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.