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Pierce County Report: NW Multiple Listing Service Stats for June

A market correction is underway, giving buyers some relief, but it is still a seller’s market. Pierce County isn’t feeling the swing as strongly as King County: Buyers seeing that in Pierce County they can buy twice the house for about half the price, are keeping inventory low and prices continuing to appreciate in Pierce County.

At month end, there were 2,045 active listings in the MLS database, 45 more than May’s 2,000 inventory, and 8% less than 2,227 homes and condos listed a year ago.   MLS brokers added 1,892 new listings to inventory during June, 455 (19%) less than last month, and 190 less than last June.

June’s 2,017 pending sales were 3% lower than May’s 2,081 mutually accepted offers, and 1.8% higher than 1,982 pending sales last June.

Pierce County MLS members reported 1,622 closed sales during June.  This is 10% higher than last month’s 1,470 closed sales, and 150 (8.5%) less than 1,772 completed transactions in June a year ago.

The median price for June’s closed sales of single family homes and condominiums (combined) was $372,500. This is up 7.4% from the June 2018 figure of $346,975.  The average time on market for properties that sold was 28 days, compared to 33 days last month and 22 days this month last year. Pierce County has a 1.26 month supply of housing inventory on the market. (4-6 months is considered a balanced market.)

Pierce County Report: NW Multiple Listing Service Stats for May

Spring is here and the real estate market is heating up with increased inventory and sales, and reduced days on market.  James Young, Director of the WA Center of Real Estate Research at UW, expects interest rates to remain low and prices to continue to rise throughout the peak season.

At month end, there were 2,000 active listings in the MLS database, 498 more than April’s 1,502 inventory, and 3.7% more than 1,929 homes and condos listed a year ago.   MLS brokers added 2,347 new listings to inventory during May, 636 (37%) more than last month, and 33 less than last May.

May’s 2,081 pending sales were 12.7% higher than April’s 1,847 mutually accepted offers, and 3.3% lower than 2,151 pending sales last May.

Pierce County MLS members reported 1,470 closed sales during May.  This is 14% higher than last month’s 1,286 closed sales, and 87 (5.7%) less than 1,559 completed transactions in May a year ago.

The median price for May’s closed sales of single family homes and condominiums (combined) was $365,000. This is up 4.3% from the May 2018 figure of $350,000.  The average time on market for properties that sold was 33 days, compared to 36 days last month and 27 days this month last year. Pierce County has a 1.36 month supply of housing inventory on the market. (4-6 months is considered a balanced market.)

Pierce County Report: NW Multiple Listing Service Stats for April

Pierce County homes are appreciating at a higher rate than King, Snohomish and Kitsap counties.  Supply and demand explains it: Those counties have had huge inventory gains while Pierce County homes sales kept pace with increased new listings in April, causing only a slight increase in total listings at month end.  Our 1.17 month supply of housing inventory is the second lowest in the state.

At month end, there were 1,502 active listings in the MLS database, 28 more than March’s 1,474 inventory, and 2% more than 1,472 homes and condos listed a year ago.   MLS brokers added 1,711 new listings to inventory during April, 144 (9%) more than last month, and 164 less than last April.

April’s 1,847 pending sales were 5% higher than March’s 1,759 mutually accepted offers, and 6.6% lower than 1,977 pending sales last April.

Pierce County MLS members reported 1,286 closed sales during April.  This is 5% higher than last month’s 1,226 closed sales, and 57 (4%) less than 1,343 completed transactions in April a year ago.

The median price for April’s closed sales of single family homes and condominiums (combined) was $355,000. This is up 5% from the April 2018 figure of $337,950.  The average time on market for properties that sold was 36 days, compared to 46 days last month and 35 days this month last year. Pierce County has a 1.17 month supply of housing inventory on the market. (4-6 months is considered a balanced market.)

Pierce County Report: NW Multiple Listing Service Stats for March

March, the start of prime-time selling season, showed big jumps from February in new listings and sales activity, keeping the number of active listings fairly constant. Pierce County’s 1.2 month supply of housing inventory is lower than King, Kitsap or Snohomish Counties.  Sellers benefit from a tight market. Buyers are benefiting from low interest rates and more selection. It’s a good time for both to be in the market.

At month end, there were 1,474 active listings in the MLS database, 12 less than February’s 1,486 inventory, and 9% more than 1,350 homes and condos listed a year ago.   MLS brokers added 1,567 new listings to inventory during March, 542 (53%) more than last month, and 200 less than last March.

