Million Dollar August 10, 2017 Update

Million Dollar August 10, 2017 Update

Hello!  I apologize for my delay in getting an Pierce County, Washington update prepared before now.  Being busy isn’t an excuse.  It’s a reality.  Actually, I’ve attempted several topics but felt uninspired to finish any of them.  The best one involved warships burning in Henderson Bay.  One day I will definitely get that finished.  More research seemed a necessity.    

As to my topic today, it’s a Million Dollar Home Update.  But before I get into the specifics, let me clarify one notion I had expressed in a previous post where I speculated that, due to the number of unsold active listings priced over One Million Dollars, it was a buyers’ market rather than the seller’s market. 

What I failed to mention is every luxury home is essentially unique.  As such, depending on the preferences of the folks seeking such a property, finding two home with similar features, styles and amenities is difficult if not impossible.  One could have an exceptional view while another might have acreage.  One could have sound waterfront while another could be a lakefront home.  One could even be in a country club community or a dilapidated home on an exceptional lot allowing the potential to build a brand new home.  The possibilities are endless. 

How deep in your pocketbook? might be a better determinant of exactly which Million Dollar Home would suite you. 

As to our update this evening, there are currently 147 Million Dollar homes available for sale in our community; just Pierce County, Washington.  Of those, the average size is 4,874 square feet of living area, an average cost per square foot of $391.91 and a total average price is $1,653,442. 

Homes recently sold and listed in a pending inspection status total four.  The average cost per square foot is $482.97, average size of 3,629 square feet and an average list price of $1,287,250.  The medium list price is $1,299,500.

As to the sales, 63 have closed in the past 180 days.  Size = 4,728 square feet; $287.94 per square foot and an average sale price of $1,301,464, 5.4% less than the average list price at the time the sales contract was first accepted by the seller and the buyer.           

With prices continuing to skyrocket to communities to the north, the possibility of finding a more affordable luxury home here in our Pierce County certainly exists.  And with commuting options ever increasing and improving, more and more families are finding their home here.   

With all of that being said, it’s time to get moving.  May each of you have a most Blessed Day where all of your hopes and dreams come true; each and every day.