Pierce County Real Estate Market Update — December 2023

Pierce County Real Estate Market Update - OctoberConsidering buying or selling a home in Pierce County soon? If so, you owe it to yourself to catch up with the latest changes in the local real estate market. Here is everything you need to know about Pierce County's real estate market and how it has changed in this past month.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Pierce County New Listings

New Listings by Month - Pierce County 2022

In October 2023, Pierce County witnessed a robust real estate market with 788 new residential listings. The following month, November 2023, maintained a healthy influx with 674 new listings. This consistent activity indicates a dynamic market, offering ample choices for potential homebuyers and reflecting the ongoing interest in the residential sector.


Pierce County Active Listings

2022 Active Listings - Pierce County

Pierce County's residential market in October 2023 featured 1,389 active listings, showcasing a market with a diverse range of available properties. The trend continued into November 2023, with 1,329 active listings, suggesting a stable housing inventory. This balance provides both buyers and sellers with opportunities in the market.


Pierce County Pending Listings

2022 Pending Listings in Pierce County

The Pierce County residential real estate market demonstrated active engagement in October 2023, with 776 pending listings indicating a strong demand. In November 2023, despite a slight decrease to 655 pending listings, the market remained dynamic, underlining ongoing interest and transactions in the residential sector.


Pierce County Closed Sales

2022 Home Sold in Pierce County

October 2023 saw a robust real estate market in Pierce County with 718 closed residential sales. The following month, November 2023, maintained healthy activity with 583 closed sales. These figures indicate a market where transactions are occurring, reflecting a balance between supply and demand.


Pierce County Average Selling Price - Residential Only

Pierce County 2022 Prices - Single-Family Homes

The average sales price for residential properties in Pierce County in October 2023 was $592,216, showcasing a competitive market. Moving into November 2023, the average sales price increased to $615,593, suggesting potential appreciation in property values and continued market strength.


Pierce County Average Selling Price - Condominiums

Pierce County 2022 Condo & Townhome Prices

In the condominium market of Pierce County, October 2023 saw an average sales price of $436,440. Despite a slight decrease, the average sales price in November 2023 remained competitive at $416,541. This indicates stability in the condominium market, with reasonable pricing for both buyers and sellers.

Buy Your Home With RexMont Real Estate Today

The data in this report reflects a snapshot of the Pierce County housing market as it exists today. If you are thinking of buying or selling a home in Pierce County, please contact RexMont Real Estate for more information and to discuss your specific needs. We would be happy to help!

Previous Market Updates

November 2023 Pierce County Real Estate Market Update

Here is the update for Pierce County in November 2023.

Pierce County New Listings

New Listings by Month - Pierce County 2022

In October 2023, Pierce County witnessed a robust real estate market with 788 new residential listings. The following month, November 2023, maintained a healthy influx with 674 new listings. This consistent activity indicates a dynamic market, offering ample choices for potential homebuyers and reflecting the ongoing interest in the residential sector.


Pierce County Active Listings

2022 Active Listings - Pierce County

Pierce County's residential market in October 2023 featured 1,389 active listings, showcasing a market with a diverse range of available properties. The trend continued into November 2023, with 1,329 active listings, suggesting a stable housing inventory. This balance provides both buyers and sellers with opportunities in the market.


Pierce County Pending Listings

2022 Pending Listings in Pierce County

The Pierce County residential real estate market demonstrated active engagement in October 2023, with 776 pending listings indicating a strong demand. In November 2023, despite a slight decrease to 655 pending listings, the market remained dynamic, underlining ongoing interest and transactions in the residential sector.


Pierce County Closed Sales

2022 Home Sold in Pierce County

October 2023 saw a robust real estate market in Pierce County with 718 closed residential sales. The following month, November 2023, maintained healthy activity with 583 closed sales. These figures indicate a market where transactions are occurring, reflecting a balance between supply and demand.


Pierce County Average Selling Price - Residential Only

Pierce County 2022 Prices - Single-Family Homes

The average sales price for residential properties in Pierce County in October 2023 was $592,216, showcasing a competitive market. Moving into November 2023, the average sales price increased to $615,593, suggesting potential appreciation in property values and continued market strength.


Pierce County Average Selling Price - Condominiums

Pierce County 2022 Condo & Townhome Prices

In the condominium market of Pierce County, October 2023 saw an average sales price of $436,440. Despite a slight decrease, the average sales price in November 2023 remained competitive at $416,541. This indicates stability in the condominium market, with reasonable pricing for both buyers and sellers.


March 2023 Pierce County Real Estate Market Update

Here is the update for Pierce County in March 2023.

