Get Real Tacoma

I set out today to make a Pie chart of which buildings have condos listed on the MLS in Downtown Tacoma. It was interesting, but it is a bit deceptive. Both The Roberson and Esplanade have vacant units that are not currently listed on the MLS.

Which buildings have condos for sale downtown.

The Esplanade has 11 listed as pending and 10 sold- which leaves about another 140 units for sale that aren’t listed yet, which is more than every other listing on the market in Downtown Tacoma combined. Eek. So if we are being conservative, we could say that there are about 210 Condos and Townhouses for sale in 98402.  In the past 12 months, 43 condos have sold.  This means that at the current rate of sale it will take a little over 4 years for all the excess condos to be soaked up downtown. Read the rest of this entry »

Well priced Stadium / North Slope condos are moving...

Ah Stadium. Ah North Slope. So lovely. So fancy, and so far this year…. so busy with closed condos.  The 98403 has seen 22 closed condos sold so far this year, (5 of those in the past 3 weeks) ranging in price from $105,000 for a 471 square foot studio to $946,000 for a 2 bedroom 2.5 bath at 302 N Stadium Way.

The average number of days on market were brutal, at 391 days, selling for an average of 95% of their listed price at the time of sale.  There are currently 5 pending condo sales.

Here’s what’s selling…

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Everyone's gossiping about Downtown Tacoma Condos These Days

Everywhere I go these days, people are asking about the Downtown Tacoma real estate market. “It seems like it’s picking up! Is it picking up?”  The answer is, it depends on the price range and it depends on where we’re talking about.  Over the next couple days I’m going to talk Tacoma (as usual) starting with Downtown Tacoma Condos in 98402.

Right now there are 11 pending condos, half of those are at 505 Broadway, which has been rewarded for its aggressive price reductions with lots of closed sales. It would be great to see The Roberson and The Esplanade (once it’s done being forclosed on and relists as bank owned foreclosures or whatever they decide to do) follow 505 Broadway’s lead and start pricing to sell.

So far this year there are 21 closed condo sales. The median sale price of a condo in downtown Tacoma is $308,415 for 1,214 square feet with a low price of $131,000 for a studio at Cliff Street Lofts and a high of $742,650 for 1,919 square foot palace at 505 Broadway.  Here’s the breakdown:

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A little bit busy...

Every full-time Realtor I know is swamped right now.  Don’t even get me started on the loan officers.  Ask anyone in the Real Estate business right now how things are going and you are likely to hear “I’m busy! Gha!”

So, if anyone is wondering why my posting has been lax this past month or so, it is because every buyer and seller on the planet decided to start making deals and the result has been a very heavy workload.

Enough with the excuses! On to some real numbers for Downtown Tacoma Real Estate. Read the rest of this entry »

Here are the homes and condos that sold in the Downtown Tacoma Area by Zip Code.  By far, the highest number of home sales were in the Hilltop/Central Tacoma area (98405), with 12 houses and 1 condo selling in February.  The median Sales Price for Hilltop/Central Tacoma was $174,000.

 Stadium/North Slope (98403) and Downtown Tacoma (98402) on the other hand, posted only 2 sales each.  The median price for Stadium/North Slope was $361,875.  For downtown, it was $220,250.

Sales in Downtown Tacoma in February 2009 - 98402

  Address:              Beds/Baths           Sq Feet    

 1120 Cliff Ave #405   Studio/1                      567          

  Sale Price $131,000    Cliff Street Lofts

  1501 Tacoma  #402    2/2                       1045       

   Sale Price  $309,500  Marcato

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