Edgewood, WA Real Estate Blog

Statistics for February for Edgewood and surrounding cities have just been updated.

I noticed a few points of interest in last months data. The number of active listings in Pierce County actually went down. This is the time of year (after the holidays) when you’d expect an increase in the number of active listings. I haven’t had time to dig deeper into the numbers, but I’m guessing this has to do with fewer new construction homes coming onto the market.

There was a particularly steep drop in days on market (DOM) for Federal Way east of SR-99 (area 100) and a sharp increase in days on market for Federal Way west of SR-99. Again, I think this inconsistency has to do with new construction clearing the market (builders dropping prices to decrease finished inventory). It fits with the sharp drop in median prices for the areas.

All median sold prices have drifted down (some areas precipitously) with the exception of Edgewood-Milton-Fife which was skewed again by new construction sales. Builders in some cases have slashed prices by $100,000+ to move finished sitting inventory. These sales really skew the median price when there are relatively few total sales.

• Number of Active listings: King & Pierce County WA
  
• Number of Active listings: Edgewood, Milton, Sumner, NE Tacoma, & Federal Way WA

• Number of Sold listings: King & Pierce County, WA
• Number of Sold listings: Edgewood, Milton, Sumner, NE Tacoma & Federal Way WA

• Average days on market: King & Pierce County WA
• Average days on market: Edgewood, Milton, Sumner, NE Tacoma & Federal Way WA

• Months of housing inventory: King & Pierce County WA
• Months of housing inventory: Edgewood, Milton, Sumner WA
• Months of housing inventory: NE Tacoma WA
• Months of housing inventory: Federal Way (100) WA
• Months of housing inventory: Federal Way (110) WA

• Median sold price: King & Pierce County WA
• Median sold price: Edgewood, Milton, Sumner WA
• Median sold price: NE Tacoma WA
• Median sold price: Federal Way (100) WA
• Median sold price: Federal Way (110) WA