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Why is Tacoma a Top 10 Housing Market to Watch in 2016
Tacoma recently ranked as number 10 on Trulia’s top 10 housing markets to watch in 2016, a list that also included cities like Grand Rapids, MI, Charleston, SC and Austin, TX (see the full report here). Trulia’s rankings were based on a number of different criteria including strong job growth, low vacancy rates and high affordability. I think high affordability was probably key to Tacoma’s inclusion on the list. Though some of our buyer clients that are new to the Tacoma housing market have commented that prices here are high compared to where they’re coming from, the Tacoma housing market clearly remains a great value proposition when compared to Seattle where the median home price is more than twice as high. As the tech industry continues to grow in Seattle, Tacoma will continue to represent a very attractive alternative to call home. Not surprisingly, we’re seeing more and more folks from Seattle making the move to T-Town. I think it’s that demand in particular that led to our inclusion on Trulia’s list of hot market’s to watch in the coming year. To be clear though, Tacoma’s appeal isn’t just about being within commuting distance of Seattle. For those of us lucky enough to live and work in Tacoma, it actually represents a preferable alternative. A vibrant, livable small city with a big metropolitan hub nearby to visit when the mood strikes.
Mark Pinto is a top-producing Realtor with Windermere in Tacoma specializing in the purchase and sale of historic and luxury homes. Click here to e-mail Mark or feel free to give him a call at (253) 318-0923.
Census Data Suggests a Shift from King to Pierce County
According to an article in the Seattle Times, Gene Balk examined recent census data surrounding an emerging trend that points to a shift from King County to more affordable Pierce county.
Gene notes, "It's no secret that newcomers are pouring into King County from around the country and the globe. In fact, we broke a record in 2014 for the number of new arrivals from out of the state, which I wrote about in my last column. But could we also be witnessing the emergence of a countertrend – that of a growing number of folks fleeing pricey King County and heading south to Pierce? New data on U.S. counties, released by the Census Bureau on Thursday, hints that this may be the case." Click here to read Gene's full article.
The reporter's observations certainly support what we as Realtors are seeing here in North Tacoma on a routine basis. Many of our new buyers are people moving to Tacoma from the Seattle area, and our last four North End listings have sold to folks from Seattle. So… what does this trend mean? Well, we're currently seeing an upsurge in prices and a significantly low level of home inventory in North Tacoma. (you can review those trends here). Thats good news if you currently own a home here, but not such good news if you're in the market to buy this spring.
Jeff Williams is a top-producing Realtor with Windermere in Tacoma specializing in the purchase and sale of historic and luxury homes. Click here to email Jeff or give him a call at 253-303-1135.
The Vintage Y – Home in Tacoma’s Theater District
One of the things I love most about selling real estate in downtown Tacoma is introducing clients to the different condominium buildings there – some shiny and new and others tastefully restored. The Vintage Y at 714 Market Street falls into the tastefully restored category. Listed on the National Register of Historic Places, the building was designed by prominent local architect George Bullard and built in 1909 to house the Tacoma chapter of the YMCA. As one of the first chapters in the Pacific Northwest, the Y provided its members with athletic facilities and a robust vocational education program. The YMCA vacated the building on Market Street in 1977, and it was ultimately converted into luxury condominiums dubbed the Vintage Y in 2005. Building amenities include a secure lobby and parking garage, a roof-top deck with barbecue, an outdoor patio, a fitness room and a guest suite.
The Vintage Y is located in the heart of Tacoma's historic theater district. Nearby venues include the Pantages, the Rialto, Theater on the Square and the Tacoma Armory (all managed by the Broadway Center for the Performing Arts) Upcoming Broadway Center events include the Heritage Blues Orchestra at the Rialto, Spectrum Dance Theater at the Armory and The Capitol Steps at the Pantages. The theater district is also home to the Grand Cinema, which offers an excellent selection of first run independent films. Corina Bakery conveniently located next to the Grand on Fawcett, is great for a quick bite before or after the movies. Deanna Bender’s Over the Moon Café on Opera Alley is one of my favorites for a casual lunch or special dinner. The service is great, the décor is eclectic and the food’s delicious. When I’m in the market for some new household furnishings, I like Giraffe and Dwelling, both on St. Helens.
Another great thing about the Vintage Y is its proximity to 27-acre Wright Park – a jewel of a green space that includes an arboretum, a playground, a running path and a pond complete with a bridge and waterside benches. If you haven’t checked out the Vintage Y, the Theater District or Wright Park lately, you should. Well worth the visit. For more information about living at the Vintage Y and properties currently available for purchase, visit www.401vintagey.com.
Mark Pinto is a top-producing Realtor with Windermere in Tacoma specializing in the purchase and sale of historic and luxury homes. Click here to e-mail Mark or feel free to give him a call at (253) 318-0923.
