Here is the Tenino and Bucoda WA real estate market update for June 2014.
Why live in Tenino?
Tenino WA is located Southeast of Olympia off of Old Highway 99. There is some dispute how Tenino got its name; some say it is from a Native American word meaning “junction” or “meeting place;” others say it was named after the railroad engine numbered “10-9-0.”
Why live in Bucoda?
Bucoda WA is just south of Tenino. Bucoda’s name is clearly documented. It was named after three men in the town’s mining business: James Buckley, Samuel Coulter and John David. Bucoda was the location of the territory’s penitentiary in the late 1800s. In 1887, the penitentiary was relocated to Walla Walla, WA.
Both towns feature farming parcels as well as vintage homes in the downtown areas. Some residents have lake views and golf course views. Neighborhoods include Maytown, McIntosh Lake, McIntosh Ridge, Offut Lake and Scott Lake.
Map of Tenino WA:
Map of Bucoda, WA:
Tenino and Bucoda real estate market snapshot for the 2nd quarter 2014.
Average Sales Price for Q2 2014 is $216,783. This is up from last year at this time when the average sales price was $192,773.
Number of Home Sales is steady with 43 vs. 40 last year at this time.
Months of Inventory is in a balanced market with 6 months of inventory. This is the same for last year at this time.
How fast are homes selling in Tenino and Bucoda? On average over the last six months, homes were on the market for 89 days.
What does this mean for Sellers?
Sellers are feeling more confident in listing their homes for sale. Currently there are 91 homes listed for sale. Last year at this time there were 74 homes listed, so there is steady listing activity, but this also brings more competition amongst sellers.
Sellers still need to price appropriately. Right now the average list price is $260,124 with the average sales price of $216,783. In broad terms, sellers in Tenino and Bucoda are pricing a little high. But even in the hottest market, overpriced homes did not sell, and sellers need to price right for the market conditions.
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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 Tenino and Bucoda, 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 Tenino or Bucoda, 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 (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.
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!