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Pierce County, Washington, 2021 Housing Market Report

The time we currently live in isn’t sure the most certain time. In today’s world, it’s more important than ever to stay informed about the current situation with the economy. Not just on a global or national scale but also on a local scale. For this reason, we decided to write a brief article about the Pierce County housing market to raise the awareness it deserves.

Without further ado, here’s everything you need to know about the Pierce County housing market:

Pierce County Housing Market

Pierce County Housing Market 2021

The overall housing market of the United States has been on an uptrend since the last significant market crash in 2008. We’ve seen this trend evolve even faster in the last 12 months alone. In April 2021 were the home prices up 25.3% compared to last year. When it comes to the median price, it currently sits at $500k.

There were 1558 homes sold in April 2021, up from 1010 last year.

We can, without a doubt, say that Pierce County, WA, is a seller’s market, meaning there are actually more people looking to buy than there are homes available.

On average, homes in Pierce County sell after 36 days on the market, and buyers are often willing to go into bidding wars.

How will the trend evolve?

We all would like to see the value of our assets rise, but, as we all know, markets cannot only go up, and eventually, corrections are inevitable. The market has been on a consistent uptrend for the last 12 years. In addition, many financial analysts warn about upcoming financial problems such as hyperinflation due to economic issues concerning the covid situation and ways of trying to stimulate the economy such as printing money. Over 40% of all dollars ever printed were printed in 2020 alone. This fact alone should suggest that something’s not quite correct.

 With that being said, we predict that the markets can keep rising for quite a while, but nobody knows if that means three months or two years. Eventually, in the long run, we will see a significant decrease in the value of many assets before the economy stabilizes again. If you ever thought of selling your home and take in your profits, this is the perfect time to do so before it’s too late.

Conclusion

Pierce County housing market is sizzling hot at the moment, considering the fact that there’s nothing really logical about the 25% increase in prices in a matter of 12 months. This, however, isn’t an issue of this area specifically but rather an overall U.S. housing market problem since we are starting to see overpricing of some types of properties in some regions of the United States.

We hope our article helped to raise your awareness about this important topic. If there’s anything, you’d like to ask us, feel free to do so. Our team will be more than happy to answer all your questions.