Here is the Rochester WA real estate market update for June 2015.
Why live in Rochester?
Rochester, WA is located in the southernmost part of Thurston County, and is best known for its Scandinavian heritage celebrations. Rochester is also the home to the Great Wolf Lodge and the Lucky Eagle Casino operated by the Confederated Tribes of the Chehalis Reservation.
Schools: Many residents of these towns are in the Rochester School District.
Homes: Rochester features farming parcels as well as vintage homes in the downtown area. Neighborhoods in Rochester include Applegate, Beaver Creek, Black River, Country Manor, Grand Mound, Independence and Littlerock. Search Rochester WA homes for sale.
Rochester WA real estate market snapshot
Sales Prices continue to rise steadily in Rochester. Buyers are discovering Rochester and this part of Thurston County has seen excellent, yet sustainable growth in sales price.
With 2 months of inventory, Rochester sits comfortably in a sellers' market. (A sellers' market is 0-3 months of inventory.) Low inventory and active buyers are creating this sellers' market.
The number of homes listing for sale has decreased, which is welcomed news for sellers. Even though there is less competition among sellers, 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.)
Curious to know what your home is worth? Click here to learn more.
Visit my website to search Rochester, 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 Rochester, 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!