Tacoma housing market ranks 5th most competitive in U.S.

KING 5's Ryan Takeo reports.

A new report by Seattle-based Redfin ranked Tacoma the fifth most competitive housing market in the country.

Redfin said 52 percent of Tacoma’s home sales in June were above list price.

“Very competitive market,” said Steve Crowell of Keller Williams Puyallup. “We’re getting a lot of people out of Seattle that have discovered their money goes a lot further down here as up there.”

Crowell was holding an open house for a three-bed, two-bath home in South Tacoma listed at $269,000.

Crowell said that price point, a range for first-time homebuyers, is especially competitive considering Joint Base Lewis-McChord is right down I-5.

Tacoma’s median list prices is about $320,000. That’s less than half of Seattle’s median sale prices, which is about $735,000, according to Redfin.

Crowell says his last handful of sales have been to buyers who left Seattle or King County for more affordable homes.

“It’s the same story. ‘We live in Seattle, we work in Seattle, we make a decent income in Seattle. We cannot afford to buy a house in Seattle,’” said Crowell.

Kurt Rough recently sold his West Seattle house. He’s already moved to rent in Tacoma. On Saturday he visited Crowell’s listing.

“I haven’t made an offer on anything yet. I have bid on anything, but the open houses seem to be quite busy,” said Raugh.

© 2017 KING-TV


JOIN THE CONVERSATION

To find out more about Facebook commenting please read the
Conversation Guidelines and FAQs

Leave a Comment