As of August 30th, 2022 the median sales price of a single family home in Tacoma is $475,000. This is 8% more than the same period in August 2021 where the median home price was $440,000. As the number of homes have increased this has pushed the time on market for homes for sale in Tacoma from 11 days on the market in August 2021 to 18 days on the market in August 2022. This translates to more breathing room for buyers and the need for more patience from sellers.
Obviously home prices vary quite a bit from neighborhood to neighborhood and across Pierce County. So stick around and we will go into some more detail:
Pierce County Median Home Price – $550,000
The median home price in Pierce County for single family homes is $550,000 as of August 30th 2022. Single family home prices in Pierce County have increased 8% since the same period in August 2021. The number of days single family homes are on the market has nearly DOUBLED from 11 days in August 2021 to 21 days in 2022. For people considering selling their home in Pierce County patience is key- as well as properly photographing and marketing the property.
Tacoma Median Condo Price – $371,000
At first glance at the condo stats things seem really weird. The median price this day in August 2021 was $340,000. So looking at single family home price increases we’d expect condos to be up about 8%. When I ran the search the median home price for Tacoma condos today in August 2022 is actually $667,000. What the heck!? Don’t freak, the data is being skewed by the new condo development over in Point Ruston. If we take out the 17 brand new condos that sold in that Point Ruston building that weren’t around last year- the median price of condos in Tacoma is $371,000, which is up about 9% over last year. The number of days a condo is on the market before it sells in Tacoma increased from 15 days on the market last August to 43 days on the market this August.
Pierce County Median Condo Price – $412,000
Condos in Pierce County are up 21% from $340,000 last August to $412,000 today. Again, the influence of that new Point Ruston condo development is impacting that- adding dozens of fancy brand new condos does bring the median price up. Last year 85 condos sold in August and this year 84 have sold. The days on market for condos in Pierce County increased from 15 days on market to 26 days on market.
If you’d like to see home home prices breakdown neighborhood by neighborhood across Tacoma and Pierce County- check out our clickable neighborhood map and individual neighborhood pages dozens of neighborhoods across Pierce County here.
Source NWMLS: The data in this post compares single family and condo home sales in Tacoma and Pierce County from August 1st-August 30th in 2021 and 2022.
Marguerite Martin is a different kind of Tacoma real estate agent. Check out the Tacoma Neighborhood Guide to find answers to questions you have about neighborhoods in Tacoma and Pierce County. When the time is right to start looking, Marguerite can connect you with a local real estate agent who specializes in the neighborhoods you love most. Click here to contact Marguerite.