Is Tacoma, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Tacoma is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Tacoma has remained a Seller's Market.

Key Takeaway

Tacoma is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Tacoma, WA

How much do homes in Tacoma, WA cost?

Median Sold Price

$459,571

$309/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$2,660(-0.6%)

Key Takeaway

Homes in Tacoma have sold for 0.6% less than they did a year ago.

Summary: The median home sold price in Tacoma was $459,571 in March 2024, down 0.6% from last year, and the median price per square foot was $309.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $325K$330K
+1.5%
2 $389.8K$380K
-2.5%
3 $459.7K$450K
-2.1%
4 $544.1K$533.8K
-1.9%
5+ $675K$599.9K
-11.1%

Summary: Tacoma housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.5%, 2 bedroom homes decreased by 2.5%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes decreased by 11.1%.

Median Sold Price Compared To Nearby Cities

Tacoma
-0.6%
Fircrest
-0.6%
University Place
-1.2%
Fife
-11.1%

Housing Supply in Tacoma, WA

How many homes are available in Tacoma, WA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
817893+9.3%

Summary: The Tacoma real estate market had 893 homes for sale in March 2024, a 9.3% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 3437
+8.8%
2 161182
+13.0%
3 365385
+5.5%
4 197218
+10.7%
5+ 6071
+18.3%

Summary: The Tacoma housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.8%, 2 bedroom homes increased by 13%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 18.3%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
247257+4.0%

Asking Price vs. Sold Price

63 Homes Were Sold
Under Asking

69 Homes Were Sold
At Asking

125 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Tacoma, you could pay more than the asking price. 48.6% of homes here sold above asking price last month.

Summary: A total of 257 homes were sold or pending in Tacoma in March 2024, up by 4.0% month-over-month. Of the 257 sold homes, 25% were sold under asking, 27% were sold at asking, and 49% were sold over asking.

Days on Market for Tacoma, WA

How long does it take to sell a home in Tacoma, WA?

Average Sale Time

Mar 2023Mar 2024CHANGE
39 Days33 Days-15.3%

Summary: Homes in Tacoma had an average of 33 days on market in Mar 2024, down by 15.3% compared to last year.

Breakdown of Home Sale Times

183 Homes Were Sold
Under 30 Days

41 Homes Were Sold
In 30 - 90 Days

33 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Tacoma are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 257 homes were sold in Tacoma; 71% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 18 Days Ago

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