NEWS

LOCAL HOME SALES BUCK COUNTY AVERAGE

By: Lyle Evansiano June 18, 2008

May 2008 statistics reveal a sluggish real estate market in Pierce County. In single family residential resales there were only 741 closed sales as compared with 1,069 in 2007, a drop of 31% year to year. The median home sale price dropped from $270,000 to $254,000 in 2008 for a drop of 6%.

Orting was the only city with a minimum of 10 closed sales in '07 and '08 to show improvement in May '08 over May '07. Orting sales were up 32%, however the median sales price dropped 15% in May.

Tacoma showed the highest drop in May 2008 with 38% fewer closed sales. The median sales price dropped 9%.

Here are some other Pierce County cities of interest (minimum 10 closed sales in May '07 and May '08);

City Closed Sales % Change Median Sales % Change

Orting +32% -15%

Bonney Lake 11% -17%

Dupont -5% -8%

Gig Harbor -36% 0%

Graham -27% + 1%

Lakewood -31% 0%

Puyallup -21% -6%

Spanaway -21% -5%

Sumner 0% -27%

Tacoma -38% -9%

University Place -32% +16%



PIERCE COUNTY -31% -6%