Good news – average appreciation rate across the county is at 9%.
The Seattle real estate ripple effect continues for Tacoma. The latest report from Northwest Multiple Listing Service shows home prices in Pierce County are up 9 percent from September 2018.
King County, on the other hand, saw prices 1.2 percent lower than a year ago. A big contributor driving up prices here is lack of homes going on the market.
Pierce County’s single-family home inventory was nearly 31 percent lower than last year. Kitsap’s was down more than 27 percent. Thurston County saw its inventory of homes for sale nearly 35 percent lower than at the same time a year ago.
“Buyers continue to be drawn to the area thanks to more affordable housing costs, but this influx is also driving up prices,” OB Jacobi, president of Windermere Real Estate, said in NWMLS’ release in regard to Pierce County.
Median closed home sale price for Pierce County was $384,500 for September. Kitsap followed closely at $383,000; Thurston was at $347,850. Read more here.