Pierce County New Listings

New Listings by Month - Pierce County 2022

With February 2023 just around the corner, we now have a glimpse into what we can expect for the month's new listings. Compared to the 1,247 new listings in February 2022, the upcoming February of 2023 is expected to see a significant decrease with only 816 new listings. While this may seem like a cause for concern for some, it's important to remember that the housing market can fluctuate just as any other market would. 

Pierce County Active Listings

2022 Active Listings - Pierce County

With a jump from 414 in February 2022 to 921 just one year later, it's clear that demand for homes in this area is on the rise. For those looking to invest in or relocate to Pierce County, this significant increase in available properties is great news. 

Pierce County Pending Listings

2022 Pending Listings in Pierce County

With 1,063 pending listings for February 2023, this may indicate a shift in supply or demand. Nonetheless, the housing market remains strong with almost 1,100 properties waiting to be sold or closed. If you are a seller, get your home on the market before the competition picks up. 

Pierce County Closed Sales

2022 Home Sold in Pierce County

February 2023 is looking like it may bring some changes to the market, as the number of pending listings has decreased from the previous year. With 1,063 pending listings for February 2023, this may indicate a shift in supply or demand. Nonetheless, the housing market remains strong with almost 1,100 properties waiting to be sold or closed. If you are a seller, get your home on the market before the competition picks up. 

Pierce County Average Selling Price - Residential Only

Pierce County 2022 Prices - Single-Family Homes

According to data from February 2023, the average selling price for residential homes in Pierce County has risen to $578,665, an impressive increase from the previous year's price of $535,000. This data suggests that buyers are willing to pay more for homes in Pierce County, indicating strong demand and a healthy housing market.

Pierce County Average Selling Price - Condominiums

Pierce County 2022 Condo & Townhome Prices

The real estate market in Pierce County is showing strong growth, with the average selling price of condominiums increasing from $400,000 in February 2022 to $414,723 in February 2023. This upward trend is a testament to the desirability of this area, which boasts both scenic natural beauty and close proximity to urban amenities. 



February 2023 Pierce County Real Estate Market Update

Here is the update for Pierce County in February 2023.

Pierce County Homes Listed Monthly

New Listings by Month - Pierce County 2022

The number of properties listed in Pierce County this year began lower in January and reached its peak in June before falling gradually again. The latter half of the year saw consistent decreases in the number of new listings, as is normal in real estate. December saw a total of 655 new listings, lower than in previous years but still expected due to rising interest rates.

Pierce County Active Listings

2022 Active Listings - Pierce County

While 2022 may have started out with a historic low for active listings, the first half of the year was spent catching up. Active listings peaked in July with a total of 3,116 before gradually coming back down. December had a total of 2,316 active listings, the highest number of any illustrated year by a significant margin.

Pierce County Homes Pending Monthly

2022 Pending Listings in Pierce County

Pending listings in Pierce County saw up and downs throughout 2022. The year opened with 1,084 pending listings and ended with 710 in December. Interest rates have a large effect on buyers, and it clearly shows on the chart when compared to previous years.

Pierce County Homes Sold Monthly

2022 Home Sold in Pierce County

January 2022 saw sales on par with 201p and 2020. Sales increased throughout the first six months, peaking in June before falling. While the latter half of the year did see one small increase in August, it spent most of its time in gradual decline until finishing with 788 homes sold in December.

Pierce County Average Selling Price Per Month - Single-Family Homes

Pierce County 2022 Prices - Single-Family Homes

Average sales prices for single-family homes in Pierce County started at just under $550,000 in January 2022 and climbed throughout late winter and spring. Prices peaked in May at $626,353 before very slowly tapering until October. November saw a dramatic decrease in price, but December caught the ball and returned to the gradual taper with about a $7,000 difference from November.

Pierce County Average Selling Price Per Month - Condos & Townhomes

Pierce County 2022 Condo & Townhome Prices

January 2022 started with a historic high for multi-family homes at $494,277. After a few small dips and rises, prices eventually peaked in August, though October wasn’t far behind, with just a $600 difference! November began the dramatic price changes, coming in at an average sales price of just over $490,000. After that, December followed suit, with another price decrease, this time finalizing at $412,580.


January 2023 Pierce County Real Estate Market Update

Here is the update for Pierce County in January 2023.

Pierce County Homes Listed Monthly

New Listings by Month - Pierce County 2022

The number of properties listed in Pierce County this year began lower in January and reached its peak in June before falling gradually again. The latter half of the year saw consistent decreases in the number of new listings, as is normal in real estate. December saw a total of 655 new listings, lower than in previous years but still expected due to rising interest rates.

Pierce County Active Listings

2022 Active Listings - Pierce County

While 2022 may have started out with a historic low for active listings, the first half of the year was spent catching up. Active listings peaked in July with a total of 3,116 before gradually coming back down. December had a total of 2,316 active listings, the highest number of any illustrated year by a significant margin.

