Here is the DuPont WA real estate market update for September 2014.
What’s it like to live in DuPont?
DuPont is a middle point between Tacoma and Olympia, and offers an excellent location for Joint-Base Lewis McChord (JBLM) commuters.
In 1994, Northwest Landing, a master planned community in DuPont, was developed on 3,200 acres. There are 50 acres of parks. Trails, sidewalks and bike lanes make it enjoyable to get out and enjoy the area or to play a round of golf. And you can leave the car at home as the city center of DuPont offers shopping, restaurants and other services within close proximity.
Schools: Many residents are in the Steilacoom Historical School District.
Types of homes: DuPont offers single family homes, townhomes, condos and 55+ housing options. Many of the homes were built by Quadrant, and offer low maintenance homes and yards. Many homes have alley-load garage access, which keeps the sidewalks open for pedestrians and encourages residents to enjoy their front porches and get to know the neighbors.
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DuPont real estate market snapshot for the third quarter 2014.
Average Sales Price for Q3 2014 is $315,271. This is up from last year at this time when the average sales price was $301,841.
Number of Home Sales is 29 vs. 39 home sales last year at this time.
Months of Inventory right now is in a buyer’s market (7 months of inventory). Last year at this time was a seller’s market with 3 months of inventory.
How fast are homes selling in DuPont? On average over the last six months, homes were on the market for 67 days, which is a little sluggish for DuPont.
What does this mean for Sellers?
Sellers in DuPont face competition. Currently there are 59 homes listed for sale. Last year at this time there were 35 homes listed, so there is an increase in listing activity, and sellers need to be competitive with having a clean, move-in ready home that is priced right.
Some sellers are realizing profits. Many homeowners have had to choose to rent instead of sell because they could not break even or see a gain. Sellers who purchased in 2006-2008 are having to wait in order to see a gain as that was the height of the DuPont market.
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What does this mean for Buyers?
Buyers looking to buy in DuPont will need to act and act fast when they find the right home, especially in the summer months, which is the height of the market for DuPont.
Pay attention to where interest rates are heading. Even though interest rates have remained low despite predictions, experts agree time is running out for buyers to take advantage of rates in the 4% range. Buyers will need to stay on top of where interest rates are heading.
Be prepared. Buyers need to be prepared financially to purchase a property. That means working with a quality local lender and getting pre-approved. Buyers also need to be prepared that a seller may not agree to pay a buyer’s closing costs.
Find DuPont WA Homes for Sale
Visit my website to search DuPont WA homes for sale, or sign up and get notified when DuPont 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 DuPont 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 (email@example.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.
Statistics not compiled or published by the Northwest Multiple Listing Service. Statistics compiled by Francine Viola from NWMLS data.
Originally posted and written by Francine Viola at her blog site, www.InTuneRealEstate.com where you can learn more about the real estate market and get tips and advice for a smooth real estate transaction!