The median home price in Tacoma’s North End is 19% higher today than it was just 12 months ago, due in large part to strong buyer demand, historically low interest rates and unbelievably low housing inventory levels.
233 single family homes were sold in zip codes 98403, 98406 and 98407 in the fourth quarter of 2021 – a significant 25% increase in sales activity when compared to the fourth quarter of 2020.
As of January 1st of this year, there were only 8 single family homes available for sale in zip codes 98403, 98406 and 98407 combined. Eight houses total. That’s less than a week’s worth of inventory. A balanced market requires 4-6 months of inventory. New listings are expected as we head into the first few months of the year, but strong buyer demand is likely to absorb that new inventory in short order.
Homes continue sell quickly in North Tacoma – moving from active to pending in just 2-3 weeks on average.
In the current real estate marketplace, it remains critical for buyers and sellers to seek expert advice. If you’re thinking about buying or selling a home in the area, please contact us to discuss how we can put our knowledge and experience to work for you.