Real Estate News

Pierce, Kitsap at same median price point for December closed home sales

If you’re looking to buy a home in Pierce or Kitsap counties, you might be interested to know the median closed sale price was at the same price point in both counties for December: $344,000.

That’s according to the latest data released Monday from Northwest Multiple Listing Service.

The amount is up for Kitsap’s median and down slightly for Pierce’s from the previous month, and up for both counties from the previous year — 7.53 percent for Pierce and 9.21 percent for Kitsap.

The median for homes in King County in December was $639,000, up less than 1 percent from a year ago. Contrast that with Thurston County’s median closed home sale price for December: $320,500, up 12.46 percent from December 2017.

Inventory was less than two months in King, Pierce, Kitsap, Snohomish and Thurston counties, with Kitsap being the lowest at 1.48 months’ worth of supply.

King County’s median closed sale price for condos in December was $404,625, with Pierce at $258,225, Kitsap at $242,250 and Thurston at $241,750.

According to NWMLS’ residential/condo sales overview: “A year-over-year comparison of the number of new listings, pending sales and closed sales show drops overall, while prices rose from the same month a year ago.”

A first look at year-end results also showed an overall market shift.

NWMLS Realtors saw about a 6.8 percent drop in 2018 for closed sales compared with 2017, according to Monday’s release. A full analysis will be released later this month.

Dick Beeson, principal managing broker, RE/MAX professionals, Gig Harbor, said sellers should take the changing market in stride.

“Sellers who recognize a market shift has occurred will price their homes accordingly and sell in a reasonable amount of time, 30 days or less — not one day,” Beeson said.

December median closed home sale prices, followed by November numbers, for areas of Pierce County:

Gig Harbor/Key Peninsula: $512,500 ($485,300)

North Tacoma: $412,500 ($420,500)

University Place/Fircrest: $406,420 ($383,750)

Puyallup: $354,000 ($349,950)

Lakewood: $288,000 ($304,000)

Central Tacoma: $302,500 ($305,000)

South Tacoma: $270,500 ($260,000)