April statistics show year-over-year gains in pending sales, closed sales and prices. Increased new listings are helping to keep the inventory relatively stable, although still significantly lower than last year, continuing a seller’s market with only 1.52 month’s supply of inventory in Pierce County.
At month end, there were 2,050 active listings in the MLS database, 12% more than March’s 1,824 inventory, and 27% less than 2,796 homes and condos listed a year ago. MLS brokers added 1,939 new listings to inventory during April, 242 more than last month, and 214 more than the same month a year ago.
April’s 1,987 pending sales were slightly higher than March’s 1,980 mutually accepted offers, and 4% lower than 1,909 pending sales last April.
Pierce County MLS members reported 1,346 closed sales during April. This is a 6% increase from last month’s 1,267 closed sales, and a 3% increase from 1,307 completed transactions in April a year ago.
The median price for April’s closed sales of single family homes and condominiums (combined) was $264,000. This is up 8.6% from the April 2015 figure of $243,000. The average time on market for properties that sold was 49 days, compared to 61 days last month and 68 days this month last year.