Here is the Tenino and Bucoda WA real estate market update for June 2015.
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
Sales Prices are stabilizing in the Tenino / Bucoda areas. Since the bottom of the market, home prices are up nearly 13%, which is in line with historic price increases.
With 6 months of inventory, Tenino / Bucoda is in a balanced market, where both buyers and sellers can realize their real estate goals.
The number of homes listing for sale has remained steady. No matter the market, sellers still need to continue to price their homes right. (Overpriced listings will still sit on the market, untouched by buyers, no matter the market.)
What does all this mean? Buyers are still enjoying historically low interest rates, even when it was predicted interest rates were going to rise by the end of 2014. That prediction didn’t materialize, and buyers still have time to lock in to a great rate. Current rates are at about 4% with VA and FHA buyers enjoying even lower rates.
Sellers who have been waiting to sell, can now be confident they CAN sell and in some cases, see a profit.
Sellers who purchased in 2005-2009 (the height of sales prices) are still waiting to see gains on average. The market has not yet recovered fully to recoup the fall of the market during those years. (To emphasize, these are county-wide averages.)
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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!