Lewis County, WA Statistics for the Next Real Estate Market Crash
Have you been reading a bunch of headlines about the real estate market and wondering why it hasn’t crashed yet? Are you starting to think that maybe those articles and videos are just click bait? Well in today’s video we’re going over the latest market update to see if the stats say a crash is just around the corner, but first…
About Eren Millam Realtor
Hey its your favorite local Realtor, Eren Millam w/ Premiere Property Group. I specialize in all things Lewis County because it’s where I live, work, & play. If this is your first time seeing me, I do 1-2 videos a week covering the market, reacting to real estate gurus, educating and informing you to make the best financial decisions when it comes to real estate. If you’d like to learn more about me, upcoming events in the area, or check out my weekly blog, you can visit my website, LewisCountyHomes.com. Now that we got that out of the way, let’s dig in!
Average Sales Price for Lewis County WA in March 2023
One of the best factors to determine the health of the market is the average sales price. I personally believe a rolling average is a better indicator of overall trajectory, but most articles will showcase the monthly data because it gives them something to talk about and react to on a daily basis. Taking a look at the graph here, you’ll notice the market goes up and down quite frequently.
You’ll also notice that it went up in the beginning of 2022, went down in the end of 2022, and now looks like it is going up again. Typically a crash will have a downward trajectory. We appear to be a mix of stagnant and jumping upward.
The Next Real Estate Market Crash
So, all those doomsday headlines and videos are full of baloney! Prices are being supported by a combination of low inventory and high buyer demand. Typically, buyer demand jumps way up in March and inventory starts jumping way up around April. This is what I expect to see going forward, and it means the 66% loss of buyers was due in part to their typical hibernation during winter months. If you’re listening to the clickbait headlines, you’re probably still waiting on prices to fall before making a move. Unfortunately, the plane is getting ready to taxi and you don’t have much time left to board before prices keep going up.
March 2023 Market Update
Now, I’m only speaking for Lewis County, WA. Your area may be different so its important to reach out to a local, knowledgeable realtor in your area who follows the stats rather than their feelings of the market. In my now decade in the industry, I’ve made lots of contacts and probably know someone in your area that can help you!
If this was helpful to you in any way, consider giving it a like so more people who have the same question can see it and consider subscribing to my channel so you don’t miss any need to know information about our current market. Again, I’m Eren Millam with Premiere Property Group, and remember, never settle for less than extraordinary!
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
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