Good news for residents of Auburn, Fort Lewis and Puyallup! The Pierce County housing market has once again extended its streak which began in October of 2012. Both housing sales and prices rose again according to data released yesterday by Northwest Multiple Listing Service. Sales rose 22.6 percent while the median sale price rose by 13 percent, both compared to April 2012. Sales rose to 916 units last month compared to 747 in April of 2012. The median sale price for April 2013 was $217,000 versus $192,000 for April of last year. There is also a smaller inventory for potential buyers to choose from, with inventory being down 25 percent from the year-ago period. There were 2,835 units available in April compared to the 3,792 last year. While a potential housing “bubble” does not seem to be a concern, the lack of inventory could have the potential to slow the market. If you are in the market for a new home, now may be the time to act before the housing market may not be able to meet the buyers’ demand.
Pierce County sales and prices rise
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Our agents write often to give you the latest insights on owning a home or property in the local area.