Pierce County Homes Pending Monthly

2022 Pending Listings in Pierce County

Pending listings in Pierce County saw up and downs throughout 2022. The year opened with 1,084 pending listings and ended with 710 in December. Interest rates have a large effect on buyers, and it clearly shows on the chart when compared to previous years.

Pierce County Homes Sold Monthly

2022 Home Sold in Pierce County

January 2022 saw sales on par with 201p and 2020. Sales increased throughout the first six months, peaking in June before falling. While the latter half of the year did see one small increase in August, it spent most of its time in gradual decline until finishing with 788 homes sold in December.

Pierce County Average Selling Price Per Month - Single-Family Homes

Pierce County 2022 Prices - Single-Family Homes

Average sales prices for single-family homes in Pierce County started at just under $550,000 in January 2022 and climbed throughout late winter and spring. Prices peaked in May at $626,353 before very slowly tapering until October. November saw a dramatic decrease in price, but December caught the ball and returned to the gradual taper with about a $7,000 difference from November.

Pierce County Average Selling Price Per Month - Condos & Townhomes

Pierce County 2022 Condo & Townhome Prices

January 2022 started with a historic high for multi-family homes at $494,277. After a few small dips and rises, prices eventually peaked in August, though October wasn’t far behind, with just a $600 difference! November began the dramatic price changes, coming in at an average sales price of just over $490,000. After that, December followed suit, with another price decrease, this time finalizing at $412,580.


December 2022 Pierce County Real Estate Market Update

Here is the update for Pierce County in December 2022.

New Listings Monthly in Pierce County

Pierce County, WA - New Listings - December 2022

Pierce County has seen a decrease in new listings every month since peaking in June, and November was no exception. As we approach the end of the year, the market has sufficiently cooled off, and new listings aren’t nearly as common as they were back in summer.

Active Listings Monthly in Pierce County

Active Listings in Pierce County - December 2022

While new listings aren’t as common as they were, November actually saw more total active listings than October, which isn’t ordinary for this time of year. November actually had around 130 more listings than the previous month, going against the established norm of continuing to taper off until the end of the year.

Pending Listings Monthly in Pierce County

New Listings in Pierce County, WA

Despite there being more active listings in November, pending listings were still down. Pierce County had a total of 812 pending listings in November, down from 959 in October. It’s likely that it will continue this downward trend in December.

Sales Monthly in Pierce County

Pierce County, WA Total Sales - December 2022

Monthly sales for 2022 have been lower overall than the past few years since peaking in June. November had 911 sales, the first time 2022 dropped out of the quadruple-digits since January. Previous years have seen one last small upswing in December, but it’s still too soon to say if that will happen in 2022.

Average Sales Price in Pierce County (Single-Family Homes)

Pierce County Average Single-Family Home Prices

The average sales price for single-family homes had been quite consistent throughout the year, but that changed in November. Last month saw the largest decrease of all of 2022, with a difference of about $55,000 since October.

Average Sales Price in Pierce County (Condo & Multi-Family Homes)

Pierce County Average Multi-Family & Condo Home Prices

While single-family home prices were quite consistent throughout 2022, condo and multi-family home prices were quite tumultuous by comparison. However, despite that, November saw an increase of nearly $50,000 in average sales prices since October.


November 2022 Pierce County Real Estate Market Update

Here is the update for Pierce County in November 2022.

Pierce County Homes Listed Monthly

New Listings in Pierce County, October 2022

The number of properties listed in Pierce County this year began the lowest it’s been since before 2019, but it steadily increased until March. It hit its peak in June after a slight dip in April, and has steadily decreased throughout rest of the year to October. As mortgage rates affect buyer affordability, we may see listings stay on the market for a bit longer as the year unfolds.

Pierce County Active Listings

Total Active Listings - Pierce County - October 2022

Active listings started lower than they had been since 2019 but rose throughout the year until hitting a peak in June. The months leading up to October have fallen gradually, in line with previous years. 

Pierce County Homes Pending Monthly

Total Pending Listings in Pierce County, WA

2022 saw plenty of rises and falls throughout the year due to rising interest rates affecting affordability. The year peaked first in March, then again in May and August, though those months didn’t quite reach the height of the first peak. October has fallen fairly significantly compared to previous years.

Pierce County Homes Sold Monthly

Average Single-Family Home Prices in Pierce County by Month

From January through June of this year, sales saw steady increases before falling in July. August had a slight reprieve from the downward trend, but it continued in both September and October. This pattern can be attributed in part to rising interest rates.

