Where Are the Hottest Areas of Our Real Estate Market?

The real estate market here in Pierce County is hotter in some areas than others. Here’s what you need to know.

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I’ve got a quick update for you today so you know what’s going on in the Pierce County real estate market as we head into the 4th quarter of 2019. The latest Q3 numbers are in, so I’ll give you a quick look at what I’ve been noticing out there. For starters, the hottest spot in all of Pierce County is Central Tacoma. Year over year, we’ve seen a 14.7% increase in home values there. The median home value is $351,000. On the other end of the spectrum, we have Gig Harbor. This area has seen 0% appreciation since this time last year, but still has a median sale price of $500,000. This is the highest median price in all of Pierce County. Inventory is down 15% from where it was last year as well.

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Gig Harbor homes didn’t appreciate much, but they still have the highest median price.

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Throughout all of Pierce County, we have about 20% fewer homes to choose from than we had at this time last year. This is great news for sellers who have been on the fence. With decreased inventory, you have that much less competition for your property. This will give you a much better position and a much greater chance of selling for top dollar.

Our market is much more challenging for buyers at the moment. No doubt about it. That being said, I would encourage you to buy now. My wife and I are actively purchasing properties right now even though it's a “seller’s market.” Interest rates are still low, and are only projected to increase from here on out. We have helped buyers in this kind of market and would love to help you too.

If you have any questions for us in the meantime, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.