Open House
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Seattle area real estate blog

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Seattle-area blog on real estate, art and politics.

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Tacoma and South Puget Sound Real Estate Blog
Tuesday, August 12th, 2008
Posted by Devona Wells @ 12:27:15 pm

By request, here are the months of supply numbers for several areas around Pierce County. Countywide, the average months of supply – the time it would take to sell everything on the market based on sales activity in the last six month – is 10.8 months, according to Northwest Multiple Listing Service statistics provided by Windermere broker Dick Beeson, who is also an MLS director. A balanced market, according to industry standard, is about six months.

A couple areas get close: Lakewood at 6.9 months and Spanaway, with 7.7 months of supply. And then there’s Gig Harbor, which has more than 18 months of supply. I asked Beeson for his take on Lakewood and Gig Harbor.

Lakewood: “It was well above 12 months supply last year because everyone and their brother was putting their house on the market. That whole market place has adjusted.” Also, Beeson says many homes previously listed for sale have been rented by military families stationed at Fort Lewis.

Gig Harbor: “It’s the wrong price range for today’s market.” The median sale price of a Gig Harbor-area home in the last six months was $360,000 (the county’s was $255,000 in July), with a median asking price of $499,000. “If you’re going to sell a house in the Harbor, you’re going to have to be priced under $400,000.” And while it remains a great place to live, Beeson said gas prices and the bridge toll hamper home sales in an area where most people cross the Narrows for work.

Here’s a look at the months of supply as of today:

Area Months of Supply
Bonney Lake/Lake Tapps 11.9
Browns Point 12.7
Graham/Eatonville/Roy 11.9
Fife 9.7
Gig Harbor 18.3
Lakewood 6.9
Parkland 9.3
Puyallup 9.2
Spanaway 7.7
Tacoma, Central 12.5
Tacoma, North 10.5
Tacoma, South/Southeast 10.4
UP/Fircrest 11
Categories: Sales activity