A Brief Market Update – Pierce County Real Estate
It is Spring and with spring we are finding ourselves in a bit of an inventory shortage in Pierce County. What does that mean? It means that there are buyers out there that want to buy your home! Home prices are rising slowly, but the inventory shortage is keeping the prices from shooting up as summer approaches. Even still you can expect that home prices will continue to climb.
In addition to the usual summer real estate season approaching there are other factors that are contributing to the rise in home prices. Investors are one. Investors have been buying up some of the inventory in South King and Pierce County resulting in higher prices and shorter days on the market. Jobs are the other major factor in the region. Job growth is happening, while there is still more jobs needed to get the lenders lending the real estate market is starting to feel the results of more people working.
The positive side to the inventory shortage is that current homeowners who are looking to buy can feel confident that they can make an offer on a new home before they sell their current home. There is likely more than one qualified buyer ready to buy your home once it is on the market. Contact me if you are interested in knowing what your home is worth!