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Market Update August 2022

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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? Is the market crashing? Are the headlines true? Is it still a seller’s market?

Hey! It’s your favorite bearded realtor, Eren Millam w/ Premiere Property Group. Let’s look at the data so you can make an informed decision.

Defining a Seller’s Market

First off, according to all real estate experts, any market that has an inventory level of six months or less is considered a seller’s market. So what that means is the amount of inventory we have on the market currently – how fast is it selling? If it takes four months to sell through all the current inventory we’re putting on and have on the market, it’s still considered a seller’s market. So six months is that market to hit. Let’s see what inventories are doing here locally.

Chehalis, WA 98532 Market Update August 2022

Is it a good time to sell in Chehalis, WA 98532? Well, as of this video on August 3rd, we have 98 homes that are active for sale. The average time to sell is 26 days, and homes are selling for just a little bit under asking price at 97.8%.

Now, this is definitely not what we saw over the last couple of years where homes were flying off the shelf at record prices. But, that wasn’t really normal! And, so what we see now is the market looks like its trying to normalize.

Centralia, WA 98532 Market Update August 2022

You may also be asking is it a good time to sell in Centralia, WA 98531? Well, currently we have 80 homes active on the market. With an average time to sell of 11 days. It’s actually down from the previous month, and because of that, our average sales price is at 101%. So just a little bit above asking!

Lewis County Market Update August 2022

So here in Lewis County, inventory is going up and so are interest rates. For reference, in the county overall, the amount of sold homes dropped by 30 units between June and July. Now, typically, it’s at levels that we see in the winter months. We saw them in January and February of this year, we saw them in January and February of 2021, we saw them again in 2020. Still, more units were moved this month than were in the winter months of 2019 by average of 26 units. So inventory is going up, homes sold is going down, but is it a crash? Eh, not so much!

This market may make some buyers weary, but its also providing a lot of opportunities for other buyers that we haven’t had over the last couple of years. And, as the data shows, buyers are still buying!

Navigating the Current Market

It can be really scary knowing how to navigate this market, so you definitely want to deal with the experts. You can call or reach out to my team for a no risk, no cost, hassle-free strategy session. I am looking forward to meeting you. Again, my name is Eren Millam with Premiere Property Group. And 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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