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Real Estate Inventory in Olympia WA July 2016

The discussion of inventory these days permeates the real estate headlines.  There seems to be either too much inventory or not enough.  Right now, there's not enough.
 
Starting off the summer in Olympia WA, the real estate inventory levels are low even though we have had more listings come on the market.  But these new listings have been snapped up by buyers, who were ready and waiting.
 
 
A few stats:
 
In June 2015 - 545 new listings put on the market. In June 2016 - 687 new listings
More listings but also more buyers. The standing inventory in the Olympia WA area is 10% lower than last year.
In the last 20 years, 2016 is the 4th lowest level of inventory.  Only 2003 - 2005 had lower levels of summertime inventory.
 
 
It can be brutal out there for buyers.
Most buyers know or have learned the hard way, that being prepared and being able to make decisions quickly are important in securing a home.  Prepared buyers are pre-approved with a lender.  And if buyers need to sell in order to buy, they have also taken steps to prepare their home for a quick sale.
Buyers are running into situations where they will need to compete against other buyers, which ... more

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