Mar 17, 201705:54 PMBlog

Competition pushing homes above list price in Tacoma

Mar 17, 2017 - 05:54 PM

Competition in the housing market is fierce in the City of Destiny.

Tacoma stands fifth in the nation in homes selling above list price, according to new numbers from Seattle-based real estate brokerage Redfin. The largest city in the South Sound saw 36.3 percent of houses sold above list, just shy of Seattle in fourth at 49.3 percent.

San Jose, Calif., saw the most houses selling above their original listed price, with 63 percent of homes doing so. San Francisco (59.1 percent) and Oakland (49.3 percent) rounded out the top five.

Across the country, home prices rose 7.2 percent in February, marking 60 consecutive months of annual increases since home prices bottomed out in early 2012. The market is still hamstrung by an inventory shortage nationwide, with the number of homes for sale falling 12.9 percent year over year in February.

            

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