March’s 1,759 pending sales were 36% higher than February’s 1290 mutually accepted offers, and 5% lower than 1,856 pending sales last March.

Pierce County MLS members reported 1,226 closed sales during March.  This is 36% higher than last month’s 901 closed sales, and 143 (10.5%) less than 1,369 completed transactions in March a year ago.

The median price for March’s closed sales of single family homes and condominiums (combined) was $359,225. This is up 4.9% from the March 2018 figure of $342,500.  The average time on market for properties that sold was 46 days, compared to 53 days last month and 43days this month last year. Pierce County has a 1.2 month supply of housing inventory on the market. (4-6 months is considered a balanced market.)

Pierce County Report: NW Multiple Listing Service Stats for February

Heavy snows curbed real estate activity in February. New sales outstripped new listings for the sixth month in a row, continuing a six month decline in inventory, although inventory is still significantly higher than this time last year. The median price of sales that closed in February was the highest since May, probably a reflection of the December drop in interest rates.  

At month end, there were 1,486 active listings in the MLS database, 137 less than January’s 1,623 inventory, and 25% more than 1,189 homes and condos listed a year ago.   MLS brokers added 1,025 new listings to inventory during February, 220 (18%) less than last month, and 186 less than last February.

February’s 1,290 pending sales were 9% lower than January’s 1418 mutually accepted offers, and 20% lower than 1,617 pending sales last February.

Pierce County MLS members reported 901 closed sales during February.  This is slightly higher than last month’s 895 closed sales, and 148 (14%) less than 1,049 completed transactions in February a year ago.

The median price for February’s closed sales of single family homes and condominiums (combined) was $350,000. This is up 9.4% from the February 2018 figure of $320,000.  The average time on market for properties that sold was 53 days, compared to 50 days last month and 47 days this month last year. Pierce County has a 1.7 month supply of housing inventory on the market. (4-6 months is considered a balanced market.)

Pierce County Report: NW Multiple Listing Service Stats for January

Pierce County’s January figures show the lowest year-over-year price gain in over three years, while prices actually dropped in King County, leading some to wonder if the market has peaked.  Inventory continues to be higher than a year ago, but supply is still tight.  Buyers are attracted by lower interest rates, but housing affordability is still a concern, especially for first- time buyers.

At month end, there were 1,623 active listings in the MLS database, 105 less than December’s 1,728 inventory, and 19% more than 1,360 homes and condos listed a year ago.   MLS brokers added 1,245 new listings to inventory during January, 565 (83%) more than last month, and 12 more than last January.

January’s 1,418 pending sales were 34% higher than December’s 1,056 mutually accepted offers, and 10% lower than 1,570 pending sales last January.

Pierce County MLS members reported 895 closed sales during January.  This is 21% lower than last month’s 1,134closed sales, and 103 (10%) less than 998 completed transactions in January a year ago.

The median price for January’s closed sales of single family homes and condominiums (combined) was $326,950. This is up 6.4% from the January 2018 figure of $307,250.  The average time on market for properties that sold was 50 days, compared to 47 days last month and 47 days this month last year. Pierce County has a 1.8 month supply of housing inventory on the market. (4-6 months is considered a balanced market.)

Pierce County Report: NW Multiple Listing Service Stats for December

2018 is being described as a transition year with some balancing of the market, although it is still seller-leaning due to lack of housing inventory for a job-expanding regional economy. Predictions for 2019 include a continuing trend toward a more balanced market with home prices continuing to rise, but at a more moderate rate, with cautious buyers and activity moving from urban center’s higher prices to lower priced areas.

At month end, there were 1,728 active listings in the MLS database, 458 less than November’s 2,186 inventory, and 15% more than 1,500 homes and condos listed a year ago.   MLS brokers added 680 new listings to inventory during December, 356 (34%) less than last month, and 192 less than last December.

December’s 1,056 pending sales were 19% lower than November’s 1,308 mutually accepted offers, and 15.4% lower than 1,248 pending sales last December.

Pierce County MLS members reported 1,134 closed sales during December.  This is 6% lower than last month’s 1,207closed sales, and 222 (16%) less than 1,356 completed transactions in December a year ago.

