Key Market Indicators – September Recap 2020
Pierce County Housing Update - Resale Only
We continue to be virtually sold out in Pierce County. Additionally, the past three months set individual monthly records for the number of homes going under contract in central Puget Sound as well as an all-time high for the median home price in Pierce County. There is an extreme shortage of homes priced up to $750,000 in Pierce County. Sales activity intensity ranges from frenzy to extreme frenzy in this range, where 93 percent of sales activity occurs.
There has also been a record-setting number of luxury properties going under contract. In the luxury price range of $1-2 million, sales activity intensity varies from strong to very strong, and unsold inventory ranges from shortage to low. Buyer activity is selective above $2 million.
Hitting Records Left and Right
Average % of
New Listings (Pending)
in the First 30 Days
Unbelievable Interest Rates
Source: Mortgage News Daily
THE REAL ESTATE MARKET IS IN ROTATION
COVID-19 has made many reflect on what their home means to them. As a result, many people are looking to create that ideal place to call home - whether that means refinancing, remodeling, or moving.
This reflection, along with historically low interest rates, have opened up possibilities for those looking to move within their local market or find a new home elsewhere with their family, friends and lifestyle in center view.
No matter what you’re looking for in a home, a trusted real estate professional can help you along the way.
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