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Tacoma Home Loans – Market Update

If you are interested in purchasing a home in the Tacoma area, now is the best time to get the process started! As experts on all things Tacoma home loans, we want to help you act now to get the most affordable financing options for your home.

The Tacoma real estate market is very cool right now, meaning the market is currently tipped heavily in the favor of buyers. A cooler market typically results in buyers have more options available to them during their home search as well as more bargaining power during negotiations.

As the market cools even more, you will begin to see there is less bargaining needed as home prices begin to decrease throughout the market. The median value of homes in the Tacoma area was most recently recorded at $261,100. Even as this figured has risen 11.2% over the last year, the median listing price now falls below the median value of homes in the area. To give you a better idea, when compared to the median home value of $261,100 we can see that median listing prices have been recorded at a significantly lower figure of $250,000.

In addition to being cool, the Tacoma real estate market has been given an overall market health score of 6.2 out of 10. This reaffirms the fact that now is the perfect time to buy. A cool but stable market means that, as a buyer, you will be able to find the perfect house at a more reasonable price and you will not have to worry that you are making an unwise investment into an unstable market.

We have broken down the local Tacoma area a bit more to give you a better idea of what the median home values look like in a few of the local neighborhoods:

Neighborhood Median Home Value
Northeast Tacoma $338,500
North End $334,800
West End $288,200
New Tacoma $231,800
Central $218,700
South End $195,600
Eastside-ENACT $193,300
South Tacoma $180,800

If you are looking to purchase a home in the area and would like more information on Tacoma home loans or the local real estate market, give us a call today! We can set up a no-obligation consultation to discuss your home financing options and show you how much you can be saving on the purchase of your new home!

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