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Average home values way up, despite last year’s decline

Post by David Wickert on July 1, 2008 at 10:47 am with No Comments »
July 1, 2008 10:47 am

As I reported last month, average residential property values fell last year across Pierce County. It’s the first time folks at the assessor-treasurer’s office can remember a decline in average residential values countywide.

But let’s keep things in perspective. Data from the assessor’s office show this year’s falling values are just a blip compared to the substantial gains in average Pierce County values over the last four years.

Here’s a spreadsheet that shows the average residential property values in Pierce County cities and school districts from 2004 to 2008, as determined by the assessor’s office. Don’t have Excel? Here are the five cities where average values grew the most during that four-year period:

Pacific 112%

Ruston 83%

Edgewood 71%

Wilkeson 69%

Gig Harbor 69%

Which city saw the lowest average increase in property values? The part of Auburn that lies in Pierce County saw average values rise "only" 34 percent.

Average values countywide fell just 1.3 percent in 2007. That doesn’t include some steep declines since the beginning of the year. But I feel a little richer anyway.

Pierce County
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