pierce county CONDO - OCTOBER 2 0 2 4
MONTHS OF INVENTORY 2.7 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 20% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 6% VS 2023
▲ 29% VS 2023
▲ 23% VS 2023
▼ 11% VS 2023
There were 103 condo listings in Pierce County in October, 7% above September and 29% higher than October 2023. October condo sales increased by 58% month-over-month, to 38, and were 23% above October 2023. The months of inventory for condos in Pierce County, at 2.7, reflected a sellers' market. The condo median price in October was $385,000, a 13% decrease from September and 11% below October 2023. The average sold price was $463,154, 12% below last month; the average PSF sale price was $395, down 16% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$395 $463,154 $385,000 2.7 38 103
31 80
20% 6% -11% 5% 23% 29%
24 96
-16% -12% -13% -32% 58% 7%
$330 $436,137 $432,500 2.6
$469 $524,327 $443,500 4.0
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
107
63
103
88
87
57
96
96
76
80
69
77
76
72
60 37
45
40
38
38
37
31
31
24
34
29
24
24
22
$472K
$444K
$439K
$433K
$425K
$425K
$412K
$410K
$400K
$400K
$385K
$375K
$349K
Oct-23
Sep-24
Oct-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.
80
12.0
1
70
4+ bdrms
60
50
4
3 bdrms
15
40
30
3.0
24
2.4
2 bdrms
20
1.5
67
1.0
10
0
9
<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 1 12 12.0 2 2 1.0 2 3 1.5 0 4 n/a 1 3 3.0 0 1 n/a 32 78 2.4
21
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 November 12, 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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