County Report: NW Multiple Listing Service Stats for September

September activity reflected both a typical fall slowdown, and perhaps signs that the seller’s market is beginning to ease a bit. Sales and median prices were all lower than August figures, although still significantly higher than last year.   

At month end, there were 2,863 active listings in the MLS database, 4% less than August’s 2,987 inventory, and 8.7% less than 3,135 homes and condos listed a year ago.   MLS brokers added 1,524 new listings to inventory during September, 451 less than last month, but 116 more than the same month a year ago.

September’s 1,805 pending sales were 11.5% lower than August’s 2,040 mutually accepted offers, but 13.4%  higher than 1,592 pending sales last September.

Pierce County MLS members reported 1,508 closed sales during September.  This is a 4% decrease from last month’s 1,576 closed sales, and a 17.5% increase from 1,284 completed transactions in September a year ago.

The median price for September’s closed sales of single family homes and condominiums (combined) was $274,900. This is up 10% from the September 2015 figure of $249,925.  The average time on market for properties that sold was 37 days, compared to 38 days last month and 51 days this month last year.

Pierce County Report: NW Multiple Listing Service Stats for August

The number of homes on the market in Pierce County managed to creep up a bit last month, even while pending and closed sales were way higher than last August.  Inventory levels are still less than last year though, and we still have less than 2 months of inventory on hand. (Four to six months is considered a balanced market.)  

The August median sale price in Pierce County is up 18% from January, and at 2007’s  pre-bubble burst levels.  The price gap between Pierce County and King County is narrowing as demand shifts to more affordable homes here.

At month end, there were 2,987 active listings in the MLS database, 6% more than July’s 2,819 inventory, but 9.7% less than 3,307 homes and condos listed a year ago.   MLS brokers added 1,957 new listings to inventory during August, 82 less than last month, but 406 more than the same month a year ago.

August’s 2,040 pending sales were 2.8% lower than July’s 2,098 mutually accepted offers, but 18.5%  higher than 1,722 pending sales last August.

Pierce County MLS members reported 1,576 closed sales during August.  This is a 5% increase from last month’s 1,499 closed sales, and a 16.6% increase from 1,352 completed transactions in August a year ago.

The median price for August’s closed sales of single family homes and condominiums (combined) was $283,225. This is up 13.3% from the August 2015 figure of $250,000.  The average time on market for properties that sold was 38 days, compared to 32 days last month and 51 days this month last year.

Tacoma School rated prettiest in the country

That's right!  Tacoma's own Stadium High School was rated the most picturesque high school in the U.S.  No surprise to us.  The beautiful school originally built to be a hotel fashioned after a French castle, with its athletic bowl looking out over Commencement Bay is stunning, especially after its complete refurbishing.

See pictures and the full article here.

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Ron & Jeanette Lunceford
Keynote Real Estate
PO Box 64190
University Place, WA 98464
Office: 253-565-1617

Ron: 253-381-6296
Email: Rlunceford@KeynoteRE.com

Jeanette: 253-203-5296
Email: JLunceford@KeynoteRE.com
 


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Ron & Jeanette Lunceford  |  Keynote Real Estate  |  253-565-1617  |  JLunceford@KeynoteRE.com
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