Tacoma Real Estate Market - Summer 2022

It’s time for an update on the summer 2022 Tacoma Housing Market. For the month of July 2022 Tacoma home prices were up 16.3% when compared to the same month in 2021. What’s incredible is that 16% increase follows a roughly 14% increase the previous year! That’s great news for home owners building equity and for our sellers who are looking to cash in on all time highs. It’s important to acknowledge that interest rates are definitely higher than last year by about 2%, and some buyers have been priced out of the market. Houses are sitting a bit longer on the market, but thankfully we are still in a historic sellers market here in Tacoma and with the correct preparation, pricing and strategy homeowners looking to sell can still get top dollar for their homes.

The good news for Tacoma Real Estate buyers

in the update is that the average Tacoma house sold slower than last year, at 26 days on the market compared to less than a week last year. We have also been seeing price drops on houses that priced too aggressively, which was less common a year ago. That means the market has relaxed a bit, allowing buyers to have more choice and to take a bit more time when purchasing a home. With some of the frenzy gone from the market and more buyer friendly conditions, we have been able to negotiate much more buyer friendly contracts for our clients, securing better pricing, repairs, credits and more. If you’ve been sitting on the sideline waiting for the market to relax to buy a home in Tacoma, now is as good as we have seen over the last few years, so shoot me a message on my contact page and let’s get you a house!

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