Upfront, the Lacey real estate market has been a reliable investment for the Lacey and military community out of Joint Base Lewis-McChord (JBLM).? Homes for sale near JBLM naturally have the benefit of a strong pool of buyers and consistent expectations each year.? This congruence between buyer and seller expectations is part of the reason the price per square foot of homes for sale in Lacey has remained stable.
Looking long-term, leading into 2012 will likely hold similar results for Lacey real estate until we see a large turnover in the summer of 2013.? As units redeploy from Afghanistan, many of the soldiers from JBLM will PCS and sell their home prior to departing.? In turn, several new personnel will replace these soldiers in late 2013 and drive Lacey home prices dramatically higher.
Short-term, we can expect the price per square foot for homes for sale in Lacey to remain depressed until the second quarter of 2012.? In accordance with seasonal market behavior, the Lacey real estate market will see a surge of new buyers and homes for sale.? Expect resistance at the $132 per square foot mark in the ladder half of the second quarter.
Analysis of the Number of Homes for Sale in Lacey
From the fourth quarter of 2010 to January 2012, the number of homes for sale in Lacey has been largely seasonal.? The year?s low occurred from December of 2010 to February of 2011 in which the number of Lacey homes for sale floated from 221 to 226 homes.? The second, relative low occurred toward the tail end of 2011 and into 2012 as there were only 238 Lacey homes on the market.
From the perspective of a seller in Lacey, this is good news as it produces predictability in the market, a metric to determine the right time to list your home, and a basis to evaluate the Lacey housing market as a whole compared to the surrounding JBLM area.? Looking at how many homes for were added each month, the most homes were added to the Lacey housing market in March with 101 homes while May was a close second with 99 homes.? Other months didn?t see nearly as many additional homes and this influx of real estate partly drove the year-long high in August of 296 homes.? Thus, from a historical perspective, sellers who add their home in March to May in 2012 run the risk of being overwhelmed by other new homes for sale in Lacey.
Quick Look at Average Price per Square Foot for Homes for Sale in Lacey
Compared to the previous year?s first quarter, the average price per square decreased 3.6% in the first quarter of 2012.? A large portion of this loss came from the 6.3% drop that occurred in January of 2012, compared to January of 2011.? Nonetheless, homes for sale in Lacey have retained value in the midst of a depressed housing market.? Part of this resistance could be a result of a strong buyer pool.? For example, the high personnel turnover at Fort Lewis ? now referred to as JBLM ? creates a continual strong pool of buyers and sellers.? In February and March each year, there are a large number of officers graduating from their Officer Basic Course and start relocating to Fort Lewis.
As a result, the price per square foot for homes for sale in Lacey is postured to improve leading into the second quarter of 2012.? Most of this will come from seasonal buyers entering the market at this time.? If you?re looking at Lacey homes, ask your Lacey real estate agent to show you the price per square foot of comparable homes in your desired neighborhood.
CDOM for Lacey Homes for Sale
The statistics for cumulative days on market further reinforces the argument that homes for sale in Lacey are largely influenced by seasonal buyers.? Unlike other communities though, Lacey real estate can be influenced by large events or deployments for military units at JBLM.? First, ask your real estate agent near JBLM about any events or movements they know are upcoming.? Marry these up with traditional trends based on seasonal influences and you?ll have a good guide of when you want to enter the Lacey market.
It is also important to note that most homes for sale in Lacey were purchased above 93% of the asking price.? This is an indication that buyer expectations are in line with sellers? and demonstrates a stable housing market.? If you?re looking for a great deal, seeking out a good foreclosure or short sale in Lacey may be worth looking in to.
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Source: http://visumrealestategroup.com/blog/2012/02/review-of-homes-for-sale-in-lacey/
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