Lewis County Real Estate Market Report April 2018
Last month, we reviewed the numbers for Chehalis and Centralia, which mirror the numbers for the county (inventory down, average sales price up) in Lewis County Real Estate Market Report March 2018.
In that report I showed how twin cities’ homeowners have realized a $50,000 equity gain in the last three years! You’ve heard me say before, this is a good market to sell as we have low inventory. Well today, I want to share with you some research I’ve been doing recently. Everyone knows about the low inventory, but that doesn’t mean much without context. Check out the graph below:
This graph shows homes for sale each month over the past 12 years (data does not go any further). There has never been fewer homes for sale in the last 12 years. Let me repeat that.
THERE HAS NEVER BEEN FEWER HOMES FOR SALE IN THE LAST 12 YEARS!
It’s not really even close! The previous low was around 430 homes compared to 350. Not only that, but the number is still going down. It appears that, together with very few areas left to develop, we are nearing a situation similar to Seattle, though not as spendy!.
If you have any questions about this post or others, I’d be more than happy to speak with you. You can contact me here.