Here is the North Olympia WA real estate market update for June 2015.
Why live in North Olympia?
North Olympia beckons home-dwellers who are inspired by vintage homes, some of which are on the Historic Registry. This area includes the Capitol Campus, downtown Olympia, Bigelow, East Bay and East Olympia Hill. Homes in this area range from the majestic homes of Olympia's original pioneers to the more modest homes built for the pioneering sawmill and port workers.
Some homes offer water and Capitol views, and many residents enjoy being able to walk to the Capitol, downtown Olympia and the waterfront.
Types of homes: Vintage! Search North Olympia homes for sale.
North Olympia real estate market snapshot
Sales Prices are stabilizing with still a few ups and downs in prices. With such a variety of homes, this isn't too surprising.
With 4 months of inventory, North Olympia is in a balanced market and dips into a seller's market. (A sellers' market is 0-3 months of inventory.)
The number of homes listing for sale has remained steady, but still giving sellers less competition. But 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 North Olympia, 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 North Olympia, 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!