DAVE ROSS

Pierce County becoming ‘darling’ of Puget Sound housing market

Jul 9, 2019, 3:14 PM | Updated: Jul 16, 2019, 11:06 am
tacoma, geographic insults, Pierce County, i-5...
The Tacoma Dome. (File, MyNorthwest)
(File, MyNorthwest)

While the King County housing market continues to favor buyers well into the summer, it’s our southern neighbor that’s quickly become the place to live, with one broker labeling Pierce County the “darling of the Puget Sound real estate market.”

Former Seattleites braving commute for nation’s hottest housing market

“The secret is out about Pierce County,” Allen Realtors President Mike Larson agreed in a recent news release. “You can buy twice the house for about half the price. You just have to be willing to deal with the traffic if you work north or south of here.”

The resulting buying spree in Pierce County had median prices for residential homes up by a whopping 7.26 percent year-over-year in June. Even so, that number sits at just $376,000, just over half of King County.

Meanwhile, the market in King County remains intriguing for one key reason.

“What I find interesting is on pricing we are still below the prices we saw a year ago in King County by almost 2 percent — we’ve seen a gradual softening in the last few months,” Windermere Chief Economist Matthew Gardner told KIRO Radio’s Dave Ross.

Despite that drop, Gardner notes that it’s still Pierce County that “screams affordability” right now. That’s had it supplanting Snohomish County as the prime destination for home buyers.

“Essentially people used to go north to Snohomish County,” Gardner noted. “That market is just fairly balanced right now — prices really aren’t growing but they’re not contracting either. But we are seeing a significant increase in prices down in Pierce County because of housing costs.”

When measuring Pierce County’s market against King County, the differences are even more stark.

Puget Sound housing market continues to favor buyers in 2019

“For years, King County has been a bit like a top fuel dragster — high performing, thrilling, but maybe a bit temperamental. It got the headlines and values skyrocketed, but now it’s experiencing a bit of a hangover. Pierce County’s market is more like a diesel truck — steady, consistent, and less prone to dramatic market changes,” Larson described.

Listen to the Seattle’s Morning News weekday mornings from 5-9 a.m. on KIRO Radio, 97.3 FM. Subscribe to the podcast here.

Dave Ross on KIRO Radio 97.3 FM
  • listen to dave rossTune in to KIRO Radio weekdays at 5am for Dave Ross on Seattle's Morning News.

Dave's Commentary

Dave Ross

car tabs, Orting...
Dave Ross

Ross: Did you vote for I-976 car tab cuts in 2019? Wish granted

While a vaccine mandate cost the ferry system 7% of its staff, let’s remember this is happening in a state that was ready to impose bigger cuts two years ago.
22 hours ago
Vaccine...
Dave Ross

Ross: May we live long and prosper with our vaccine choices

Talk show host Dennis Praeger decided to put it all on the line to prove he’s right about vaccines.
2 days ago
Flu vaccine...
MyNorthwest Staff

A new ‘universal’ flu-COVID shot on the horizon, says local MD

Mercer Island’s Dr. Gordon Cohen discusses how future iterations of the COVID mRNA vaccine could also treat seasonal flu.
3 days ago
Crypto power plant...
Dave Ross

Ross: The troubling downside behind megawatts of crypto-power

Power plants feeding Bitcoin miners will create jobs, but they’ll do it by pumping CO2 into the air in service of creating more of the currency.
3 days ago
unemployment...
Dave Ross

Ross: The real reason people don’t want to return to work

The extra unemployment benefits were cut off in September and most states elected not to continue them. Yet, millions of workers are still holding out.
6 days ago
Shatner, space...
Dave Ross

Ross: Shatner’s emotional response over trip to space exactly what we needed to hear

Space travel is a trip that every billionaire who thinks he’s a master of the universe needs to take as soon as possible.
7 days ago

Sponsored Articles

...

Medicare open enrollment for 2022 starts Oct. 15 and SHIBA can help!

Washington State Office of the Insurance Commissioner SPONSORED — Medicare’s Open Enrollment Period, also called the Annual Election Period, is Oct. 15 to Dec. 7. During this time, people enrolled in Medicare can: Switch from Original Medicare to a Medicare Advantage plan and vice versa. Join, drop or switch a Part D prescription drug plan, […]
...

How to Have a Stress-Free Real Estate Experience

The real estate industry has adapted and sellers are taking full advantage of new real estate models. One of which is Every Door Real Estate.
...
IQ Air

How Poor Air Quality Is Affecting Our Future Athletes

You cannot control your child’s breathing environment 100% of the time, but you can make a huge impact.
...
Swedish Health Services

Special Coverage: National Prostate Cancer Awareness Month

There are a wide variety of treatment options available for men with prostate cancer. The most technologically advanced treatment option in the Northwest is Stereotactic Body Radiation Therapy using the CyberKnife platform.
...
Marysville Police Department

Police Opportunities in a Growing, Supportive Washington Community

Marysville PD is looking for both lateral and entry level officers. Begin or continue your career in law enforcement for a growing, supportive community.
...
Comcast

Small, Minority-Owned Businesses in King County and Pierce County Can Now Apply For $10,000 Relief Grants Through Comcast RISE

Businesses in King County and Pierce County can apply beginning on October 1, 2021, at www.ComcastRISE.com for a chance to receive a $10,000 relief grant.
Pierce County becoming ‘darling’ of Puget Sound housing market