Yesterday I thought I'd take a look and see how many homes are currently pending in Pierce County. The number might surprise you. There are 6214 active homes for sale (no offers on them) and, drum roll please... 1835 houses pending (under contract)! That's a lot of homes for this "down" market. Now, the reality is that a VERY large percentage of the pending homes are either bank owned or short sales and short sales, especially, spend a long time in escrow, sometimes as much as 3-5 months. I thought I would break down the pending homes in several parts of Pierce County. By the way, I have included condos in these numbers.
Tacoma 1921 active & 527 pending
Gig Harbor/Fox Island 786 active & 137 pending
Lakewood 321 active & 94 pending
University Place/Fircrest 218 active & 52 pending
Spanaway 325 active & 173 pending
Puyallup 818 active & 303 pending
As you can see, Spanaway is no longer a buyer's market, it's even. This is due to a couple of factors: affordable inventory for the average buyer and quite a few bank owned properties in the area driving prices down. As opposed to Gig Harbor where homes tend to be more expensive (fewer available buyers) and there are not nearly as many bank owned and short sales.
Stay tuned, the traditional strong housing season is just getting started...
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I haven't stopped lately to pull the MLS numbers, but just from my experience, the market is definitely warming up with the coming of Spring!
ReplyDeleteI have several new listings which are not 'we have to sell now' situations and a good number of active buyers. This is definitely a lot better season than last Fall, that is for sure!
The market is heating up in my neighborhood. Yeah!
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