Here is the Delphi / Black Hills WA real estate market update for June 2014.
Why live in the Delphi / Black Hills area?
Delphi / Black Hills residents are in an area of homes on larger parcels of land. Buyers can find their coveted horse properties here! There are also some high-end neighborhoods including Field of Dreams and Cougar Ridge as well as the neighborhoods of Alpine Hills, Black Lake, Littlerock, Mud Bay, and Waddell Creek. This area also includes part of the Capitol State Forest.
Schools: Many residents in this area are in the Tumwater School District.
Types of Homes: There are a wide variety of choices between homes on a golf course, horse properties and larger acreage homes with mountain views. Buyers can also find unique, custom-built homes along with manufactured homes and homes in subdivisions. Search homes for sale in the Delphi / Black Hills area.
Delphi / Black Hills Real Estate Market Snapshot for the second quarter 2014.
Average Sales Price for Q2 2014 is $312,579. This is a nice increase from last year at this time when the average sales price was $288,357.
Number of Home Sales is 31 vs. 25 last year at this time, also a positive trend.
Months of Inventory has remained in a balanced market at 4 months of inventory now and was 4 months for last year at this time.
How fast are homes selling in the Delphi/Black Hills area? On average over the last six months, homes were on the market for 57 days.
What does this mean for Sellers?
Sellers are feeling more confident in listing AND selling their homes AND seeing a return. Right now there are 44 homes currently listed for sale. Last year at this time there were 31. The average listing price is $351,782.
Interest rates are still low and buyers can still take advantage of purchasing a pricier home for a lower monthly payment, but time is running out. Sellers need to price right in order to sell and then take advantage of these low interest rates if they choose to buy again.
Curious to know what your home is worth? Click here to learn more.
What does this mean for Buyers?
Pay attention to where interest rates are heading. Lenders are predicting interest rates at 5% or more by the end of 2014. 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.
Visit my website to search Delphi / Black Hills, 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 Delphi / Black Hills, 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.
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!