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Double-digit growth in Pierce County

According to new Northwest Multiple Listing Service data, sales and median prices for homes in Pierce County rose by double-digits in July. Median home sale prices were $220,000, up from $190,000, which reflects a 16 percent increase. Home sales increased to 1,198 units compared to 860 units from July 2012. This equates to home sales rising 40 percent from the previous year. July was the third consecutive month this year in which home sales topped 1,000 units. Home sales are on the rise, most likely due to sellers and developers of new construction, taking advantage of the turn around in the housing market. New listings this year are also up compared to listings from the same time period a year ago. Due to the increase in listings for 2013, pending sales are also up 11 percent this year.

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