Tuesday, October 8, 2013

Pierce County home prices rise again

Pierce County home prices ticked up again in September, data released Friday showed, continuing the trend it has followed all year.
The median sale price for homes and condos in Pierce County last month was $220,000, up almost 10 percent from the same time a year ago, according to data from the Northwest Multiple Listings Service. At the median sale price, half the homes sold for more than that amount, and half sold for less.
Thurston County prices also increased by 8 percent to $228,497
King County’s median price hit $384,925, a 15 percent year-over-year jump.
The Northwest Multiple Listing Service represents 21 counties in Western and Central Washington.
In a news release, the service said September “tested the housing market’s resilience” with changing mortgage rates, record-setting rain and inventory shortages in some areas – mostly King and Snohomish counties.
In the South Sound region, both Pierce and Thurston counties have a 3-4 month supply of available homes – close to the 4-6 months brokers consider to be a sign of a balanced market. By comparison, King and Snohomish counties have about two month’s worth of homes listed for sale.
Dick Beeson, a Tacoma broker, said in the release that the South Sound market is “still speeding along, just not as high and mighty as it was.” He cited lots of uncertainty around monetary policy, job growth, the number of first-time homebuyers and the government shutdown.

Read more here: http://www.thenewstribune.com/2013/10/04/2821110/pierce-county-home-prices-rise.html#storylink=cpy