Get Real Tacoma

Tacoma's Future

No one can predict the future, but when a city the size of Tacoma, (often in the shadow of larger northwest cities when it comes to real estate reporting) is declared the best bet for price appreciation from 2008-2013, it’s hard not to be flattered and excited.

This report was put out by Moodys based on information in the Case-Shiller Index.

10 Best Markets:

10 Worst Markets:

Source: Fiserv, Moody’s Economy.com

I live in Tacoma and I love this city.  Nothing would make me happier than seeing that kind of appreciation.  Regardless of how much stock you put in the Case-Shiller Index, it’s great to see good things said about Tacoma.  Go back and look, I didn’t see the word “Seattle” anywhere in that article…

For Discussion check out Exit133.

Via @SustainableMBA

 As of today, there are 1,987 houses and condos for sale in Tacoma.  The median size is 3 bedrooms, 2 bathrooms 1,561 square feet.  The median list price is $239,950.

There are currently 309 Pending Sales in Tacoma, giving us a city wide sales ratio of 15%.  A balanced market is around 50%.  Less than 50% is a buyers market.  

The median listed price (not what they sold for mind you, we won’t know that until they close) of houses that are pending is $209,950. That means houses that are getting offers are 30k lower than the median price.  The buyers that are out there are looking for deals.

When we look at what sold in the past 9 days, it’s easy to see why they’re trying to wheel and deal.  This week 12 houses and 1 condo sold in Tacoma.  Of the 12 houses, 8 of them were BANK OWNED FORECLOSURES.  Another 2 were new construction.  Banks and builders generally have a greater ability than your average seller to wheel and deal.  The median size on sold houses was 3 bedrooms, 1.5 Baths 1,348 square feet.  The median price? $169,900.  That means that for the first week of 2009, the median sold price is 70k lower than the median listed price, and 40k lower than the median pending price.