The Numbers Behind Our White-Hot Market

Now is a great time to buy or sell in our market. Here’s why.

Our real estate market is stronger than ever, and it looks to continue that way for the time being.

Why? Inventory and interest rates remain at all-time lows. Interest rates ticked up slightly recently, but only by 0.25%. Many people are talking about building homes because there’s no inventory. As of the recording of this video, Thurston County has 149 homes for sale. Last month, there were 300 home sales in that area, which means we sold twice as many as there are on the market right now. St. Louis County has 110 listings available, and last month there were 105 home sales. 

If you’re thinking of building a new home, there are a couple of things you need to consider. First, the new energy codes have taken effect and raised building costs by 20%. Lumber prices are also up 20% (some claim they’ve increased by 30%). 

With sales up and both inventory and interest rates down, it’s a perfect storm for a crazy-hot market. If you’re thinking of selling, you couldn’t have picked a better time than now. If you’re a buyer, there are plenty of good deals to be had out there. Affordability is high, which means you can get a cheap mortgage for an expensive house and still be able to pay your bills. 

If you have questions about our market or would like to take advantage of these conditions, don’t hesitate to reach out to me. My team and I would love to help you, and we wish you a great week!