Washington Home Prices still HIGHER Pre-Pandemic!

Market Update - January 2023

Key Takeaways from this month’s market update

⚡️ The number of available homes decreased from over 1,800 in November to over 1,500 in December⁠

⚡️ The number of homes sold decreased from over 800 in November to over 650 in December⁠

⚡️ The average price per sqft decreased from $288 in November to $273 in December⁠

⚡️ The average amount of days a home has lasted on the market until sold (or taken off) has significantly increased from 37 days to 47 days⁠

💡 This all illustrates that competition for available homes has decreased overall for home buyers in Pierce County, Washington

Homes For Sale VS Homes Sold

Average Price Per SQFT

Sold Price Percentage Of Original Listing Price

Average Days On Market

Months Of Inventory

For home sellers, who feel discouraged in selling their home in Northwest Washington, there’s still a lot of great opportunity for you too.

While it is true that homes won’t sell for as much as they could earlier last summer, it is important to point out that from November 2021 to November 2022 home prices increased year-over-year to 8.6%

So if you’re at least thinking about selling in the near future, right now might be the best time to talk with an agent and begin making a game plan, because you still may have a great opportunity for positive equity!

Looking to get a market report in a specific city in Pierce County? We do market reports for Puyallup, Bonney Lake, Lake Tapps, Sumner, and Tacoma.