pierce county CONDO - JULY 2 0 2 4
MONTHS OF INVENTORY 2.1 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 1.2% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 14% VS 2023
▲ 8% VS 2023
▲ 29% VS 2023
▲ 45% VS 2023
There were 94 condo listings in Pierce County in July, 9% above June and 29% higher than July 2023.
July condo sales increased by 55% month-over-month, to 45, and were 45% above July 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in Pierce County, at 2.1, reflected a sellers' market.
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
45 94
31 73
45% 29%
29 86
-1.6% -16% -10% -30% 55% 9%
The condo median price in July was $425,000, a 10% decrease from June and 8% above July 2023. The average sold price was $514,008, 16% below last month; the average PSF sale price was $392, down 1.6% to last month.
$392 $514,008 $425,000 2.1
$397 $449,353 $394,950 2.4
-1.2% 14% 8% -11%
$399 $610,521 $472,000 3.0
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
56
94
88
86
54
76
74
80
68
73
77
75
46
72
63
60 37
45
38
37
36
31
31
31
24
32
29
24
22
$472K
$439K
$433K
$425K
$425K
$413K
$410K
$400K
$400K
$395K
$383K
$375K
$349K
Jul-23
Jun-24
Jul-24
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET <4
BALANCED 4 - 6
BUYERS' MARKET 6+
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● MONTHS OF INV.
70
6.0
4+ bdrms
60
50
13
40
3 bdrms
2.8
8
30
1.9
1.5
29
20
2 bdrms
63
10
0
3
<2 bdrms
<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+ MOI INVENTORY SALES
23
36 68 1.9
5 14 2.8
1 6 6.0
0 2 n/a
2 3 1.5
1 0 n/a
0 1 n/a
Information and statistics derived from Northwest Multiple Listing Service. Copyright © 2024 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of August 6, 2024. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 58 ●
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