A Seller’s Market Buyers Can Love

by Coldwell Banker Evergreen Olympic Realty, Inc. on May 15, 2017

We are in a unique place in today’s housing market. Amidst the strongest seller’s market on record, there is great news for buyers, too. Purchasing a home is much more than just the investment, but we all would like to know we are also making a smart financial move.

Even with a great many homes coming to market, buyers still outnumber sellers. The result is swiftly rising home prices. Today’s buyers are paying on average 11.4% more for a home than a year ago. It can make one wonder if prices are peaking.  There are several reasons buyers might look forward with continued optimism about rising prices.

  1. Pent-up Demand. Sales are at an all-time high and increasing. The last recession created huge pent up demand.  It will take many years to fully unleash.
  2. Still Affordable. Even though prices rose 11.4% over last year, they’re still below historic trend lines. Combined with near record-low mortgage rates, there is great affordability in our area.  Compared to surrounding counties to the north, our market is much more affordable. This will keep in-bound migration very strong.
  3. Lack of new construction. Our county is one of the fastest growing in Washington state and the United States. Construction of new housing for these in-bound residents is not keeping up.  In fact, we are about 600-700 units short each year. It takes years to bring a new home community to market, and there is no sign that the pace of building will catch up any time soon. As a result, demand should outpace supply for many more years.

Actual outcomes are impossible to hit precisely, but these fundamental market observations suggest this is truly a unique point in time – when both buyers and sellers benefit from a seller’s market.

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Market Minute – Housing Market Riddle

by Coldwell Banker Evergreen Olympic Realty, Inc. on May 5, 2017

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What Makes a House House a Home – Scholarship Contest

March 23, 2017

It’s that time of year again! Our annual “What Makes a House a Home” scholarship contest is about to begin it’s 7th year. The contest dates are as follows: Submissions: April 10th, through May 7th Fan Voting: May 8th to May 12th Top Finalists will be announced on Wednesday, May 17th Winners will be announced […]

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May be hard to believe, but Spring is here!

March 20, 2017

It may not feel like Spring, but according to the calendar, we have turned the corner. Looking to bring a little more spring to your front door, look no further. Our friends at Houzz.com have some great tips for the perfect spring plantings. You can see all of their “12 Stunning Spring Container Gardens” by […]

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Welcome Dan Keahey

February 27, 2017

Dan joins our company after working for Coldwell Banker in Centralia for the last 18 years. He brings 22 years of real estate expertise to our company with great enthusiasm to serve his clients. Dan has strong local roots as a Pacific Northwest native and current Centralia Port Commissioner. In his spare time, Dan enjoys hiking […]

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Record Number of Homes for Sale

February 24, 2017

You may have read that story headline and said to yourself, “What? That is not what I am hearing every where else!” But it’s true. We have had a record amount of homes coming on the market. The difference is, they are coming off the market just as fast as they come on. Consistently rising […]

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Welcome Madison Del Vigo

February 10, 2017

We are proud to welcome Madison Del Vigo to our company. Madison joins us after working for the past 5 years for the Olympia Police Department. She brings a strong customer service background with strong local ties to our community! Outside of real estate, she enjoys travelling, spending time with her husband and training Semper […]

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Welcome Jake Bourne

February 8, 2017

Jake Bourne joins us after working 8 years as an EMT in the Seattle and Bay Area. He has called the Pacific Northwest home for the past 5 years. In his free time, he enjoys spending time with his wife Liv, golfing our local courses and boating our wonderful waterways. We are very proud to have […]

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Congratulations Casey Jones

February 7, 2017

We would like to congratulate our own Casey Jones on  being awarded his Certified Residential Specialist Designation by the Council of Residential Specialists, the largest not-for-profit affiliate of the National Association of REALTORS. Only 3% of REALTORS nationwide have earned the CRS credential. Those who receive the CRS Designation have completed advanced professional training and […]

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Get Ready for the Home Selling Season – now starting in winter?

December 6, 2016

Most sellers wait till spring to list their homes.  There are many reasons why, but one of the biggest is the perception that the market is stronger in those months. The ratio of buyers to sellers is really what determines the strength of a market.  What surprises most people is that the ratio is pretty […]

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