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How these sellers made $60,000 on their Lacey, WA house in just 15 months
"How these sellers made $60,000 on their Lacey, WA house in just 15 months" seems like a pretty sensational headline and I usually don't start out my blog posts this way, but this is absolutely true.  Here's how these sellers did it.
 
 
Summary
My clients purchased this newly-constructed home in July 2014 for $409,950 in Lacey, WA.  Fifteen months later in October 2016, they sold the home in just 7 days for $470,000.
How did these sellers get the most amount of money for the home in the least amount of time, and came out ahead after just buying the home 15 months ago?
 
Market Conditions
Let's first look at sales and market statistics from the year 2000 to year-to-date.
The chart below focuses on supply and demand, that is shown as absorption rate, and how this absorption rate affects prices.
Currently for October 2016, the number of homes available for sale is slim.  This low inventory has created an absorption rate nearing just 2 months of inventory, which puts the market on average in a "seller's market."
As with supply and demand, this lack of inventory has pushed prices upward as shown by the green line, to an average sales price of about $275,000 in Thurston County, WA.
What ... more

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