2016 is behind us now and we’re all looking forward to the New Year. I’ve always said “You can’t know where you’re going, until you know where you’ve been”, so let’s take a look back at the Real Estate market in Lewis County.
The Real Estate Market in Lewis County is looking up, with a total number of Single Family Residence (SFR) homes sold at 1086 this past year while 2015 only resulted in 1046 homes sold. This is an increase of nearly 4.5% in the number of sales and our average sales prices have steadily increased since 2014 as well. We closed 2016 with an average sales price of $170,000, just over an 11% increase.
July of 2016 was our hottest month with 179 homes “SOLD” per the NWMLS, while May through September remained strong. What really surprised me was the lack of decline in the number of sales even through the end of the year, look at the rise in the number of sales in November. The market stayed “Hot” through the end of the year.
Who knows what our future holds, but I’m the forever optimist. There has never been a better time to purchase a home than now. Interest rates remain relatively low, there are numerous loan programs available to qualified buyers and rental rates are sky rocketing so why wait.
We are so lucky to live here in Lewis County where our growth is slow & steady (remember the Turtle & the Hare story?), it always wins the race.
Now that we’ve peeked backwards, lets focus on what’s ahead.
If you’re looking to buy or sell, I’m here to help.
I am passionate about Real Estate and eager to answer all of your real estate questions! Text or Call me at 360-880-2356 or email me directly to ask about Buying, Selling or Investing in today's Real Estate Market - serving Lewis County & Thurston County, WA.
Certified Residential Specialist | Real
Mountain Valley Real Estate