Tacoma ranks 5th most competitive housing market in nation
TACOMA, Wash. - While Seattle tends to get all the attention, new data from Redfin ranks Tacoma among the top-five most competitive cities in the nation in terms of its housing market.
The sudden rush on real estate is putting new pressures on both buyers and sellers. For buyers, securing a piece of property in Tacoma these days is becoming an all-out foot race among prospective buyers.
“Usually a listing, if it's priced right and it looks good, will sell the first weekend, sometimes the first day,” said Ellen Campion, a Redfin broker who specializes in Pierce County home sales.
Campion said a lot of the pricing pressure is being driven by the boom in King County.
“We have a lot of folks coming down from Seattle, from the Kent area, from the Auburn area. It’s pretty amazing,” she said.
Right now houses average just nine days on the market with a median selling price of $320,767, according to new data from Redfin looking at market trends in June. Additionally, 52.6 percent of the homes sell for above the listing price.
Those are some encouraging numbers for Ember Carroll, who is now selling her Tacoma residence after seeing its value drop in past years.
“It's kind of cool that it's bounced back and it feels like it was a great investment,” Carroll said.
Of course, buyers may see it differently, especially since housing inventory is down 16 percent from this same time last year.
Campion said the key is to come prepared because there are still deals to be had.