North Tacoma Living

2007 Home Sales Year in Review for the North Slope Historic District

2007 Year In Review - Tacoma's North Slope Historic District Home Sales

Reviewing the home sales in the North Slope Historic District of Tacoma for 2007, the following was noted-

Total # of Homes Sold  - 63

Sales averages-

Average square footage of home- 2642

Average price per square foot- $178.81

Average Days On Market- 89

Average Sales Price- $457,196

The High Sales Price was $1,600,000

The Low Sales Price was $159,000

Based on the number of sales (closed transactions), currently there is about a 10 month supply of homes if not another home goes active on the market!

Another interesting fact is that the average original list price on a home in the North Slope is $482,621. And when it goes under contract the average is $476,580. And yet when a home sale actually records and closes the average sales price is $457,196. Just 95.93% of the current list price. Which tells us that home sellers are starting out in the market a little bit overpriced for what buyers are willing to pay today. Only 20 of the 63 homes received full asking price. Here is a chart that tracks

If you have any questions about these numbers, please feel free to contact me.  I'd be happy to go over the data with you.

Debi Braulik

Tacoma Real Estate

206-949-4785

August 2007 Real Estate Sales Stats for the North Slope

August 2007 Real Estate Sales Stats for Tacoma's North Slope Historic District

From August 1st to August 30th, 2007, four homes sold in the North Slope Historic District in Tacoma. In 2006, there were five sales in the same period.

2007 averages are as follows:

Average Sales Price- $358,625

Average Days on Market (DOM)- 110 days

Average $ per Sq Ft- $222.13

Average Sq Ft- 17058

Low Sales Price- $310,000

High Sales Price- $390,000

Homes sold for 99.07% of their original asking price.

Average sales price to assessed value ratio- 1.33136

Range for sales price to assessed value ratio- 1.14650 to 1.49597

Summary- It is still all about price, price, price. DOM is still in the triple digits. Of the four homes, the longest DOM was 219 days! Interstingly the most expensive sale of the month was the shortest on the market at just 22 days. For the month, demand for the homes active on the MLS has only been on average 2% per week.

July 2007 Real Estate Sales Stats for North Tacoma

July 2007 Real Estate Sales Stats for North Tacoma

From July 1st to July 31st, 2007, 27 homes sold in the North Tacoma from Proctor Street to Commencement Bay and Sixth Avenue north to Commencement Bay.  In 2006, there were 32 sales in the same period and same geographic boundaries. 

2007 averages are as follows:

Average Sales Price- $441,782

Average Days on Market (DOM)- 71 days

Average $ per Sq Ft- $196.12

Average Sq Ft- 2380

Low Sales Price- $251,500

High Sales Price- $1,600,000

Homes sold for 95.34% of their asking price.

July 2007 Real Estate Sales Stats for the North Slope Historic District

July 2007 Real Estate Sales Stats for Tacoma's North Slope Historic District

From July 1st to July 31st, 2007, eight homes sold in the North Slope Historic District in Tacoma. In 2006, there were 13 sales in the same period.

2007 averages are as follows:

Average Sales Price- $649,563

Average Days on Market (DOM)- 132 days

Average $ per Sq Ft- $180.47

Average Sq Ft- 3838

Low Sales Price- $289,000

High Sales Price- $1,600,000

Homes sold for 92.20% of their original asking price.

Average sales price to assessed value ratio- 1.3587

Summary- Today it is not only about location, location, location but almost more importantly it is about price, price, price. As Tacoma continues to experience a buyer's market, the DOM is increasing unless homes are priced aggressively. Of the eight homes, the longest DOM was 262 days! The shortest DOM was 3 days! Of the homes currently listed for sale, demand for them has only been 3.75% per week. Sales are still good but we are a long way from a market balanced in supply and demand.

June 2007 Real Estate Sales Stats for the North Slope Historic District

June 2007 Real Estate Sales Stats for Tacoma's North Slope Historic District

From June 1st to June 30th, 2007, five homes sold in the North Slope Historic District in Tacoma. In 2006, there were 10 sales in the same period.

2007 averages are as follows:

Average Sales Price- $554,000

Average Days on Market (DOM)- 49 days

Average $ per Sq Ft- $178.34

Average Sq Ft- 3001

Low Sales Price- $285,000

High Sales Price- $810,000

Homes sold for 97.99% of their asking price.

Average sales price to assessed value ratio- 1.4754

The DOM is a pleasant , positive change! Obviously homes were priced right! In today's buyer's market, pricing is more important than ever. The longest DOM was 87 days. That home was the most expensive sale in the month at $810,000. Demand for homes has been on average only 4% of the homes currently listed for sale.   (Under 45% indicates a buyer's market.) 

