The Pierce County housing market sold more homes in March, but it still didn't match last year's March totals as sales dipped nearly 2 percent, according to Northwest Multiple Listing Service data released Thursday
Still, 227 more homes sold in March than in February and prices remain elevated, the combined single-family residence and condo data show.
Sales fell 1.82 percent to 919 units last month from 936 units in March 2013, the combined data show, while median prices were more encouraging, rising 11.5 percent to $222,950 last month from $200,000 a year ago.
Although the number of homes for sale is on the rise — inventory rose 15 percent to 3,200 units last month — it also remains tight because Pierce County has less than a four-month supply of homes on the market, the combined data show.
But the market is not as tight as in King County where there's less than a two-month supply of homes on the market. That is helping to keep prices elevated — they rose 8 percent in the year-over-year March period — but sales fell 3 percent, likely because not every prospective buyer can find the home they want.
Still, more than 2,200 homes sold in King County in March, the combined data show.
Other Pierce County data:
-New listings in March rose to 1,568 units from 1,411 units.
-Pending sales fell 5.22 percent to 1,563 units from 1,649 units.
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Pierce County single-family residence data for March 2014/2013
-Sales fell 2.6 percent to 855 units from 878 units.
-Prices rose 13.3 percent to $230,000 from $203,000
-Pending sales fell 5.8 percent to 1,463 units from 1,554 units
-Number of single-family residences for sale rose 16.3 percent to 2,948 units from 2,533 units.
-New listings in March rose to 1,477 units from 1,326 units
Pierce County condo data for March 2014/2013
-Sales rose 10.3 percent to 64 units from 58 units.
-Median prices fell 1.64 percent to $135,000 from $137,250.
-Pending sales rose 5.2 percent to 100 units from 95 units.
-Number of condos for sale rose 8.1 percent to 252 units from 233 units.
-New listings in March rose to 91 units from 85 units.
Source: Northwest Multiple Listing Service data