Here is the North Lacey / Hawks Prairie WA real estate update for September 2014.
Why live in the North Lacey / Hawks Prairie WA area?
North Lacey is a fast-developing part of the county, with lots of residential and commercial new construction, the completion of Cabela’s, and other major retailers coming soon.
This area is preferred for northward I-5 commuters as one of the northern-most I-5 Exit 111 in Thurston County is easily accessed here. This area is approximately 20-30 minutes from JBLM (Joint-Base Lewis McChord).
North Lacey offers lots to do with several golf courses (one interspersed between Jubilee, a high-end 55+ community), Tolmie State Park, the Nisqually National Wildlife Refuge and the newer Regional Athletic Complex with soccer and baseball fields.
For the fall and winter, Club Oly Running is celebrating the extra hour with the time change with their “Turn Back the Clock Fun Run” on November 2, 2014. And on December 4, 2014, see the Lighting of the Christmas Trees at Huntamer Park.
Schools: Most residents are in the North Thurston School District.
Types of Homes: North Lacey offers lots of new construction, waterfront and golf properties, and mid-century homes. Neighborhoods include Beachcrest, Johnson Point, Meridian Campus and Nisqually. Search homes for sale in North Lacey / Hawks Prairie.
North Lacey / Hawks Prairie real estate market snapshot for the third quarter 2014.
Average home prices for North Lacey / Hawks Prairie are up from last year at this time. The average sales price for the 3rd quarter is $312,617. Last year at this time, it was $310,922. But you can see the growth from January 2012 to October 2014. In less than two years, the average sales price jumped up by $100,000!
The number of homes sold for North Lacey is stable (110 vs. 112 from last year). Part of the slowdown can be attributed to the increase in average home prices. But new construction is going strong with two Lennar plats, Rob Rice at Campus Highlands, Oakridge Homes and Quadrant.
This area of the county has been the only area to have weathered the recession due to its location to I-5, amenities, Jubilee and continued new construction plats.
The absorption rate is just in a balanced market but during the last winter months, was in a strong seller’s market. Buyers are not finding many choices in this area with low inventory, and are finding themselves competing for the same property. And this area is a little higher priced than other parts of the county.
How fast are homes selling in the North Lacey/Hawks Prairie area? Currently in 68 days! (This is the average days on market for homes that went under contract during the 3rd quarter 2014.)
What does this mean for Sellers?
Sellers in North Lacey / Hawks Prairie are continuing to do well due to the buyer demand for homes in this area as long as they price their homes appropriately with the current market conditions. No matter if it’s a “hot” seller’s market or a slow buyer’s market, sellers still need to price right in order to have a successful sale – even in North Lacey! And sellers in this area are finding they are competing with new construction.
Currently there are 129 homes listed for sale. Last year at this time, 117 sellers had their homes listed. The average list price is currently $363,455.
Overall, it’s been a long time coming, but the market has improved enough for many sellers in North Lacey to consider their next move.
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What does this mean for Buyers?
Buyers looking to buy in North Lacey / Hawk Prairie will need to act and act fast when they find the right home. 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 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 North Lacey / Hawks Prairie 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 North 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!