Here is the Yelm / Rainier WA real estate market update for June 2015.
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
Sales Prices continue to rise steadily in the Yelm / Rainier area. This part of Thurston County is recovering well with strong buyer activity, a balanced market and lower inventory.
With 4 months of inventory, Yelm/Rainier are enjoying a balanced market where both buyers and sellers are realizing their real estate goals.
The number of homes listing for sale has remained steady, but down slightly from last year, which is welcomed news for sellers. Sellers still need 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.)
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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!