It’s been a couple weeks since we reviewed the Downtown Tacoma Condos that have sold, so here you are. There were 9 condos that closed, 6 of those I already wrote about earlier this week located at The Esplanade.
Selling like (price reduced) hot cakes.
CitySteps continued the great townhouse blowout with 2 sold this week, both for $219,990. They were units #105 & 106 2 bedroom, 2 bathrooms, with 1113 square feet. One was originally listed at $259,990.
The final condo was over with Survon at Marcato, unit #319. A 2 bedroom, 2 bathroom, 1040 square foot that was originally listed at $369,000. It sold for $309,000. For information on Marcato check out another of last weeks posts here.
I believe it is worth mentioning that right now there are 225 condos listed for sale in 98402, 98405, & 98403. There are 24 that are pending sale. That gives us an 11% sales ratio- which is DEFINETLY a buyers market. If you want a good explanation of a sales ratio, I recommend reading Tacoma Realtor Tom Hume’s post on the topic. He explains it well. Basically, less that 50% is a buyers market, more than 50% is a sellers market.
It is also worth mentioning that in the past 2 weeks int the same downtown area, 1 condo listing was cancelled, 1 was temporarily taken off the market, and 4 expired. That’s one way to get the inventory down.
