Indian Summer Golf & Country Club, Olympia WA – Real Estate Update August 2013
There was a recent article in Fiscal Times that said golf course homes are in less demand than in the past. That can’t be further from the reality of what is happening in Indian Summer Golf & Country Club neighborhood in Olympia, WA for 2013.
Here is the August 2013 real estate market update for Indian Summer Golf & Country Club by Francine Viola of Coldwell Banker Evergreen Olympic Realty.
This year, the big story for Indian Summer is how quickly many homes sold.
You may have heard the term, “pent up demand.” That is what the Indian Summer neighborhood has experienced lately. Pent up demand means that for several years, Indian Summer homeowners have held off in listing and selling their homes, waiting for the market to improve. Buyers have been waiting to buy an Indian Summer home. What has happened in 2013 is sellers have bravely listed and those patient buyers came out and went on a shopping spree.
Here are the quick closings some Indian Summer sellers experienced in 2013:
Sold in 21 days – 6939 Fairway Lane SE – 1,682 SF, one-story townhome on the golf course – sold for $300,000.
Sold in 54 days – 6107 Ashbourne Lane SE – 2,765 SF, 2-story home – sold for $335,000 (above asking price).
Sold in 28 days – 6011 Ashbourne Lane SE – 2,554 SF, 2-story home – sold for $359,000 (at asking price).
Sold in 6 days – 4515 Prestwick Lane SE – 2,360 SF, 2-story home on the golf course – sold for $359,000 ($3,000 less asking price).
Sold in 58 days – 3845 Prestwick Lane SE – 2,491 SF, one-story home on the golf course – sold for $370,000.
Sold in 11 days – 3812 Kinsale Lane SE – 2,215 SF, one-story home on golf course – sold for $420,000.
Sold in 10 days – 4005 Muirfield Lane SE – 3,003 SF, 2-story home – sold for $515,000.
Sold in 47 days – 6531 Turnberry Lane SE – 4,021 SF, 2-story home on the golf course – sold for $695,000 (just near the asking price of $699,900).
This list represents the home sales that sold in 60 days or less, which is still very fast. A normal, balanced market would have homes selling between 90 – 120 days.
Can you guess how many days LAST YEAR Indian Summer sellers saw a sale?
362 days! (No wonder why Indian Summer sellers were hesitant to list their homes!)
On average, between January to August 2012, it took nearly one year for a seller in Indian Summer to reach a sale. And there were just 9 homes sales during this time period last year. This year, Indian Summer has had 13 home sales year to date, and the average days on market is 103.
What do these quick home sales have in common?
All of them were priced right. Just a few sold for a small percentage less than the asking price. And they offered amenities buyers are looking for such as one-level homes or main floor master bedrooms, extra RV parking/garage space, etc. But price was a key factor.
Even though 2013 has become the year Indian Summer has turned the corner, sellers still need to price appropriately within the market data. I agree that there is room to push the price higher in our current market environment than in the past but sellers still need to be realistic with the current market conditions.
Currently there are 11 Indian Summer homes for sale, ranging in price from $249,000 to $574,500. (Townhomes, condos and presale new construction homes are excluded.)
If you’d like to be notified when new Indian Summer listing come up, visit my website and sign up. This is a great service to have so you are the first to know of a new listing!
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 (firstname.lastname@example.org) 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.
Statistics not compiled or published by the Northwest Multiple Listing Service. Statistics compiled by Francine Viola and Coldwell Banker Evergreen Olympic Realty, Inc. from NWMLS data.