Northwest Multiple Listing Service data released a report showing that South Sound real estate group has been recovering from August's cool down in the housing market.
According to thenewstribune.com, single- family residences sales rose last September with a double digit margin. The median prices also rose with 10.3 percent in Pierce County and 7.5 percent in Thurston County compared to median prices of last year's September. Home sales last September acted as the catalyst in the rising housing market in the area. Homes in Pierce County and Thurston County are being sold in less than 3 months with 2.4 month and 2.7 months, respectively.
Francine Viola, a longtime broker with Coldwell Banker Evergreen Olympic Realty in Olympia, said "Given the limited supply of homes on the market, buyers need to be decisive, write competitive offers and be prequalified by a lender to purchase. But that's not to say that sellers can sit back and wait for the offers to roll in. They still need to price their residence correctly and be prepared to negotiate."
Also, house units for sale in King County are usually sold within 1.44 months last September.
The report also detailed the number of units sold in Pierce County and Thurston County.
"▪ Pierce County: Single-family residence sales rose 19 percent to 1,227 units from 1,030 units in September 2014. The median price rose 10.3 percent to $252,500 from $229,000 in the same period a year ago.
▪ Thurston County: Single-family residence sales rose 14.8 percent to 395 units from 344 units in September 2014. The median price rose 7.5 percent to $253,900 from $236,250 in the same period a year ago."
The olympian.com has also released a report detailing the median prices in the area as well as the number of condos sold in Pierce County and Thurston County.
"Pierce County condo data for September 2015/2014
Sales: Fell 14 percent to 57 units from 66 units.
Median price: Rose 9 percent to $158,000 from $145,000.
Pending sales: Rose 18.8 percent to 95 units from 80 units.
Number of condos for sale: Fell 25 percent to 191 units from 255 units.
New condo listings in September: Fell to 76 units from 88 units.
Thurston County condo data for September 2015/2014
Sales: Fell to nine units from 10 units.
Median price: Rose 55 percent to $170,000 from $109,652.
Pending sales: Fell to 12 units from 15 units.
Number of condos for sale: Fell 28 units from 51 units.
New condo listings in September: Fell to four units from 11 units."
What can you say about South Sound's recovery? Share it in the comments!
