Greetings Homeowners,

2018 has come out of the gates fairly strong with not much of a slow down through the holidays.
There was a time when we would see the real estate market cool down around Thanksgiving and remain slow through the holidays, then usually by the super bowl you would see signs of the real estate market picking up. The last 3 years this has not been the case.

This current market is as strong a Sellers market as I have seen in my 27 years.

The % of Asking Price for the last year is currently at 100%.

Another indicator I keep a close eye on is the Available Homes For Sale (inventory).
As I type this update, the current residential inventory in Thurston County is less than 500 homesfor sale.
In more balanced markets, January, or the beginning of the year we could expect 1,100 – 1,300 homes available and by spring we would see an increase of homes for sale to keep pace with the available qualified buyers in the market place.
With over 60% less inventory available (supply) and the demand still very strong with attractive interest rates, this market has become very unbalanced.
The qualified buyer can expect competing with multiple buyers on a property they would like to purchase.
The seller will then most likely experience multiple offers for their home with each offer trying to beat out the other offers, which now is driving up home values just from such a strong demand.

This shortage of homes for sale is a hot topic state wide.
Washington state is down over 60% with available homes for sale.

If 2018 is your year to buy or sell your home, please don’t hesitate to contact me to help you navigate through a real estate market quite unlike any market I have ever seen.

Your Trusted Advisor

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