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Lewis County WA Market Update July 2022

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Market Update July 2022

Do you want to know what’s happening here in our local Lewis County WA Real Estate Market? Is now a good time to sell in Centralia, WA 98531 & Chehalis, WA 98532? Are we going to see a crash and what should you do with your home? It’s time for your Market Update July 2022!

Market Update July 2022

Hey, it’s your favorite bearded realtor, Eren Millam with Premiere Property Group. I get asked this question often! Is now a good time to sell in the twin cities of Centralia, WA 98531 & Chehalis, WA 98532 and the surrounding areas?. I also get asked if we are we going to see a crash, and what should people do with their home?

It can be so confusing with the constant changes in the market to know what the best decision for your family will be.  I totally understand, I’m in the industry and have been for nearly a decade and I am here to help you navigate this market.  I’ve done hundreds of real estate transactions and when answering these questions it’s always a good idea to look at the data and what’s happening in the market so that you can make an educated and informed decision. So let’s see what the market looks like here locally in the month of June.

Centralia WA 98531

At the time of this video we have 67 homes active in Centralia. The average time to sell is only 17 days, with 38 homes sold last month. That’s an absorption rate of 56.72%. Remember, anything above 20% is considered a strong seller’s market!

Chehalis WA 98532

Now let’s take a look at Chehalis. Currently, there are 73 active homes on the market with an average of 16 days. 29 homes sold last month. That’s an absorption rate of 39.7%.

Lewis County WA Market Update July 2022

Your next question is probably, well, how is the county doing? Lewis County had 526 active homes on the market. The average time to sell is 27 Days. 148 units sold, which is down 4 units from the previous month. Overall, the county has a 28% absorption rate. Just for context, we have surpassed the peak amount of homes on the market for 2021 (481 units) and are at similar numbers to what he saw in 2020 just before the pandemic (520 units, April 2020).

Analyzing the Local Real Estate Market

So here in Lewis County we have very relatively low inventory and we still have relatively strong buyer demand.  However, the market is very volatile right now. We are currently experiencing more homes on the market than the past few months (although this appears mostly cyclical during the summer months), but we aren’t seeing as many offers on homes as we were seeing just a few months ago. Also, homes aren’t being bid up as high and buyers are not willing to remove contingencies as much as they were doing recently.

It’s still a good time to sell because interest rates and prices are still expected to continue to go up. However, as the interest rates go up, your buying power is reduced dramatically so if you don’t want to get stuck where you are, now’s the time to make the leap. Feel free to reach out to us at no cost or risk for a hassle-free strategy session.  I’m looking forward to hearing from you and as always Again, I’m Eren Millam & remember, Extraordinary Service delivers Extraordinary Results

If you’re thinking of buying or selling your home in the west Lewis County area, contact me today! I’d love to hear from you! Eren Millam – Managing Broker Premiere Property Group, LLC WA License No. 26933

Chehalis, WA 98532 | Centralia, WA 98531

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