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Higher home prices in Pierce and Thurston

According to data released by the Northwest Multiple Listing Service, both Western Washington’s sales prices and number of closed sales are both on the rise. In both Pierce and Thurston counties, these trends are reflected by a 9 percent increase and 6 percent increase respectively. Prices are increasing as fewer homes are being listed for sale while more buyers are entering the market. In May 2013, inventory for Pierce County dropped 20 percent while the inventory in Thurston county dropped 16 percent. Also, King and Snohomish counties have only about a one month’s supply of inventory while Pierce county has just about two months. According to the president and COO of Coldwell Banker Bain in Bellevue, Mike Grady, “For the foreseeable future, buyers will continue to pay more the longer they wait to purchase a home.” Given this information, now may be the time to start looking for a home if you are in the market. Don’t wait too long or you may not be able to find a property available!

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