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Kimberly Gartland says: Who says the real estate market is improving?

The real estate market is heating up!

Who says the real estate market is improving?

I’m sure you’re read this morning’s news.  The Tacoma News Tribune reports that home sales shot up 27 percent to 700 units last month from 551 units in January 2012.  Surprised?  Not me.  Delight?  You bet! 

As I Realtor I’m always asked what I think is happening in the market.  I’ve been saying that I believe the market is on the upswing.  It’s nice to see the numbers support what my assistant and I are seeing in our office. 

Here’s more data from the Northwest Multiple Listing Service:

Pierce County single-family residence data for January 2013/2012:

 • Sales rose 27.2 percent to 650 units from 511 units.

 • Prices rose 10.1 percent to $196,000 from $178,000.

 • Pending sales rose 19.3 percent to 1,168 units from 979 units.

 • Total single-family residences for sale fell 31 percent to 2,608 units from 3,783 units.

 • New single-family residence listings in January rose to 1,180 units from 957 units.

Pierce County condo data for January 2013/2012:

 • Sales rose to 50 units from 40 units.

 • Median prices fell 0.15 percent to $117,450 from
$117,625.

 • Pending sales rose 9.7 percent to 90 units from 82
units.

 • Total condos for sale fell 233 units from 359
units.

 • New condo listings in January fell to 80 units from
86 units.

As I’ve mentioned before, winter months are a great time to sell so sellers get your homes on the market and buyers get off the fence! 

There are fewer homes to choose from and we’re seeing a steady demand.  Both of these are thought to be stimulating home prices.

Source: Tacoma News Tribune and the Northwest
Multiple Listing Service

www.KimberlyGartland.com

253-405-8020

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

Mark Hoppen February 07, 2013 at 05:53 AM
I hear tell it's a temporary bubble caused by good rates and an existing inventory of unsold homes. Is there evidence of new construction? I know there are large parcels getting prepared, but is there evidence that housing has turned around for the long term?

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