Windermere Professional Partners

North Tacoma Real Estate Recap 2012

testing December 11, 2012

North Tacoma Real Estate Agents are happy to see the bottom is behind us. North Tacoma Real Estate has been continuing its slow recovery. Last November the average price for homes sold was $170,000, this year we are up to $195,000. Looking at the chart above, you can see how just in the past year, the number of pending sales (homes that are under contract) has been steadily increasing, while the number of homes on the market is continuing to fall.

What this means for buyers is that there are fewer homes on the market to view. What it means for sellers is that if you have a good home that is priced correctly for its location and condition it should sell fairly quickly. In the past year 440 homes have sold in the North Tacoma area. Of those 113 were bank owned homes and 81 were short sales. There are currently 116 homes on the market, of those only 13 are bank owned and 44 are short sales. What this means for buyers is that when you’re looking at homes for sale in North Tacoma 1 in 3 of the homes you look at will be short sales, which may require more patience than fair market sales.

If you are interested in finding a home for sale in North Tacoma or would like to find out what your North Tacoma home is worth contact us!