The median price for December’s closed sales of single family homes and condominiums (combined) was $339,838. This is up 8% from the December 2017 figure of $314,995.  The average time on market for properties that sold was 47 days, compared to 39 days last month and 45 days this month last year. Pierce County has a 1.5 month supply of housing inventory on the market. (4-6 months is considered a balanced market.)

Pierce County Report: NW Multiple Listing Service Stats for October

Signs of the upcoming holiday/winter season were evident in October with fewer new listings than we’ve seen since February. The trend toward a more balanced market encouraged buyers, shown in increased pending and closed sales over the previous month, although still not as high a volume as we had last October. Increased average days on market and slowing price increases are additional signs that things are starting to shift.   

At month end, there were 2,474 active listings in the MLS database, 268 less than September’s 2,742 inventory, and 12.3% more than 2,204 homes and condos listed a year ago.   MLS brokers added 1,407 new listings to inventory during October, 150 (9.6%) less than last month, and 34 less than the same month a year ago.

October’s 1,652 pending sales were 2.5% higher than September’s 1,612 mutually accepted offers, but 14.5% lower than 1,934 pending sales last October.

Pierce County MLS members reported 1,427 closed sales during October.  This is 4.4% higher than last month’s 1,367 closed sales, and 119 (7.7%) less than 1,546 completed transactions in October a year ago.

The median price for October’s closed sales of single family homes and condominiums (combined) was $331,000. This is up 7% from the October 2017 figure of $309,000.  The average time on market for properties that sold was 37 days, compared to 32 days last month and 35 days this month last year. Pierce County has a 1.7 month supply of housing inventory on the market. (4-6 months is considered a balanced market.)

Pierce County Report: NW Multiple Listing Service Stats for September

We are trending toward a more balanced market: House hunters have the largest supply of homes in two years. Houses are staying on the market a little longer, and prices aren’t rising as rapidly. Sellers need to be realistic in their pricing. Buyers should consider a move now while they have more home choices and can avoid continued home price and interest rate increases.

At month end, there were 2,742 active listings in the MLS database, 5 more than August’s 2,737 inventory, and 7.3% more than 2,556 homes and condos listed a year ago.   MLS brokers added 1,557 new listings to inventory during September, 493 (24%) less than last month, and 112 less than the same month a year ago.

September’s 1,612 pending sales were 13.6% lower than August’s 1,867 mutually accepted offers, and 9% less than 1,775 pending sales last September.

Pierce County MLS members reported 1,367 closed sales during September.  This is a 15% drop from last month’s 1,610 closed sales, and 250 (15.5%) less than 1,617 completed transactions in September a year ago.

The median price for September’s closed sales of single family homes and condominiums (combined) was $345,000. This is up 9.5% from the September 2017 figure of $315,000.  The average time on market for properties that sold was 32 days, compared to 27 days last month and 33 days this month last year. Pierce County has a 2 month supply of housing inventory on the market. (4-6 months is considered a balanced market.)

Pierce County Report: NW Multiple Listing Service Stats for July

Inventory has been gradually increasing since February. There is now a 1.5 month supply of listings on the market, the highest it’s been since last September. These are signs of relief for buyers, but it will still be a long time before they are on a level playing field with sellers. Pierce County’s 13.8% year-over-year price increase this month was higher than King, Snohomish or Kitsap County.  Buyers should consider a move now while they have more home choices and can avoid continued home price and interest rate increases.

At month end, there were 2,413 active listings in the MLS database, 186 more than June’s 2,227 inventory, but 3.4% less than 2,499 homes and condos listed a year ago.   MLS brokers added 1,990 new listings to inventory during July, 92 (4%) less than last month, and 107 less than the same month a year ago.

July’s 2,012 pending sales were 1.5% lower than June’s 1,982 mutually accepted offers, and 8.9% less than 2,208 pending sales last July.

Pierce County MLS members reported 1,605 closed sales during July.  This is a 9% drop from last month’s 1,772 closed sales, and 30 less than 1,635 completed transactions in July a year ago.

The median price for July’s closed sales of single family homes and condominiums (combined) was $348,450. This is up 13.9% from the July 2017 figure of $306,000.  The average time on market for properties that sold was 23 days, compared to 23 days last month and 26 days this month last year. Pierce County has a 1.5 month supply of housing inventory on the market. (4-6 months is considered a balanced market.)

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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

Phil Mondau: 360-789-5355
Email: PhilM.Keynote@gmail.com


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