Get Real Tacoma

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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I was thinking about the story the News Tribune did on the pending sales increasing in Pierce County.  After reading the story, I felt like there was still more information needed to fill in the cracks.  So I got off my lazy bum and ran the numbers.  These are the two main questions I had:

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 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.

I’m running out of clever preambles, so let’s kick off part 3 of Tacoma Sales Stastics 2008.  For this round, we’re looking at 98403, for the purposes of this post, we’re going to call this Stadium, even though it covers North Slope and some Old Town, because calling it StadiOldSlope is a compromise no one is interested in making. 

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For the second installment in the neighborhood sales statistics, we will visit 98405.  Loosely translated here as “Hilltop” this includes areas that many consider downtown, as well as the McCarver Neighborhood.   I can say hands down that this is the neighborhood that the majority of my first time home buyers are asking about these days. It’s affordable, convenient, and cool.

Downtown gets all the attention, but 98405 has been a real workout this year, churning out lots of affordable sales.

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Sold Signs

So I promised earlier this week that I would break down the 2008 Sales Statistics for Homes & Condos in the City of Tacoma neighborhood by neighborhood.

I know folks around here are pretty sensitive about where neighborhood lines are drawn.  I swear I almost heard someone go to blows over whether the were “Stadium” or “North Slope”.  God forbid you start the discussion of “North End” or “Near North End”.  I’ve decided that for the purposes of these statistics we are going to go by zip code, thereby sparing me the need to defend my definition of neighborhoods.  I just hate conflict…

So today we will start with Downtown Tacoma, in the form of zip code 98402.

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View From Unit #401 at Cliff Street Lofts

This might sound a little strange, but sometimes I get a little attached to certain properties.  That happened with Unit #401 at Cliff Street Lofts.  A 1 Bedroom, 1 Bath Loft with 14 Foot Ceilings.  

What I loved most was that it was on the corner, shaped like and “L”  so there was TONS of light and a really open feel.   The angle meant you had a view of both the port AND the mountain.  I showed it a few times but did not have a client that clicked with it the way I did.

It sold for $174,000 and closed today.  I hope the new buyer loves it as much as I did! Pictures after the jump.

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Everyone loves a good year end wrap-up. Me included! Here are the sales stats for The City of Tacoma for 2008:

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