September was another sellers’ month for Pierce and Thurston counties, according to Northwest Multiple Listing Service’s September report, released Thursday.
Pierce County’s active home listings are down nearly 10 percent from this time last year, while Thurston County’s is down more than 26 percent.
Inventory in both counties is still tight (Pierce County at 1.61 month’s worth; Thurston County at 1.37). Four to six months’ worth is considered a more balanced market.
The scarce inventory is “like a dog at the door in winter — it refuses to go away till it’s fed,” Dick Beeson, principal managing broker at RE/MAX Professionals in Gig Harbor, said in comments for NWMLS. “More houses for sale, please.”
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The median home price in Pierce County was $318,750, up more than 14 percent from 2016, while Thurston County’s median price was $295,000, up 9.3 percent from last year.
King County’s median home price was $625,00 for September; Kitsap County’s was $314,975.
“The entire region is off the charts,” Mike Grady, president and COO of Coldwell Banker Bain, said in the NWMLS news release, referencing the latest numbers from the Case-Shiller Home Price Index.
The index showed Seattle-area home prices, which include King, Pierce and Snohomish counties, have increased 13.5 percent in the past year. The national average was 5.9 percent.
And, since we’ve reported about some buyers traveling increased distances to find housing, it’s worth noting Mason County’s closed home sales in September were up nearly 30 percent from September 2016.
Median price in that county: $224,500, with 2.8 months’ of inventory available.