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Today, I’ll go over what happened in the Tacoma real estate market during the first quarter of 2016.
We have had a hot real estate market so far this year. Right now, Pierce County is the fastest growing county in Washington State. There were so many multiple offers in King County that King County’s median sales price is actually double the median sales price in Pierce County. Buyers have begun to figure out that they can save money by buying in Pierce County, and that’s why the market has grown tremendously.
During the first quarter of 2015, a 3-bedroom, 2-bathroom, 2,000 square foot home sold for an average price of $255,000 and spent about 42 days on the market. This year, that same size house is selling for $312,500 and only spending 22 days on the market. That sales price has gone up by 18.4%, and homes are spending almost half the time on the market as they were last year. That’s incredible!
That’s great news for sellers, but buyers still have a great opportunity to build wealth by owning a home instead of paying those expensive rental rates. If you have any questions, give me a call or send me an email. I would be happy to help you!
We have had a hot real estate market so far this year. Right now, Pierce County is the fastest growing county in Washington State. There were so many multiple offers in King County that King County’s median sales price is actually double the median sales price in Pierce County. Buyers have begun to figure out that they can save money by buying in Pierce County, and that’s why the market has grown tremendously.
During the first quarter of 2015, a 3-bedroom, 2-bathroom, 2,000 square foot home sold for an average price of $255,000 and spent about 42 days on the market. This year, that same size house is selling for $312,500 and only spending 22 days on the market. That sales price has gone up by 18.4%, and homes are spending almost half the time on the market as they were last year. That’s incredible!
That’s great news for sellers, but buyers still have a great opportunity to build wealth by owning a home instead of paying those expensive rental rates. If you have any questions, give me a call or send me an email. I would be happy to help you!
