Million Dollar Five Day Update

Million Dollar Five Day Update

Good morning.  It’s already Tuesday.  Tuesday’s always come early.  It’s one of the few days when we rely on an alarm clock.  But today, the alarm wasn’t necessary.  Kathleen, my wife of just short of 44 years, couldn’t sleep and got up at 3 am.  She has meetings in her office every Tuesday starting at 6:30 am. 

Most of the time I’m up too.  Tuesday is also my office meeting at Windermere Professional Partners held at Cheney Stadium, home of the Tacoma Rainiers Baseball Team.  Getting going early is important so I’m up and out of the house and ready to roll. 

Checking statistics for Million Dollar home sales last evening for the previous five days in Pierce County, Washington State, it showed there were 146 unsold properties which, accumulatively, had been on the market an average of 167 days per home.  I believe I’ve mentioned before but, with that number of available homes, it’s as much of a buyer’s market as we’ve seen in a while.  At least for Million Dollar properties or estates.

More specifically, in the prior five days there were two new listings.  One in the North end of Tacoma with a view and the other a waterfront home in Gig Harbor.  There were also two listings which reported recent sales and were listed as having a sale pending on inspection.  Of those, one was in the Tacoma County Club on American Lake in Lakewood and the other was in Gig Harbor. 

As to the closed sales, there were three reported.  One was a view property in a gated privacy site with incredible soaring ceilings.  Much like what you would find in a lodge in Glacier Park.  It was originally listed May 1, 2017 at $1.195 Million and had a sale close July 13, 2017 at $1.095 Million.  Interestingly, it had also been on the market for nearly five months in 2016 where it had been listed at $1.2 Million.

The second sale involved a waterfront home on Bonney Lake in northeastern Pierce County.  It also had been on the market in 2016 at $1.35 Million but was later reduced to $1,249,950.  Remaining unsold, the listing expired in August of 2016 and was relisted in June of 2017.  A sale closed at $1.28 Million July 13, 2017.  It would almost seem a prospect had been waiting for the property to come back on the market. 

And finally, the third sale involved a newer waterfront home in Gig Harbor.  As with the first two, it had been listed in 2016, first coming on the market at $1.75 Million but later in 2016 it was reduced to $1.675 Million.  Remaining unsold, it came back on the market in March of this year at $1.595 Million and a sale at $1.33 Million was reported July 14, 2017.   

Being so close to King County where prices have skyrocketed, the opportunity to own a luxury home at a more affordable price certainly exists in Pierce County.  And with the homes noted above, one can see, the possibility to negotiate is possible.

With that said, I must get moving so I will be ready for my morning meeting.  May each of you have a most Blessed Day where all of your dreams come true.