The video above gives you a good national perspective. Here’s how the stats break out for the three county area (Pierce, Thurston and King County).
In Pierce county we closed out 2015 selling 13,273 homes, that’s up from 11,307 in 2014, a 15%. Pierce county finished the year with 2,001 Active listings compared to 2,752 active listings in 2014, a 27% DECREASE. So when you combine more homes selling with fewer homes on the market, that means we have LOW INVENTORY!! In addition, days on market decreased to 91 versus 96 in 2014. The telling stat too is that our average sold price is up from $257,555 in 2014 to $277,815 in 2015! A 7.8% Increase in home values! We’re back baby!!
King County has a fitting title as the King of Washington when it comes to home value and inventory stats! King county ended the year with 26,693 sold homes up from 24,393 in 2014, an 8.7% increase. Active listings decreased from 2,758 to 1,764, a 36% decrease! The average home price in King Co. increased from $542,225 to $585,982, a 7.5% increase. So while technically Pierce county outpaced appreciation in King County, King County gained more equity.
Thurston County sold 4,115 homes compared to 3,501 in 2014, a 15% increase. Active listings decreased form 980 to 790, a 19% decrease. Home prices increased from $255,414 to $260,020, a 2% increase. While Thurston county didn’t have a huge run up in prices like Pierce and King counties, bear in mind they didn’t have it during the housing boom either, and they never had the huge crash those counties had during the downturn. They’ve been pretty steady all throughout the past decade.
Did I mention we have LOW INVENTORY!! If you’re thinking about selling, NOW IS THE TIME!! Call me for a no obligation market analysis! 253-222-2626
About the Author:John has been a licensed Real Estate Broker and Realtor in the state of Washington since 2003. He's earned many professional designations such as the Certified Residential Specialist, Graduate of the Realtor Institute and the Accredited Buyers Agent. When John isn't assisting buyers, sellers and investors, you'll find he and his wife flying around the Puget Sound taking full advantage of John's private pilot's license. When they're not flying, they're likely hiking, snowshoeing, really just enjoying all the great northwest has to offer!