Pierce County median home prices continued to fall in October, down more than 16 percent in the year-over-year period, according to Northwest Multiple Listing Service data released today.
The 16.26 percent decline in median prices between October and October 2010, left the median price of a home here at $180,000, one of the lowest median prices in the region, the combined single-family residence and condominium data show. It also was the sixth consecutive month in which median prices have fallen by more than double digits on a year-over-year basis.
Although median prices continue to fall, lower prices appear to be stimulating sales, the combined data show. Sales rose 12.15 percent to 757 units last month from 675 units in the year-ago period.
Also in the year-over-year October period: pending sales rose 15.14 percent to 1,103 units from 958 units; the total number of homes for sale fell 14.54 percent to 5,059 units from 5,920 units; and new listings fell to 1,206 units from 1,312 units, the combined data show.
Thurston County home sales, meanwhile, finally ended a streak of flat results. Sales rose nearly 7 percent to 245 units from 229 units, according to the combined data. Median prices fell 6.25 percent to $210,000 and pending sales fell 5.37 percent to 282 units. The total number of homes for sale also fell 7.18 percent to 1,628 units and new listings in October fell to 297 units from 360 units.
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