CJ's Market Update April 28th. 2022

Hello!

This is a Pierce County market update that you can rely on every 3 weeks coming to you from me, CJ Stewart with the key2see Team! My focus is on the ever-changing real estate market in Pierce County. You can rely on this blog to show you our market's statistics and developing economical and housing information as it pertains to buying or selling a home in our wonderful area.

The average sales price had a slight increase over the last three weeks as expected. We are forecasting home values in the south Puget Sound to continue to appreciate but at a slower rate than the previous ten years. We are expecting for this appreciation to continue depsite any economic changes in the coming years.

Our highest luxury sale this month was actually out of Buckley! Described by the listing agent as:

The perfect backdrop for modern luxury. This secluded estate is situated on 20+ acres. Custom design w/hand-picked architectural details featuring the finest craftsmanship & materials native to the Pacific Northwest. Private drive lead to stone wrapped timber frame masterpiece w/just under 4100sf. Add'l detached 955sf ADU. Stamped concrete patios w/detailed stonework. Entry glass & knotty alder french doors compliment the hand-scraped hickory floors throughout great room. Astounding five run Swedish masonry fireplace w/mirrored stone wrapped FP & Montana blue pine accents that flow effortlessly to gourmet chef's kitchen w/porcelain Italian floors. Large loft/bonus room w/Juliet balcony. 1872sf 4-bay barn/shop. Covered parking for 13+ cars.

Again, average days on market hovering just above ten days. This number has slowly been rising the last few months and we beleive this is due to rising interest rates. The amount of Buyers in certain price points is going down. So we are seeing less offers on homes, resulting in less of a Buyers frenzy and lower days on market.