The Pierce County housing market has been on quite a ride over the past few years. From the frenzy of 2021 bidding wars to the slowdown that followed rising interest rates in 2022–2023, homeowners and buyers alike have been asking the same question: where are we now, and what’s next? Here’s a data-driven look at what the numbers are telling us for August 2025, and how history helps us predict the short-term future.
In August, the median resale home price in Pierce County landed around $590,000, just slightly higher than last year (+1.7%). East Pierce County, which includes Bonney Lake, Orting, and surrounding communities, came in higher at about $616,000 (+2.7% year-over-year). That’s a big change from the double-digit jumps of 2020 and 2021. Instead, prices today are essentially holding steady in the high $500Ks to low $600Ks. Price per square foot tells the same story: up just 1–2% over the past year.
One of the biggest shifts is the number of homes for sale. Pierce County had 2,474 homes on the market in August, up 24% from the same time last year. East Pierce saw an even bigger jump—34% more listings than a year ago. Even with this growth, we’re still below what would be considered a “balanced” market. A healthy balance is closer to 5–6 months of supply, while Pierce is sitting at about 2.5 months. That means sellers still hold some leverage, but buyers finally have more breathing room and options.
Homes are taking longer to sell than they did in recent years. The average time on market was 36 days in Pierce and 39 days in East Pierce—up about a week from last year. Sellers also aren’t commanding the same bidding wars. On average, homes sold for 97.5% of their original asking price in Pierce (98% in East Pierce). That’s still strong, but a noticeable step down from the 105%+ of list price we saw in the heat of 2021. Buyers are choosier, too. It took 11–12 showings on average to get a home under contract this August, compared to fewer than 10 at the peak of the market.
Housing markets always move in cycles. In Pierce County since 1980, we’ve seen periods of rapid growth followed by adjustments. The 1980s had high mortgage rates that cooled demand. The 2000s ended with the Great Recession crash driven by oversupply and foreclosures. And the 2010s were a steady recovery leading into the pandemic surge. What’s different today? We don’t have oversupply or mass foreclosures. Instead, we have modest inventory growth and stable prices. The data suggests we’re coming out of the “cooling” phase that started in 2022 and are setting the stage for the next period of growth.
Here’s what to expect as we head into fall and winter: Prices: Likely to remain flat, with a small chance of dipping 1–2% through early 2026. Inventory: Will shrink seasonally through winter, since fewer sellers list during the holidays. Market time: Could stretch into the 40-day range as buyers take their time. Sales activity: A little slower through the winter, then picking up again by spring. By spring 2026, if mortgage rates ease even slightly, we could see pent-up buyer demand return and competition heat back up.
The Pierce County market isn’t crashing—it’s balancing. Sellers still have an edge, but buyers have more room to negotiate than they’ve had in years. For those thinking about making a move, the numbers show we’re at a pivot point: the correction phase is winding down, and the groundwork for the next growth cycle is being laid. If you’re considering buying or selling in Pierce or East Pierce County, this is the time to plan your strategy. A balanced market like this gives both sides opportunities, whether that means negotiating better terms as a buyer or positioning your home smartly as a seller.
