- This Bank Foreclosure sold for $55,000
For me and almost everyone I know, this was the week of the cold. Myself, my friends, my clients, we all coughed and blew our noses through this week. Fortunately, that didn’t stop work from getting done. My clients wrote offers on 2 houses this week, and it looks like the rest of Tacoma found time to do some business as well.
24 Houses and 5 Condos sold this week! They ranged in price from $55,000 for this bank owned tear-down to $519,125 for a 5 bedroom 3 bath 3,711 square foot house with a view of the Narrows Bridge.
The houses averaged 159 days on the market. The condos averaged 96 days on the market. Both houses and condos sold for 94% of their currently listed price. The median sold price on houses was $207,000 and $222,000 for condos.
What I find most interesting is that 6 of the properties sold this week were bank owned forclosures and 2 were short sales. Both of the contracts I wrote for clients this week were for foreclosures. That was one third of all the sales in Tacoma this week. The high number of foreclosures is one of the biggest factors in the lower prices we are experiencing- so getting those sold and off the market is both good for communities (who likes living next to a foreclosed house?) and also good for helping us return to a more balanced marketplace for houses.
Remember that this is JUST for the City of Tacoma, and JUST for this week. Stay tuned for New Years Eve, when I break down the stats for the entire year!
