Pierce County Market Update – October 2019. Follow our market as a whole or (more specifically), your neighborhood or area of interest. Median Price, Days on Market and Chance of Selling (# of Active Homes/# of Sold Homes) are three metrics that we track and expand upon to gauge Market Activity.
For more info. TEXT/CALL/EMAIL Realtor Jenny Wetzel
(253) 381-9788. Jenny@jennywetzelhomes.com
For those who have been tracking the Real Estate Market for years, you will not be surprised to see that during the Month of October, Days on market has increased and Median Price has decreased. We’ve seen this consistently for the last 3 years! Less buyers AND sellers in the market, hence why we see no change in chance of selling. Consult with a Professional to see if listing your home during the winter months would be advised.
Hot Areas like North Tacoma have seen an increase in Median Price. Days on Market is influenced by homes that are overpriced (outliers). Don’t be fooled by this. Homes are still selling in 3 – 5 days and with multiple offers.
PRO TIP FOR BUYERS: As we enter into the Holiday season, don’t give up! Continue to House Hunt, you maybe able to get your next home by scooting in while others are taking a break.
I don’t expect that we’ll see this Median Price for long. South and East Tacoma are the two most affordable communities within Tacoma. Proximity to freeways, Inventory of charming older homes and the bandwidth to support small and large business. Mark my words, we will see a median price of over 300K in 2020.
Given the higher price point of homes in Gig Harbor, it’s a relief to sellers to see Median Days on market at only 21 days this time of year. I expect this number to increase over the next 2 months, chances of selling to decline, but see Median price stay stagnant or increase. Gig Harbor is home to the most expensive housing inventory as a whole. Homes priced at 2Million or above may keep the Median days at or above the current Median Price.
The Spanaway Community has been the hottest House Marketing in Pierce County through 2019. Despite the slower season, chances of selling are over 100%.
Puyallup. For Seattle commuters this is a community that is highly considered as transportation and drive times are less compared to Tacoma. Newer homes, most of which are located within communities governed by Home Owner Associations (HOA). Or homes with more than 1/2 an acre of land and privacy. If you are hoping to invest in a home that has half an acre of land or more, expect to pay over 500K,
Fircrest is a Small Community with few homes for sale at any given time. (Currently there are less than 15!) We see dramatic fluctuation month to month because of this. If you are looking to invest in a home in Fircrest, expect to pay above $400K for a home that is not a fixer upper.
SELLING or BUYING in Pierce County?
CALL/TEXT/EMAIL Realtor Jenny Wetzel (253) 381-9788, Jenny @jennywetzelhomes.com
