Pierce County’s housing market continues its recent hot streak, as July sales and median sales prices rose 39 percent to 1,198 units last month from 860 units in the same month in 2012. The median sales prices increased 14 percent to approximately $22o,ooo from approximately $193,000 in July 2012. Given this continued marked improvement in the local real estate market, local realtors have been encouraged to contact clients who had decided to hold off on selling homes a year ago to ensure they knew how much the market has changed. Conversely, buyers are being encouraged to purchase before they are priced out of their desired markets and product type. Sales prices have benefited from decreasing inventory caused by the uptick in sale volumes. According to Corelogic, a provider of real estate data, the year over year home prices for the month of July increased in 48 of 50 states, falling only in Mississippi and Delaware.
Pierce County’s hot streak
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