Pierce County sees another intense month of home sales in July

Pierce County sees another intense month of home sales in July
Home sales continued to outpace new listings in Pierce County in July. (Drew Perine, staff file)

PIERCE COUNTY, Wash. — Available homes for sale in Pierce County continue to be in short supply.

According to July data released Thursday by the Northwest Multiple Listing Service, Pierce County is one of four that saw the most active July in pending sales.

Eight counties in the report, including Pierce and Thurston, had less than one month’s supply of homes and condominiums for sale at the end of the month. Others were Clark, Cowlitz, Island, Kitsap, Mason, and Snohomish counties.

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Fueling the sales, according to representatives quoted in the report, in addition to low interest rates, was s a mix of people buying outside of more densely populated metros and a rise in those working from home, adding a different dimension to where workers can live in relation to their work.

Year over year, pending sales of existing single-family homes and condos were up for Pierce County by 9.79 percent, while listings in that same combined category were down nearly 39 percent.

Listings for single-family homes were down 42.75 percent from the same period last year.

The median closed sale price for single-family homes in the county in July was $425,000, up 13.33 percent from a year ago and up from $410,000 in June.

In a July recap from John L. Scott Real Estate, 84 percent to nearly 85 percent of homes priced between $250,000 and $500,000 had sales pending within 30 days.

“These conditions create higher intensity for each new listing, making it feel like ‘multiple-offer everything’ in the local market,” said J. Lennox Scott in the report.