Summit Lake / Steamboat Island WA real estate market update June 2014

Here is the Summit Lake / Steamboat Island WA real estate market update for June 2014.

Why live in Summit Lake / Steamboat Island areas?

Northwest Thurston County not only features the major areas of Summit Lake and Steamboat Island but also Carlyon Beach, Gravelly Beach, Hunter Point, Madrona Beach, and Oyster Bay.

For water views and beach access on a budget (at least less expensive than West Olympia!), you’ll want to check out the Northwest section of Thurston County.  People may look at a map and think it is too far from Olympia, and that’s just not the case.  You can get into town in about 15 minutes yet you feel far and isolated.

Home buyers can not only find beach properties but also horse properties in this area of Thurston County.  Mini-farms are sprinkled throughout, and residents raise animals such as horses, cows, sheep, goats and alpacas to name a few!

Take Steamboat Island Road NW out to the very end, and you’ll find Carlyon Beach.  Cross the bridge and you’ll be on Steamboat Island.  Steamboat Island has approximately 60 homes.

Schools:  The school district is Griffin School District.

Types of homes:  Most homes are established with very little new construction.  Mobile homes and single family home are predominate with some having water views and/or acreage for larger animals.  Search Summit Lake / Steamboat Island homes for sale.

Summit Lake / Steamboat Island WA real estate market snapshot for the second quarter 2014.

Average Sales Price for Q2 2014 is $344,423.  Last year at this time, it was $286,670 however the few sales skew this data.

Number of Home Sales is 28 vs. 23 last year at this time, which is good to see.

Months of Inventory has improved for sellers going from 11 months of inventory down to 7 months of inventory.  This market is improving and heading for a balanced market.  This area has seen tremendous recovery over the last two years, where at one time, there was 22 months of inventory.

How fast are homes selling in the Summit Lake/Steamboat Island area?  On average over the last six months, homes were on the market for 118 days.

What does this mean for Sellers?

Sellers are feeling confident about listing their homes for sale.  Right now, there are 72 active listings.  Last year at this time, there were 78 however there have been more sales in 2014.  The average list price is $469,875.

Curious to know what your home is worth?  Click here to learn more.

What does this mean for Buyers?

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.

Find homes for sale in the Summit Lake, Steamboat Island area.

Visit my website to search Summit Lake, Steamboat Island, 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 Summit Lake / Steamboat Island, 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 (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.

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!

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