June 2007 Real Estate Sales Stats

June 2007 Real Estate Sales Stats for North Tacoma

From June 1st to June 30th, 2007, 23 homes sold in the North Tacoma from Proctor to Commencement Bay and Sixth Avenue north to Commencement Bay.  In 2006, there were 32 sales in the same period and same geographic boundaries. 

2007 averages are as follows:

Average Sales Price- $385,000

Average Days on Market (DOM)- 72 days

Average $ per Sq Ft- $188.61

Average Sq Ft- 2400

Low Sales Price- $226,000

High Sales Price- $982,000

Homes sold for 99.10% of their asking price.

North End Real Estate Sales Stats for May 2007

May 2007 Real Estate Sales Stats for North Tacoma

From May 1st to May 31st, 2007, 20 homes sold in the North Tacoma from Proctor to Commencement Bay and Sixth Avenue north to Commencement Bay.  In 2006, there were 27 sales in the same period and same geographic boundaries.

2007 averages are as follows:

Average Sales Price- $389,562

Average Days on Market- 76 days

Average $ per Sq Ft- $184.54

Average Sq Ft- 2250

Low Sales Price- $159,000

High Sales Price- $905,000

Homes sold for 97.03% of their asking price.

The four week average of demand was only 17%.  That tells us that is it still a very strong buyer's market in North Tacoma.

North Slope Historic District May 2007 Real Estate Sales Stats

May 2007 Real Estate Sales Stats for Tacoma's North Slope Historic District

From May 1st to May 31st, 2007, nine homes sold in the North Slope Historic District in Tacoma. In 2006, there were 10 sales in the same period.

2007 averages are as follows:

Average Sales Price- $425,533

Average Days on Market (DOM)- 74 days

Average $ per Sq Ft- $175.08

Average Sq Ft- 2420

Low Sales Price- $159,000

High Sales Price- $875,000.

Homes sold for 95.89% of their askig price.

The DOM is a little deceptive. Three of the nine homes were on the market more than 110 days. The other six were sold in 55 days or less. That means they were priced to sell. Even in the buyer's market that North Tacoma is experiencing. Demand for homes has been on average only 6.25% of the homes currently listed for sale.   (Under 45% indicates a buyer's market.) The week with the largest demand was the week ending May 20th. That week saw a 13% demand.

Tacoma In Top 20 Nationwide For Home Appreciation

Tacoma In Top 20 Nationwide For Home Appreciation

On Friday, MSN Money Staff released their findings of the top 282 cities across the nation in regards to home appreciation.

The rankings are based on average house price changes in repeat sales or refinances of the same single family homes. The results are given in the first quarter of 2007, 1 year averages, and 5 year averages.  Tacoma ranked 19th in the nation with a first quarter average gain of 1.52%. The average appreciation over the last year was 11.90%.  The average appreciation over the last five years was 76.09%!  As a resident of Tacoma, we see this everyday when we stop to pick up real estate for sale flyers. :)

As a whole, Washington State had 10 Metropolitian areas place in the top 50 nationwide. Proof that our housing market is still pretty good overall.

Metro Area                  Rank   1st Qtr 2007       1 year     5 year

Wenatchee, WA

1

5.96

25.60

70.56

Spokane, WA

11

2.20

13.64

66.42

Longview, WA

14

1.81

12.89

53.51

Seattle-Bellevue-Everett, WA

16

2.25

12.56

66.25

Tacoma, WA

19

1.52

11.90

76.09

Bremerton-Silverdale, WA

24

2.19

11.11

85.24

Portland-Vancouver-Beaverton, OR-WA

25

1.33

11.00

67.38

Yakima, WA

33

1.37

9.69

32.03

Mount Vernon-Anacortes, WA

42

-0.50

8.66

69.78

Bellingham, WA

49

1.85

8.21

85.76

Kennewick-Richland-Pasco, WA

168

-2.09

3.37

21.88

Click on the title to read the complete article, Home Prices by City.

April 2007 North Tacoma Real Estate Sales Stats

April 2007 Real Estate Sales Stats for North Tacoma

From April 1st to April 31st, 2007, 23 homes sold in the North Tacoma from Proctor to Commencement Bay and Sixth Avenue north to Commencement Bay.  In 2006, there were 24 sales in the same period. 2007 averages are as follows:

Average Sales Price- $379,685

Average Days on Market- 94 days

Average $ per Sq Ft- $184.61

Average Sq Ft- 2063

Low Sales Price- $210,000

High Sales Price- $775,000 

The biggest change this past year was the Days on Market. Last year's average for the same period was 68 days as compared to this year's 94 days. That tells us that is it still a very strong buyer's market in North Tacoma. Homes sold for 99.01percent of their original asking price which means there were price concessions.