TACOMA, WAS - Redfin reports that Tacoma is now the nations’ hottest housing market and says it’s because people are being priced out of Seattle.
The report looks at numbers over the last few weeks of spring.
According to the report, 50.2% of homes sold (under contract) within two weeks.
The report also says that 49.7% of homes sold above the asking price.
“It doesn’t surprise me,” said Abby Romero. “You get more bang for your buck in the south end."
Romero is a realtor. She works from Everett to Tacoma. She says she is seeing more people looking for homes in Tacoma to avoid the high costs and competitiveness of buying in Seattle.
Redfin reports the median sale price of a home in Seattle is $595,000. In Tacoma, the median sale price is $370,000.
“That is a big chunk of change,” said Romero.
For sellers in Tacoma, this is good news.
“I bought it as an investment, so it’s good for me if it’s the hottest market in the country,” said Carmen Benway, who is selling her home in Tacoma.
However, for buyers in Tacoma this means you might have to start paying more.
Redfin reports that home prices were up 6% in Tacoma for the same period of time as last year.