Here is the Boston Harbor WA real estate market update for June 2014.
Why live in Boston Harbor?
Boston Harbor is a desirable area of Thurston County and offers residents lots of waterfront activities including Priest Point Park and Boston Harbor Marina as well as a direct route to downtown Olympia.
Other downtown waterfront activities include the Hands On Children’s Museum, Swantown Marina, the Farmer’s Market and more, which are just a walk or a bike ride away for many residents in the southern part of Boston Harbor.
Schools: Most residents are in the Olympia School District and the North Thurston School District.
Types of Homes: Boston Harbor has a mix of waterfront homes and condos, mid-century and vintage homes. Search Boston Harbor homes for sale. Neighborhoods include Fishtrap, Gull Harbor, the Henderson Inlet and South Bay.
Boston Harbor Real Estate Market Snapshot for the second quarter 2014.
Average Sales Price for Q2 2014 is $369,023. Last year at this time, it was higher at $384,579 however the few number of homes that sold skew this perception.
Number of Home Sales is 20 vs. 14 last year at this time.
Months of Inventory has improved for sellers going from 9 months of inventory down to 5 months of inventory. This market has moved from a buyer’s market to a balanced market, which is a good sign.
How fast are homes selling in Boston Harbor? On average over the last six months, homes were on the market for 87 days.
What does this mean for Sellers?
Sellers are getting back into the game as right now there are 37 homes listed for sale. Last year at this time, there were 28. The market is steadily improving for sellers to have confidence that they can sell their home and get a return so they can consider their next move.
Interest rates have remained incredibly low to much surprise, so sellers are able to attract a wider buyer-audience and can take advantage of these low rates when they become buyers. But experts are warning that time may be running out for these low interest rates.
Curious to know what your home is worth? Click here to learn more.
What does this mean for Buyers?
Buyers should act now, especially in the Boston Harbor area. The current average list price in Boston Harbor is $308,013. The average sales price is $369,023. Usually the average list price is much higher than the average sales price, so buyers can find good deals in Boston Harbor right now!
Pay attention to where interest rates are heading. Even though interest rates are still historically low (under 4.5%), lending experts are anticipating interest rates jumping up by the end of 2014.
Be prepared. Buyers need to be prepared financially to purchase a property. That means working with a quality local lender and getting pre-approved so that you are ready to make an offer when you find the right house. Secondly, buyers need to be prepared that a seller may not agree to pay a buyer’s closing costs.
Find homes for sale in Boston Harbor, WA.
Visit my website to search Boston Harbor, WA homes for sale, or sign up and get notified when homes that meet your criteria come up on the market. Be the first to know of a new listing! Also click here to learn what NOT to do when buying a Boston Harbor, WA home.
If you’d like to learn more about how your home fits into this market and would like a personalized home evaluation, feel free to email me (francine.viola@cbolympia.com) or call me today at (360) 359-0689. With no obligation, I can give you straight-forward, fact-based information so you can decide if the time is right to make your next real estate move.
Click here to see the market updates for West Olympia, WA.
Click here to see the market updates for North Olympia, WA.
Click here to see the market updates for South Olympia, WA.
Click here to see the market updates for East Olympia, WA.
Click here to see the market updates for other areas of Thurston County.
Local statistics compiled by Francine Viola from NWMLS data. Statistics not compiled or published by NWMLS (Northwest Multiple Listing Service).
Originally posted and written by Francine Viola at her blog site: www.InTuneRealEstate.com, where you can learn more about the real estate market in Thurston County and get tips and advice for a smooth real estate transaction!