Here is the Yelm / Rainier WA real estate market update for September 2014.
Why live in Yelm?
Yelm is not only is close to JBLM’s East Gate, but offers affordable homes and is 15 miles from Olympia. Yelm has also been recognized as Tree City USA, and you’ll certainly see that as you tour its diverse urban forest of trees.
Yelm’s downtown core has experienced quite the growth in the last few years with major retailers, restaurants and parks that residents can enjoy. A new Wal-Mart Supercenter opened in 2007, and in 2010, a $9 million medical care center opened.
Buyers looking for larger parcels and horse properties will be able to find these just outside of downtown Yelm. The name Yelm is a Salish Indian word that means “heat waves from the sun.”
Why live in Rainier?
Rainier is 12 miles SE of Olympia and 6 miles SW of Yelm. Rainier is a small town with a population of 1.794 according the to 2010 Census. Rainier has the small-town charm with mid-century homes and homes on acreage.
Yelm and Rainier WA real estate market snapshot for the third quarter 2014.
Average Sales Price for Q3 2014 is $199,606. This is down slightly from last year at this time when the average sales price was $210,007.
Number of Home Sales is steady with 144 vs.133 last year at this time.
Months of Inventory is in a balanced market with 4 months of inventory. This is an improvement from last year when there were 5 months of inventory.
How fast are homes selling in Yelm and Rainier? On average homes were on the market for 83 days.
What does this mean for Sellers?
Sellers are continuing to list into the fall and winter. Currently there are 169 homes listed for sale. Last year at this time there were 179 homes listed, but the listing activity is steady and stable, which brings a lot of competition for sellers.
Sellers still need to price appropriately. Right now the average list price is $226,801 with the average sales price of $199,606. In broad terms, sellers in Yelm and Rainier 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 in the 4% range. 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 Yelm and Rainier 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 Yelm or Rainier 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!