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.