Continued improvement for the DuPont WA Real Estate Market for November 2012 is poised for a strong start in 2013. The key factors are steady home sales prices, low inventory, and continued low interest rates on mortgages.
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 throughout this tumultuous real estate roller coaster ride!
Average Homes Price in DuPont WA
Last November 2011, the average home price was $257,216.
This November 2012, the average home price climbed up to $302,369.
But overall, the past five years have been the most volatile but relatively DuPont’s average home prices have remained stable.
Inventory Levels Shrinking
The number of homes available for sale has decreased 47% from this time last year. What makes this number even more significant is that DuPont did not see its historical surge in inventory in the summer months. In June 2011, there were 50 homes on the market; for June 2012 this number was cut by over half to just 24 homes available for sale. As of November 2012, there are 19 homes for sale. In November 2011, there were 28 listings.
Low Interest Rates
You may be tired of hearing about low interest rates since rates have been historically low for a couple of years now. When interest rates began to fall and hover around 4%, we didn’t think it could fall any farther. My clients today now are getting between 3% and 3.25% interest rates. This is still great news for buyers. But the biggest influence on the real estate market recovery is the price of homes is more affordable than they have been in the past five years.
DuPont Real Estate Summary Report for November 2012
Average home sales price: $302,369
Number of homes for sale: 19
Number of homes sold: 8
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!
To find out what your home is worth in the current DuPont real estate market, email or call me today at (360) 359-0689.
Wishing you a very Merry Christmas and a terrific New Year!