What is the Housing Market doing this Month?
If you haven’t been paying attention to any of my other market updates, you might be shocked to find out what I’m sharing with you today. Whether you are or not, I’m here to break down what’s happening here in our local real estate market in November 2022, so you can make the best decision for you and yours!
November 2022 Market Update
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? Most people I speak with are assuming a crash like 2008, but I think that conversation will go by the wayside as more and more people look at the numbers and educate themselves.
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 almost a decade now 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 happened in the market during the month of October. Below is your November 2022 Market Update.
Chehalis WA 98532
In Chehalis, WA 98532, at the moment of posting, there are 60 active listings, down 43 units from the beginning of the month. 26 homes pending, and 31 homes were sold in the last 30 days, which is down 5 units from the previous month. Homes sold for an average of $444,947 which is up nearly 28k from last month. You read that price, prices jumped up again. Average days on market jumped up to 41 days from 26 days. This is a lagging indicator that homes are taking longer to sell due to a decreased buyer pool.
Centralia WA 98531
In Centralia, WA, we have 78 active homes on the market, down from 131 last month. Thirty-seven (37) pending and 34 sold in the last month which is down 4 units. The average sale price was $430,789, up about 34k from last month (last month I had a misprint with the average at 317k, should have been 397k) Currently the average days on market is 35, which is up just about a full week.
Lewis County WA Market Update October 2022
And in Lewis County overall, we have 333 active homes on the market, down from 348, with 106 pending (down 11 units) and 99 sold in the last month. The average sale price was $430,009 – which is up from last month and the 5th highest price in recorded history, the other four coming earlier this year. Average days on market is currently sitting at 41, up from 30 in the broad county.
Analyzing the Local Real Estate Market
The price shot upwards again. If you’re a casual observer of the market, you would think it’s going down because you’re still seeing price reductions. However, homes that are priced correctly are still selling. We are seeing the time on market shoot way up, which seems to be heading towards a normal sales time of 3-5 months.
With the changing market, it is no surprise to us that homes are staying on the market longer. With the constant shifts, you need an experienced agent to help you navigate through your next moves in real estate. If your agent is telling you to “test the market” or “let’s see what the feedback is”, it means they have no idea how to sell your home in the current market. Connect with my team today to get more information and we can strategize about what to do with your home. I’m Eren Millam 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 | Adna, WA | Napavine, WA | Onalaska, WA 98570 | Rochester, WA 98579 | Vader, WA 98593 | Winlock, WA 98596 | Boistfort, WA
Call/Text: (360) 219-3616 | Email: Eren@LewisCountyHomes.com
Check us out on FB: https://www.facebook.com/erenmillamrealtor
Want to Search for Lewis County homes? Do that here: https://lewiscountyhomes.com/homes-for-sale-search/
Are you a first-time home seller? Take this FREE Virtual Seller Seminar: https://seminar.lewiscountyhomes.com/
Considering selling your home? Get your FREE Market Analysis: https://cma.lewiscountyhomes.com/
Get your FREE Buyer & Seller Guide: https://about.lewiscountyhomes.com/
Want to stage your home to increase its perceived value? Check out my FREE Staging Guide: https://staging.lewiscountyhomes.com/