Blogs By Brian

Single Family Residential Resales - Pierce County, WA - May 2008

May 2008 statistics reveal a sluggish real estate market in Pierce County. In single family residential resales there were only 741 closed sales as compared with 1,069 in 2007, a drop of 31% year to year. The median home sale price dropped from $270,000 to $254,000 in 2008 for a drop of 6%.

Orting was the only city with a minimum of 10 closed sales in '07 and '08 to show improvement in May '08 over May '07. Orting sales were up 32%, however the median sales price dropped 15% in May.

Tacoma showed the highest drop in May 2008 with 38% fewer closed sales. The median sales price dropped 9%.

Here are some other Pierce County cities of interest (minimum 10 closed sales in May '07 and May '08);

City                       Closed Sales % Change             Median Sales % Change

Bonney Lake                  -11%                                                  -17%

Dupont                            -5%                                                     -8%

Gig Harbor                     -36%                                                    0%

Graham                           -27%                                                   + 1%

Lakewood                      -31%                                                    0%

Orting                             +32%                                                   -15%

Puyallup                         -21%                                                    -6%

Spanaway                      -21%                                                   -5%

Sumner                          0%                                                        -27%

Tacoma                           -38%                                                   -9%

University Place          -32%                                                    +16%

PIERCE COUNTY           -31%                                                  -6%