Like our August weather, the Olympia WA real estate market is continuing to be smokin' hot!
This update is short and sweet, but please contact me for customized information about how your home fits into the market.
As an Olympia WA seller, here is what to love about this year's real estate market:
Buyers competing for your home - driving up the price
You may have heard that inventory levels are down. They are but we are also adding new listings at a record pace. Even with all the new listings coming on the market, buyers are snapping up the well-positioned and well-presented homes, and are competing with other motivated buyers. Buyers are looking to buy your home!
Sellers are making higher profits
The simple principle of supply and demand is just one of the reasons why home prices have increased - there are more buyers than homes available for sale. Buyers are also enjoying low interest rates, which is making home ownership attractive. And buyers are finding that their potential mortgage payment on a house is cheaper than rent, which is also driving more people to become homeowners rather than home renters.
Homeowners waiting to sell can now sell - and for a profit
Since the top of the market in 2006 and 2007, where home prices were at their peak in Thurston County WA, those homeowners are now, on average, able to see a profit. Many of these owners have had to wait until the market turned in order for them to sell at a profit. And many became unintentional landlords. But the time is here for most sellers to successfully sell!
For more details about your home and how it fits into the current market, please contact me. With no obligation, I'm more than happy to sit down with you and tell you the facts so that you can make the best decision for you and your family.
Have a great rest of the summer!