Here is the East Lacey WA real estate market update for June 2014.
Why live in East Lacey WA?
Lacey residents take pride in their town! The city sponsors many events throughout the year to promote a sense of community with events such as the Lacey Spring Fun Fair at Saint Martin’s campus, the Lacey farmer’s market in the summer, as well as the Mushroom Festival in July!
East Lacey offers easy freeway access to I-5 for commuters and those needing to get to JBLM.
Schools: Most residents in the area are in the North Thurston School District.
Types of Homes: Neighborhoods include the desirable McAllister Park, Evergreen Heights, Tanglewilde, Lake Forest, Long Lake, Madrona Park, The Meadows, Thompson Place, Union Mills and The Seasons. There is a mix of new construction and mid-century homes in Lacey.
East Lacey WA real estate market snapshot for the second quarter 2014.
Average Sales Price for Q2 2014 is $204,054. This is down from last year at this time when the average sales price was $207,061.
Number of Home Sales is 59 vs. 67 last year at this time.
Months of Inventory is in a buyer’s market with 7 months of inventory. This is a change from last year when there were just 3 months of inventory, making it a seller’s market.
How fast are homes selling in East Lacey? On average over the last six months, homes were on the market for 66 days.
What does this mean for Sellers?
Sellers are feeling more confident in listing their homes for sale. Currently there are 98 homes listed for sale. Last year at this time there were 65 homes listed, so there is pent-up listing activity.
Sellers need to price appropriately. Right now the average list price is $219,824 with the average sales price of $204,054. In broad terms, sellers in East Lacey are pricing a little high. But even in the hottest market, overpriced homes did not sell, and sellers need to price right for the current market conditions.
Curious to know what your home is worth? Click here to learn more.
What does this mean for buyers?
Buyers shouldn’t shy away from “over-priced” listings. In looking at the data above, sellers are pricing higher than the average sales price. Don’t be afraid to do a little negotiating.
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 below 4%. 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 East Lacey 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 Lacey 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!