Early spring has brought a bumper crop of homebuyers who are facing an inventory drought. Thinking about selling? You won’t find a time with less competition for your home or a larger bunch of people looking to buy.
Thinking about buying? Now is the time to avoid anticipated rising home prices and interest rates. A good realtor will set up an AutoSearch to help you know as soon as ‘that perfect house’ hits the market, and will help your offer compete with other buyers for it.
At month end, there were 2,836 active listings in the MLS database, 67 less than January’s 2,903 inventory, and 238 less than 3,074 homes and condos listed a year ago. MLS brokers added 1,220 new listings to inventory during February, 10 more than last month, and 12 more than the same month a year ago.
February’s 1,475 pending sales are 112 more than January’s 1,363 mutually accepted offers, and 19% higher than pending sales last February.
Pierce County MLS members reported 789 closed sales during February. This is a 4.4% increase from last month’s 756 closed sales, and a 14% increase from 692 completed transactions in February a year ago.
The median price for February’s closed sales of single family homes and condominiums (combined) was $233,000. This is up 6.8% from the February 2014 figure of $218,117. The average time on market for properties that sold was 77 days, compared to 78 days last month and 78 days this month last year.