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TACOMAWEEKLY NEWS FREE • SUNDAY, JUNE 2, 2019
WWW.TACOMAWEEKLY.COM
TACOMA IS THE NATION’S HOTTEST HOUSING MARKET
Homebuyers priced out of Seattle, 35 miles to the north, are driving up demand, competition and prices in Tacoma BY DANA OLSEN Tacoma is the nation’s hottest housing market this spring. The Tacoma metropolitan area topped the charts in mid-May, when 50.2 percent of recently sold homes went under contract within two weeks – a higher share than any other metro – with the typical home finding a buyer in just eight days, the shortest median time on market nationwide. What is more, Tacoma was left with just 1.3 months of supply – less than any other metro – as of the first week of May. Measured by dividing the total number of homes for sale by the number sold in a given period, months of supply indicates whether the housing market favors buyers or sellers, with any value below six months typically
REDFIN
A sign of the hot housing market in Tacoma is that 49.7 percent of homes sold above asking price for the four weeks ending May 19, more than any metro except San Francisco (66.7 percent), Oakland (58.7 percent), and San Jose (54.5 percent).
representing a seller’s market. Another sign of the hot hous-
ing market in Tacoma is that 49.7 percent of homes sold above ask-
ing price for the four weeks ending May 19, more than any metro except San Francisco (66.7 percent), Oakland (58.7 percent), and San Jose (54.5 percent), which also happen to be the three most expensive metros in the country by median home sale price. Tacoma homesale prices were up 6 percent year over year to $370,000 in mid-May, as sales fell 5.5 percent and inventory dropped 12.5 percent. Local Redfin agents say the rise in homebuyer interest in Tacoma is largely a result of homebuyers being priced out of Seattle, which saw its median sale price surge to $595,000 in mid-May. “Ordinary homebuyers have gotten fed up with home prices in Seattle, largely because most people are not able to compete with highly paid u See HOUSING / page 2
CHI FRANCISCAN SERVES UP HEALTHY FOOD AND WELLNESS TIPS AT POINT RUSTON PUBLIC MARKET CHI Franciscan and Point Ruston are proud to announce that CHI Franciscan’s Northwest Healthy campaign, an ongoing commitment to nurture the community’s well-being, will be the lead sponsor of The Public Market at Point Ruston. The partnership between CHI Franciscan and Point Ruston will support the vibrant new public market and provide ongoing wellness education and interactive opportunities to live Northwest Healthy lives. The Public Market at Point Ruston will feature two prominent Northwest Healthy spaces, including the Northwest Healthy Demonstration Kitchen and the Northwest Healthy Event Kitchen. Both kitchens will provide interactive cooking experiences inside the 30,000 square foot bustling retail space, housing locally sourced fresh meats, produce, and year-round culinary experiences. “We are committed to our mission of creating healthier communities by supporting programs
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and resources that encourage a healthy lifestyle,” said Ketul J. Patel, CEO of CHI Franciscan. “Our partnership with Point Ruston, including our two Northwest Healthy Kitchens, will provide our neighbors and families with an environment that promotes incorporating healthy habits into their daily lives.” The Northwest Healthy Demonstration Kitchen will provide an open, inviting space for local market vendors to showcase their products, work with local chefs, interact with people, and allow shoppers to watch, ask questions, and get recipes. The Northwest Healthy Event Kitchen will offer a
full kitchen, open seating area, and the ability to transform the space for community and private meetings and events. “Fresh food is an u See MARKET / page 2
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