What’s Going on in Pierce County Real Estate?

Here’s your Pierce County real estate update through the end of November. 

The median sales price in Pierce County is $442,000, and we’ve seen a 15% increase in home values since this same time last year. Homes are spending an average of six days on the market, meaning that sellers typically accept an offer on their homes within six days after listing them. 

The number of pending listings is up by 17% year over year, leaving us with 264 this November. As you can see on the chart at 1:43 in the video above, the number of pendings we have on the market is typically seasonal, peaking in the summer and dipping near January, but this year, we’re still up!

The next chart you’ll see shows the number of active listings compared to the number of actual home sales over a five-year period. The number of homes for sale is down by 50% compared to last year, and the number of sales is up by 20%, which leaves us at a point where sales are significantly outpacing the number of available homes. Any available inventory is quickly eaten up by the market as soon as it appears.

" I have never seen such a solid time to sell a home!"

In terms of months of inventory, we’re at all-time lows, having dropped down to a mere 0.4 months, or two weeks. That means if no more homes came on the market, with the rate that homes are selling in Pierce County, we’d be completely out of supply in just two weeks.

The market is breaking records left and right; I have never seen such a solid time to sell a home! If you’re thinking about selling your home within the next six to 12 months, I recommend that you talk to a professional to help you assess what opportunities are available to you. Nobody knows what the market will look like in six months, so now is a good time to get started.

If you have any questions, don’t hesitate to reach out to us at the Hauer Home Team. We’re here to be of service to you.