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Sun May 9, 2021, 06:41 PM

Transplants from King County and beyond are looking for larger living spaces in Tacoma and its burbs

New arrivals to Pierce County are chasing housing affordability, but that’s becoming increasingly hard to find as prices escalate and communities confront the prospect of gentrification.

Transplants from King County and farther are seeking larger spaces in Tacoma and its suburbs, spurring the city to pursue what it calls “gentle density.” Soaring home values have helped some homeowners lock in new wealth, while pushing other residents out of the market.

“We are now living in the future we were talking about 10 years ago when we said, ‘This is what will happen when we have a 1 million-person county,’” said Jasmyn Jefferson, principal managing broker for Windermere Professional Partners Tacoma Office. “It really is an imbalanced market for people in so many ways.”

Who’s buying


Data from the Northwest Multiple Listing Service show a sharp constriction in Pierce County’s housing supply over the last five years. New listings for single-family homes fell more than 8%, while sales of condominiums rose. For both housing types, the median price leaped around 50% between 2016 and 2020 to a median of $415,000. By March 2021, the most recent month of data available, it had climbed to $470,000.

Still, that’s a steep discount for King County residents, where median home prices closed out 2020 at $663,000.

https://www.bizjournals.com/seattle/news/2021/05/08/pierce-county-becomes-destination.html

Snohomish County is getting crazy too. There's a 3 bedroom 1 bath @ 1200 SQ feet a stone's throw from me asking $425,000. Another lot with a tear down house is asking $300,000.

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Reply Transplants from King County and beyond are looking for larger living spaces in Tacoma and its burbs (Original post)
Yo_Mama_Been_Loggin May 2021 OP
Dr. Shepper May 2021 #1
Dyedinthewoolliberal May 2021 #2
GP6971 May 2021 #3

Response to Yo_Mama_Been_Loggin (Original post)

Sun May 9, 2021, 07:32 PM

1. Grew up in T town

The house my mom bought in 1982 was ~25k, which was still a lot of money for a single parent. It is a small ugly house in a poorer neighborhood, but now worth ~325k. My sister is trying to find a home for ~600k north of Seattle. Keeps getting outbid. I don’t know how anyone could ever afford to live there. I know we can never go home.

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Response to Yo_Mama_Been_Loggin (Original post)

Sun May 9, 2021, 08:03 PM

2. I live in downtown Everett and rent.

When I retire I am looking at moving to a state (fortunately one I was born in) where I can afford to buy. It's insane............

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Response to Yo_Mama_Been_Loggin (Original post)

Sun May 9, 2021, 09:42 PM

3. Prices here is SW Pierce County

are crazy. A house up the street is going up for sale tomorrow and we're all curious about the asking price. According to Realtor.com, the median price per sgft in our little city is $222. And the trend is buyers are offering, on average, 4% over the asking price.

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