Here is the Summit Lake / Steamboat Island WA real estate market update for January 2016.
Summit Lake / Steamboat Island WA real estate market snapshot. In looking at how 2015 rounded out, there were great strides in recovery for the Summit Lake and Steamboat Island areas.
All the numbers look great for the Summit Lake/Steamboat Island area!
- Sales Prices are up slightly.
- Number of home sales are down a bit but are very stable.
- Inventory numbers and number of homes listed for sale are improved. This is great news for sellers. Sellers have less competition but buyers have less inventory to choose from.
- With 3 months of inventory, the Summit Lake / Steamboat Island area sellers are in a seller's market. (A sellers' market is 0-3 months of inventory.) This is a huge improvement when at the bottom of the market, the inventory was 95 months!
What does all this mean?
With the improving market, most sellers now have equity. Sellers are more confident in selling and in most cases, seeing a profit.
Buyers need to be prepared to make decisions quickly, be willing and able to write a compelling offer, and be financially qualified with a reputable local lender.
Prices are still below what they should be, and there is still pent up demand. That means there are still buyers and sellers waiting on the sidelines to make their next move. Buyers can still take advantage of the market if they are ready to make a move now.
Why live in Summit Lake / Steamboat Island areas?
Northwest Thurston County not only features the major areas of Summit Lake and Steamboat Island but also Carlyon Beach, Gravelly Beach, Hunter Point, Madrona Beach, and Oyster Bay.
For water views and beach access on a budget (at least less expensive than West Olympia!), you'll want to check out the Northwest section of Thurston County. People may look at a map and think it is too far from Olympia, and that's just not the case. You can get into town in about 10-15 minutes yet you feel far and isolated.
Home buyers can not only find beach properties but also horse properties in this area of Thurston County. Mini-farms are sprinkled throughout, and residents raise animals such as horses, cows, sheep, goats and alpacas to name a few!
Take Steamboat Island Road NW out to the very end, and you'll find Carlyon Beach. Cross the bridge and you'll be on Steamboat Island. Steamboat Island has approximately 60 homes.
Schools: The school district is Griffin School District.
Types of homes: Most homes are established with very little new construction. Mobile homes and single family home are predominate with some having water views and/or acreage for larger animals.
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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!