A 5 year history (5 acres or more) in Thurston County WA

This 5 year history spreadsheet increases the land size to 5 acres or more in Thurston County.
A 5 acre or larger land sale has always been one of my favorite, most challenging and rewarding aspects to my real estate practice.

	A 5 Year History of
	Land Sales in
	Thurston County
	5 acres or more
		Average
		Days on	Median	Average
	Total Sold	Market	Price	Size	SP%LP
2013	52	442	$87,500	9.34	91.13%
2012	61	390	$80,000	10.89	87.30%
2011	64	330	$96,000	15.24	88.13%
2010	56	412	$86,000	10.04	90.66%
2009	52	245	$106,500	7.60	90.28%

In summary:

• The combined average market time over 5 years comes in at 361 days.
• Larger parcel land value has dropped -24.9% in the last 5 years.
• The average sold land size was increasing as the values were decreasing. More land for less money
• The SP%LP, after a year of waiting/hoping to sell, the buyer expected another 10% off the asking price. 

a Buyer’s market

Stress doesn't come from the facts; stress comes from the meaning that we give those facts. Tony Robbins

see you over at http://www.thurstonliving.com/

How is vacant land doing in Thurston County?

I don’t spend a lot of time in the past. It’s yesterday, gone, over, finished, behind me.

 I sell a lot of land in Thurston County, so I thought a look in the rear view mirror might shed some light on the vacant land market that has been going on while all the media attention is usually directed at housing.

 I’m not the smartest realtor on the planet, but I do know they're not building anymore land. 

 For blogging purposes, let’s just call it real estate.

I will be sharing two separate 5 year histories. 

The first being land less than an acre in size. “The building lot”

My second post will be the larger than 5 acres

	A 5 Year History of
	Land Sales in
	Thurston County
	Less than 1 Acre
		Average
		Days on	Median	Average
	Total Sold	Market	Price	Size	SP%LP
2013	40	241	$45,275	0.48	83.76%
2012	59	183	$34,000	0.33	81.90%
2011	64	296	$47,250	0.34	89.11%
2010	95	190	$61,556	0.31	88.96%
2009	67	149	$64,000	0.30	89.76%

•  -29.1% drop in the median price over the last 5 years. Nearly 1/3 of land value went away.

• The SP%LP has remained over 10% the last 5 years.

• In summary; to sell a lot in the last 5 years meant a 30% hit, an average of 7 months to sell your land, then kick in another 10% when receiving an offer.

“Supply and Demand”

"There are no new fundamentals. You've got to be a little suspicious of someone who says, ‘I've got a new fundamental.’ That's like someone inviting you to tour a factory where they are manufacturing antiques." -- Jim Rohn

see you over at http://www.thurstonliving.com/

stats du jour for the Thurston County Real Estate Market YTD

Serving up a few more statistics for the Thurston County real estate market as we wind down 2013.


New Construction

• 355 new homes have sold  YTD 2013
• Average Sales Price             $272,568
• Average Days on Market           75

• 345 new homes sold YTD 2012
• Avg Sales Price        $261,922
• Avg Days on Market       82 

A +4.1% increase to the average sales price for new construction 2013 compared to new construction 2012.
New construction accounts for 13.4% of our Thurston County real estate market.

~ ~ ~ ~ ~ ~ ~ ~ ~ ~ 
Condo's

• 77 Condo's have sold YTD 2013
• Average Sales Price    $132,898
• Avg Days on Market         103

• 66 Condo's sold YTD 2012
• Avg Sales Price  $128,000
• Avg Days on Market 156

A +3.8% increase to the average sales price for a condo YTD 2013 compared to YTD 2012.
Our condo sales account for 2.9% of our Thurston County real estate market.

~ ~ ~ ~ ~ ~ ~ ~ ~ ~ 
Foreclosure / Short Sales

628 homes sold YTD 2013 that were either bank owned/foreclosure or sold short (short sale). The combined bank owned and 3rd party sales account for 23.7% of our Thurston County real estate market.

"We don't pay the price for success, we pay the price for failure. We enjoy the benefits of success."- Zig Ziglar

see you over at http://www.thurstonliving.com/

 Information deemed reliable but not guaranteed.

a closer look at YTD SW neighborhoods vs Thurston County YTD

Drilling a little deeper into the SW corner of Thurston County and comparing YTD SW vs YTD Thurston County

SW Neighborhoods
SW Tumwater
Tumwater Hill
SW Olympia
Black Lake
Delphi
Waddell Creek
LittleRock
YTD
	Residential Only	Avg Days	Median Price
		on Market
For Sale	154	107	$277,000
Pending	68	125	$241,970
2013 YTD Sold	361	75	$234,950	+3.5%
Comparing YTD 2012	323	95	$227,000
Sold Properties

YTD 2013 has been a healthy real estate market in the SW corner of Thurston County. A +3.5% increase to the median price YTD 2013 compared to YTD 2012.
I'll be watching the pending market time closely the next few months. The pending market times were well under 90 days during the spring and summer, but appear to be cooling off.

~ ~ ~ ~ ~ ~ ~ ~ ~ ~ 

All
Thurston County
Neighborhoods
NW
NE
SE
SW
including Yelm
Tenino, Rochester
YTD
	Residential Only	Avg Days	Median Price
		on Market
For Sale	1,302	108	$254,950
Pending	381	77	$225,000
2013 YTD Sold	2,589	76	$226,500	+2.9%
Comparing 2012	2,468	96	$219,950
Sold Properties

The SW neighborhoods account for 13.9% of the total sales YTD in Thurston County

Replace what you want with what you'll give and the world will be a better place.

see you over at http://www.thurstonliving.com/