As of this morning, the medium list price of the unsold residential inventory, 7,210 single family homes, in Pierce County was $313,950. The unsold residential inventory includes active listings, listings which have offers pending inspections (STI), listings with contingent offers and pending sales. However, the medium list price of single family homes closed in the past 31 days is $275,000. Interestingly the medium sale price of single family homes closed in the same period is also $275,000.
These statistics are significant in that they indicate that the homes sales occurring reflect more the willingness of sellers to bring their pricing to the market than buyers making low-ball offers. In other words, sellers interesting in selling are reducing their asking price and making their property more appealing. Now this certainly doesn’t mean that buyers aren’t making low-ball offers; it simply means that the impact of such below average offers isn’t being reflected in the data.
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