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How much more house does your money get you in Pierce, Thurston counties?

Four houses in Tacoma for the price of one in Bellevue? That’s the latest number crunching from real estate website Estately.
Four houses in Tacoma for the price of one in Bellevue? That’s the latest number crunching from real estate website Estately. Staff file, 2013

In the past year, our hot housing market has produced some head-turning numbers.

Real estate website Estately reviewed sales data from July 1, 2016, to June 30, 2017, for the most-populated cities in Western Washington and determined the median sale price for houses based on the number of bedrooms.

The numbers offered these tidbits:

HOMES

▪ Why settle for just one house when you can have four?

You could have bought four, two-bedroom houses in Tacoma or Lakewood for the price of a two-bedroom home in Bellevue. (roughly $181,000 vs. $784,940.)

Apartment rental listings site Zumper also revealed recently that Lakewood was the cheapest city along the Interstate 5 corridor to Seattle for one-bedroom apartments with Bellevue the most expensive for the same-sized units.

▪ Live small in Seattle, or large most anywhere else in the state.

Over the past year, the median price for a one-bedroom house in Seattle was $426,000.

That could have bought you a median-priced, four-plus-bedroom house in Tacoma, Olympia, Lakewood, Puyallup, Kent, Federal Way or Lacey, among other places.

For comparison, Tacoma’s median one-bedroom home price was $136,000.

 

CONDOS

▪ Get two (or even three) condos for the price of one.

Similar to the above example for homes, you could buy a pair of two-bedroom condominiums in Tacoma for the median price of one in Seattle. In Lacey, you could buy three for the price of one in Seattle, according to Estately’s numbers.

▪ Lakewood had the cheapest median price on two-bedroom condos among the cities surveyed — $122,620 median price.

Bremerton was next lowest at $138,000, followed by Lacey at $141,000. Federal Way and Olympia were nearly tied at $152,000 and $151,000, respectively.

For those still not giving up on the Seattle dream, one-bedroom condos were going for a median price of $379,500 in the time Estately surveyed.

Company CEO Galen Ward has his own take on the results:

“For the price of a one-bedroom condo in Seattle, a person could start their own mini real estate empire in Tacoma or Bremerton.”

 

Debbie Cockrell: 253-597-8364, @Debbie_Cockrell

This story was originally published August 1, 2017 at 7:00 AM with the headline "How much more house does your money get you in Pierce, Thurston counties?."

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