Indian Summer Golf & Country Club, Olympia WA real estate market report April 2014

Here is the Indian Summer Golf & Country Club, Olympia WA real estate market update as of April 2014.

The Indian Summer residential community is a gated community that surrounds the Indian Summer Golf and Country Club, a private golf club.  There are approximately 500 single family homes, condos and townhomes.  Many homes enjoy wonderful golf course and Mount Rainier views, and views of the Nature Preserve.

The community features its own gate guard where visitors can check in, miles of sidewalks throughout to take a stroll through the neighborhood, and walking trails in the Nature Preserve.

To learn more about Indian Summer, click here.

Many residents are in the North Thurston School District and the Tumwater School District.

MARKET SNAPSHOT:

Average Sales Price in 2014 Q1:  $356,979   7 homes sold

Average Sales Price in 2013 Q1:  $281,800   2 homes sold

Currently there are 16 homes listed for sale, with many of these listings being for unbuilt new construction sites.

For 2014, Indian Summer has exceeding its average of 2 home sales per months with 7 home sales in the first quarter.  Home prices are stabilizing, and fewer homes are being sold as short-sales.

WHAT DOES THIS MEAN FOR SELLERS?

The bottom has hit and we are moving passed the lowest point of the market.  This doesn’t mean prices will skyrocket upward.  The market still has many months of recovery but the downward spiral has stopped.

Sellers still need to price appropriately with the market.  No matter if it’s a “hot” seller’s market or a slow buyer’s market, sellers still need to price right according to the conditions of the market in order to have a successful sale.

Less inventory.  This is good for sellers as there is less for buyers to choose, and we have seen multiple offer situations with several buyers competing for the same property.

Overall, it’s been a long time coming, but the market has improved enough for many Indian Summer sellers to consider their next move.

WHAT DOES THIS MEAN FOR BUYERS?

Buyers need to act – no more fence-sitting.  The luxury of waiting and watching the market are over for buyers.  With less inventory and more buyers entering the market, buyers may find themselves competing for a property.

Pay attention to where interest rates are heading.  Even though interest rates below 6% are considered very low, many buyers over the last five years have enjoyed rates at half that – 3% to 4%.  Lenders are anticipating interest rates of 5% by the end of 2014.

Be prepared.  Buyers need to be prepared financially to purchase a property.  That means working with a quality local lender and getting pre-approved so that you are ready to make an offer when you find the right house.  Secondly, buyers need to be prepared that a seller may not agree to pay a buyer’s closing costs.

Find homes for sale in Indian Summer.

Visit my website to search Indian Summer 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 an Indian Summer 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 (francine.viola@cbolympia.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.

Click here to see the market updates for other areas of Thurston County.

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