What Buyers Need to Know About the $1 Million+ Real Estate Market in Pierce County
April 24, 2017
If you’ve been keeping up on the news lately, then you’ve probably heard that the real estate market in the Puget Sound region is absolutely on fire! Pierce County is no different—with low inventory and many homes receiving multiple offers and inspiring bidding wars these days, there’s a lot to keep up with, especially if you’re in the market to buy a home.
For those with their eye on homes in the $1 million+ market, Windermere Professional Partners Co-Owner Kevin Mullin has some useful stats to share:
“In 2016, there were a total of 77 homes sold in Pierce County with a listing price over $1 million. Currently, there are 27 homes over $1 million that are pending, and that’s impressive! That’s in addition to the fact that 16 of these homes have already sold this year,” elaborated Kevin.
Why does that matter? “If all properties currently under contract sell, that would mean 43 sales year to date, which is already more than half of last year. We are not even halfway through the year yet,” says Kevin.