The Pierce County housing market ended the year on a sour note as median home prices once again fell by a double-digit margin in the year-over-year December period, according to data released today by the Northwest Multiple Listing Service.
That's good news for the prospective home buyer in search of a deal, but tough on the home seller trying to sell as values continue to plummet.
Median home prices fell 18.68 percent to $175,199 last month from $215,450 in December 2010, the combined single-family residence and condominium data show. Pierce County has one of the lowest median prices in the region at $175,199. In December, King County median prices finished the year at $291,000; Kitsap County at $228,000; and Thurston County at $212,000.
Lower median prices, however, likely have helped to stimulate Pierce County home sales, which rose 12.84 percent to 791 units from 701 units, the combined data show. Other data: Pending sales rose 21.45 percent to 923 units from 760 units; the total number of homes for sale fell 16.37 percent to 4,280 units from 5,118 units; new listings in December fell to 846 units from 1,035 units.
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