Million Dollar Stats – Pierce County Washington

Once again, your host is Ken Thiemann and I’m a Realtor with Windermere Professional Partners.  My contact number is (253) 370-5626 and my email is kthiem@msn.com.  While many of my contemporaries insist prospective sellers and their agents have to provide videos and elaborate pictures of the homes they are attempting to sell in order to attract potential buyers.  But I believe well-structured words can also form pictures equally as well.  But I’ll let you be the judge. 

My intent here is review homes which exceed one million dollars.  It’s not that I’m necessarily attracted to or in want for such a home, I enjoy representing higher end buyers.  Not totally true.  Actually I enjoy working with all types of buyers and sellers.  Especially those who seek my assistance and trust my efforts. 

Then you might ask, why million dollar homes?  First of all, people are generally fascinated with expensive homes.  Over the weekend I was watching a random show called “Million Dollar Listings New York.”  Secondly, with all the pictures and videos you can watch, it seemed like a perfect place to land and create pictures and scenarios with my words.  Something can look perfect but what sense do you gain when you own it?  Do you have the same furnishings?  What about decorations? 

How about those stats you mentioned?  Oh yes, very true.  Thanks for getting me back on topic.

As of this morning, Million Dollar Home listings, contingent, pending and closed sales statistics for the past 30 days in Pierce County, Washington are as follows: 

In the past 30 days, there were 12 closed sale.  One in an established gated community with a pro-style golf course called Canterwood, six waterfront properties and five view homes; four in Gig Harbor and one in North Tacoma. 

Of the view properties, two are modernistic in character with “exquisite features,” and were built in 2016.  They are also located in a new gated community but feature “stunning” sound views.  Except, both properties were on the market for over a year and sold for less than their original list price.  On average, the twelve were on the market just under a year and a single home was sold the first day on the market.      

In fact only one of the twelve sold at the original list price.  Of course, there are those properties so attractive and appealing where they attract multiple offers.  But that’s probably more the case in King County to the north.  If you’re able to commute and you’re a million dollar candidate, you can certainly get more for your dollar in Pierce County.  On average the homes had 4,481 square feet of living area with a average cost of $330.99.

Commuting options include the Sounders bus with regular schedules to a variety of points to the north.  In fact, my daughter works for the University of Washington and, when visiting here in Tacoma, she is able to catch a bus which only goes to the UW.  There’s also the Sounder’s Train.  Along with the opportunities available, there’s lots of commuting options.   

As to the other homes, there are 141 active listings with an average living area of 4,554 square feet and cost per square foot of $396.97.  The most expensive home is listed at $6.9 Million and the least expensive is listed at $1 Million even.  The medium is priced at $1,388,000.

There are two homes priced at $1,035,000 and $1,925,000 with contingent offers.  Both have been on the market for just over 100 days and the average listing area is 4,454 square feet; $327.63 per square foot.

Five homes have accepted offers pending satisfaction of a home inspection.  Most offers are contingent on a home inspection.  Essentially that means the buyer has an opportunity to review the condition of a property prior to proceeding with their purchase.  Of those five, the least expansive home is at $1,099,000 and the most expensive is $1.75 Million.  With an average finished living area of 3,366 square feet, the cost per square foot balloons to $520.41.

Where the home inspection has been satisfied and the seller / buyer have agreed to move forward to closing, six properties fall into the pending category.  But, with over 4,900 square feet on average of living area, the average cost per square foot is $284.36.

Another area of comparison is listing in a pending a backup offer and a pending feasibility status.  While difficult to say why a backup is being requested, there are two of those and one in a pending feasibility category.  Feasibility issues can arise from a number of concerns; like, hoping to use the property for a use different from a single family home.  Another possibility is the new owners want to build a dock. 

Hopefully you have found this interesting.  Yes, I’m trying something a bit different but I’d love to hear from you.  Positive or negative comments are welcome.  Most important though is that you enjoy your day.  Blessings to you and yours.