pierce county CONDO - NOVEMBER 2 0 2 4
MONTHS OF INVENTORY 6.4 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 11% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 22% VS 2023
▲ 8% VS 2023
▲ 24% VS 2023
▼ 29% VS 2023
There were 109 condo listings in Pierce County in November, 6% above October and 24% higher than November 2023. November condo sales decreased by 55% month-over-month, to 17, and were 29% below November 2023. The months of inventory for condos in Pierce County, at 6.4, reflected a buyers' market. The condo median price in November was $430,000, a 12% increase from October and 8% above November 2023. The average sold price was $514,729, 11% above last month; the average PSF sale price was $422, up 7% 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
$422 $514,729 $430,000 6.4 17 109
24 88
11% 22% 8% 75% -29% 24%
$395 $463,154 $385,000 2.7 38 103
7% 11% 12% 137% -55% 6%
$379 $420,885 $400,000 3.7
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
103
63
109
107
87
57
96
96
88
76
69
77
76
72
44
60 37
45
38
38
37
31
24
34
24
29
24
22
17
$472K
$444K
$439K
$430K
$425K
$425K
$412K
$410K
$400K
$400K
$385K
$375K
$349K
Nov-23
Oct-24
Nov-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.
11.0
80
4+ bdrms
60
6.6
4
3 bdrms
16
40
3.0
12
2 bdrms
20
73
1.0
0
1
<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 11 11.0 2 2 1.0 1 3 3.0 0 3 n/a 0 3 n/a 0 1 n/a 13 86 6.6
20
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 December 9, 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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