Pierce County Average Selling Price Per Month - Single-Family Home

Single-Family Home Price Average - Pierce County October 2022

Throughout every month in 2022, sales prices have been higher than those months in years past, and October is no exception. While single-family home sales prices have been declining since July, October 2022’s average still came in at almost $40,000 higher than October 2021.

Pierce County Average Selling Price Per Month - Condos & Multi

Total Sales in October 2022 - Pierce County

2022 has seen a lot of ups and downs in terms of the multi-family housing market. After being up in September, October did see a substantial decrease. How does this bode for the remainder of the year? We’ll have to wait and see in our next market update.


October 2022 Pierce County Real Estate Market Update

Here is the update for Pierce County in October 2022.

Pierce County Homes Listed Monthly

New Pierce County Home Listings in September 2022

As illustrated, the number of homes listed in Pierce County this year began lower in January and went up until March. It reached its peak in June, but we can see that numbers have decreased steadily since July. Despite this, homes that get listed often don’t last long as buyers are ready to pounce on listings as soon as they’re published. As mortgage rates impact buyer affordability, we may see listings linger on the market through the rest of the year.

Pierce County Active Listings

Active Pierce County Home Listings in September 2022

2022 started with historically low inventory but increased throughout the year until peaking in July. August saw the first decline in active listings, and September followed suit.

Pierce County Homes Pending Monthly

Pending Pierce County Home Listings in September 2022

The number of Pierce County listings peaked in March and saw a pattern of ups and downs throughout the year after that. Since hitting a high in August, numbers fell in September, but not as dramatically as we’ve seen previously.

Pierce County Homes Sold Monthly

Sold Pierce County Home Listings in September 2022

At the beginning of the year, sales numbers in Pierce County were trending upwards from January through June. However, they trended downwards in July before increasing slightly in August. September saw another decrease, which may set the course for the rest of the year as mortgage rates increase.

Pierce County Average Selling Price Per Month - Single-Family Homes

Single-Family Pierce County Home Prices in September 2022

Single-family home prices in Pierce County started off high and climbed through the year until peaking in May. Since then, prices have gradually fallen, though they are still significantly higher than in January.

Pierce County Average Selling Price Per Month - Condos & Multi-Family Homes

Pierce County Multi-Family Home Prices in September 2022

Multi-family home prices in Pierce County have seen more up-and-down movement throughout 2022 than single-family homes. While prices peaked in June, they slowly fell through the following months to September.


September 2022 Pierce County Real Estate Market Update

Looking for the latest market update for Pierce County, WA? You've come to the right place! In this blog post, we'll provide an overview of what's been happening in the real estate market lately and what to expect in the near future. Whether you're a home buyer or seller, it's important to stay up-to-date on the latest trends and changes in order to make informed decisions, especially as the market changes.

Pierce County Homes Listed Monthly

New Pierce County Home Listings in August 2022

As illustrated, the number of homes listed in Pierce County this year began lower at January and constantly went up until March.

It reached its highest as of now on June, but we can see that it went down this July-August. Homes that do get listed haven’t remained on the market for long with anxious buyers jumping on listings as soon as they hit the market. As buyer affordability is impacted by mortgage rates, we may see listings linger a little longer on the market as the year progresses.

Pierce County Active Listings

Active Pierce County Home Listings in August 2022

The graph illustrates monthly active inventory in Pierce County in 2022. It has shown historically low inventory but has started going up until July 2022 and is expected to continue in this direction as the year progresses. But it went a bit down on August.

Pierce County Homes Pending Monthly

Pending Pierce County Home Listings in August 2022

So far in 2022, we can see that there's a constant increase in homes in pending in Pierce County for the first three months. Pierce County had significant decrease on June and August.

Pierce County Homes Sold Monthly

Sold Pierce County Home Listings in August 2022

The graph illustrates the number of homes sold per month. At the beginning of the year, sales numbers in Pierce County were trending upwards from January up to June. However, they have started to trend downwards on July and are expected to continue in that direction as increased mortgage rates will continue to impact buyer affordabilty. But it gradually increased this month of August.

Pierce County Average Selling Price Per Month - Single Family Home

Single-Family Pierce County Home Prices in August 2022

The graph shows that Pierce County is trending upwards and reached the highest sales price on May 2022. However, sales price started going down on June, but gradualy changes on the recent months which is July-August.

This chart depicts prices from January 2022 to August 2022.

Pierce County Average Selling Price Per Month - Condos & Multi

Pierce County Multi-Family Home Prices in August 2022

Looking at the graphs, we can see that Pierce County started going up on the second month, but went down on March until April. It constantly went up again on May until June. However, it started going down again on the recent months which is July-August.

This chart depicts prices from January 2022 to August 2022

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

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