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 June 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

$470,006

$312/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$19,879(+4.4%)

Key Takeaway

Homes in Tacoma have sold for 4.4% more than they did a year ago.

Summary: The median home sold price in Tacoma was $470,006 in June 2024, up 4.4% from last year, and the median price per square foot was $312.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $325K$329.7K
+1.5%
2 $370.4K$390K
+5.3%
3 $447K$463.9K
+3.8%
4 $529.6K$537.8K
+1.6%
5+ $627.5K$600K
-4.4%

Summary: Tacoma housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.5%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes decreased by 4.4%.

Median Sold Price Compared To Nearby Cities

University Place
+4.9%
Tacoma
+4.4%
Fircrest
-0.6%
Fife
-5.6%

Housing Supply in Tacoma, WA

How many homes are available in Tacoma, WA?

Number of Homes For Sale

May 2024Jun 2024CHANGE
1,1031,151+4.4%

Summary: The Tacoma real estate market had 1,151 homes for sale in June 2024, a 4.4% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 3036
+20.0%
2 221229
+3.6%
3 511540
+5.7%
4 267266
-0.4%
5+ 7480
+8.1%

Summary: The Tacoma housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 3.6%, 3 bedroom homes increased by 5.7%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes increased by 8.1%.

Number of Homes Sold

May 2024Jun 2024CHANGE
335290-13.4%

Asking Price vs. Sold Price

79 Homes Were Sold
Under Asking

89 Homes Were Sold
At Asking

122 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. 42.1% of homes here sold above asking price last month.

Summary: A total of 290 homes were sold or pending in Tacoma in June 2024, down by 13.4% month-over-month. Of the 290 sold homes, 27% were sold under asking, 31% were sold at asking, and 42% 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

Jun 2023Jun 2024CHANGE
16 Days24 Days+49.7%

Summary: Homes in Tacoma had an average of 24 days on market in Jun 2024, up by 49.7% compared to last year.

Breakdown of Home Sale Times

224 Homes Were Sold
Under 30 Days

47 Homes Were Sold
In 30 - 90 Days

19 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 June 2024, 290 homes were sold in Tacoma; 77% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 7% 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 26 Days Ago

Newest Listings in Tacoma, WA

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