Pierce, Thurston counties see higher home sale prices in June

Staff writerJuly 3, 2014 

Mortgage Rates

The real estate market in Western Washington continues to improve, data released Thursday show. This photo shows a home for sale in Ohio in March.

TONY DEJAK — AP file

  • PIERCE COUNTY

    Single-family homes and condos, June 2013/2014

    •  Median sale prices rose 5.97 percent from $217,000 to $229,950

    •  Closed sales fell 2.95 percent from 1,118 units to 1,085 units

    •  Inventory, the number of units for sale, rose 18.11 percent from 3,230 units to 3,815 units

    •  New listings rose from 1,572 units to 1,699 units

  • THURSTON COUNTY

    Single-family homes and condos, June 2013/2014

    •  Median sale prices rose 4.89 percent from $225,000 to $236,000

    •  Closed sales rose 4.11 percent from 341 units to 355 units

    •  Inventory, the number of units for sale, rose 16.06 percent from 1,208 units to 1,402 units

    •  New listings rose from 482 units to 593 units

  • KING COUNTY

    Single-family homes and condos, June 2013/2014

    •  Median sale prices rose 7.05 percent from $383,000 to $410,000

    •  Closed sales rose 2.07 percent from 3,046 units to 3,109 units

    •  Inventory, the number of units for sale, rose 6.15 percent from 5,284 units to 5,609 units

    •  New listings rose from 4,138 units to 4,228 units

Western Washington’s real estate market continued its steady improvement in June, data released Thursday show.

Median sale prices for single family homes and condos rose year-over-year between 5 percent and 7 percent in King, Pierce and Thurston counties. Pierce’s median sales price in June was almost $230,000. Thurston’s hit $236,000. At the median sale price, half the homes sold for more than that amount, and half sold for less.

More homes are on the market, too, according to data from the Northwest Multiple Listing Service, with Pierce and Thurston approaching four months’ worth of inventory. A market is considered to be balanced – not weighted in favor of buyers or sellers – if there are 4- to 6-months’ supply of homes for sale.

The Northwest Multiple Listing Service represents 21 counties in Western and Central Washington.

Brokers across Western Washington continue to report increasing activity, both from buyers and sellers, though they acknowledge the pace changes neighborhood by neighborhood. As usual, Seattle is a hotbed of activity.

“Brokers in the Seattle market are keeping busy as multiple offers and cash buyers dominate new, well-prices listings in most markets,” said John Deely of Coldwell Banker Bain, in a news release. Deely says the market for homes priced $1 million and above is experiencing pending sales volume at levels not seen since 2007.

Kathleen Cooper: 253-597-8546

kathleen.cooper@thenewstribune.com @KCooperTNT

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