The median home sale price in Pierce County has climbed again, this time by nearly 10 percent compared to a year ago.
Last month, a median-priced home sold for $313,000, up from $285,000 a year ago.
Not all ZIP codes in the county are seeing the increase equally. An analysis of home sales data from Northwest Multiple Listing Services shows median sale prices skyrocketing in some areas and stagnating in others.
Most notable: Northeast Tacoma, with its sweeping views of Commencement Bay, the Olympic range and the Port of Tacoma.
Last month, the buyer of a median-priced home in ZIP code 98422 paid $417,500 — a staggering $122,500 more than she would have paid a year ago.
That’s nearly a 42 percent jump, the highest in Pierce County of any ZIP code in the span of a single year.
“There’s limited availability of these properties, particularly beautiful view properties,” said Bobbie Petrone Chipman, regional manager for real estate brokerage John L. Scott in Puyallup.
Still, homes are selling at a brisk pace, Chipman said, with sellers getting multiple offers.
“The market has gone from a frenzy to being a hot market,” Chipman said. “Due to the limited inventory, buyers are having to make selections based on what’s available rather than being fully based on their wants and dreams.”
The other ZIP codes where the median home price escalated significantly were:
▪ University Place, 98467
The median-priced home there sold for nearly $430,000 — nearly $70,000 more than a year ago. They’re east of Chambers Bay Golf Course and north of Lakewood.
▪ Steilacoom, 98388
A median-priced home sold in Steilacoom for $384,500. That’s $69,500 more than a year ago. The ZIP code boasts waterfront views of Puget Sound.
▪ Eatonville area, 98328
A median-priced home sold for $285,000, $68,000 more than a year ago. State Route 7 runs through the wide-ranging ZIP code, just west of Mount Rainier National Park on the south side of Pierce County.
▪ Gig Harbor area, 98335
This ZIP code has the highest median home sale price in the county compared to a year ago.
The median home sold for $513,500 last month. A year ago, that figure was $450,000. That’s more than a 14 percent increase.
Home prices dropped in only two ZIP codes: Roy and an area north of Gig Harbor.
In the Roy-area ZIP code of 98580, the median sale price dropped by $58,275 to just under $300,000. In ZIP code 98332, median prices dropped by $21,309 to $465,000.
ZIP codes that had fewer than 10 sales were not included in this analysis.
And for you keeping score, the median King County single-family home sold last month for $650,000, an even $100,000 more than a year ago. That’s more than an 18 percent jump.
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