December’s real estate market for DuPont WA ended on somewhat of a boring note, as it was similar to the last 12 months! For 2013, we should expect to see a bit of the same with better sales numbers predicted in the new couple of months. This is due to continued low interest rates, low inventory and continued affordable home prices.
Here is this month’s real estate market report for DuPont WA in Pierce County by Francine Viola of Coldwell Banker Evergreen Olympic Realty.
DuPont Real Estate Market
DuPont WA, a desirable location for JBLM commuters, has remained a steady corner of the Pierce County market. For December, the average sales price in all of Pierce County was $232,956 compared to DuPont’s average home price of $243,069.
Sellers Still Need to Price Correctly
Even though we are seeing improvements and stabilization in the DuPont real estate market, buyers are not wasting their time looking at over-priced listings. Because inventory levels are shrinking, buyers cannot afford to risk taking the time of considering an over-priced listing for fear of missing out on a home they can purchase. In fact, December was a dismal month for sales – only 4 sales.
Good News for Sellers
The rental market has been a “hot” rental market for the last couple of years. But with buyer confidence returning and with even lower interest rates today versus last year, renters are seeing that it is cheaper to buy than to rent.
Caution for Buyers
With fewer homes on the market, well-priced listings will be snapped up quickly, or may have multiple offers. Buyers who are dragging their feet and/or who are making “low ball” offers will be missing opportunities. Buyers – make sure your Realtor is providing you with the sales data to know if a listing is priced well or not.
Inventory Levels Still Shrinking
With short-sales and bank-owned properties making up a significant percentage of all homes for sale, that shrinks the inventory levels even more for buyers who cannot or will not tolerate the uncertainty of buying a short-sale or a bank-owned home.
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. This is a great service to have especially since inventory numbers are dropping. Be the first to know of a new listing!
Sellers, to find out what your home is worth in the current DuPont real estate market, email or call me today at (360) 359-0689.