The real estate market in Yelm, WA is shifting as we step into spring, bringing both challenges and opportunities for buyers and sellers. Whether you’re looking to purchase your first home, move up, or sell, understanding the latest trends can help you make an informed decision. Here’s a closer look at what’s happening in our local market:
Home Prices: Holding Steady Amid Market Adjustments
Despite rising mortgage rates, home prices in Yelm remain stable. The market has found its balance, with well-priced homes continuing to sell at competitive levels. While the days of multiple over-asking price offers within hours are behind us, desirable properties are still moving quickly—especially those that are well-maintained and priced appropriately.
Mortgage Rates: Higher, But Stabilizing
Interest rates remain elevated compared to recent years, but the good news is they are no longer experiencing rapid increases. Buyers are adjusting to this new reality by exploring various financing options, such as:
- Rate Buydowns – Some sellers are offering rate buydowns to make their home more attractive to buyers.
- Adjustable-Rate Mortgages (ARMs) – Buyers are using these to secure a lower initial rate with the intention of refinancing later.
If you’re considering purchasing a home, working with a knowledgeable lender and real estate expert can help you navigate these financing strategies to maximize your affordability.
Inventory: Still Low, But Buyers Have More Room to Negotiate
Inventory levels in Yelm remain tight, which continues to give sellers an advantage. However, buyers now have more breathing room compared to the peak frenzy of past years. Instead of competing with dozens of offers, today’s buyers may only face one or two competing offers—allowing for better negotiation on price, terms, and even contingencies.
What This Means for Buyers and Sellers
For Buyers:
- Now might be the right time to buy. With home prices holding steady and mortgage rates unlikely to drop significantly soon, securing a home now and refinancing later could be a wise move.
- You have more negotiating power. Many sellers are willing to offer concessions, such as covering closing costs or buying down your interest rate.
- Homes are still selling fast—but not at the breakneck speed of 2021-2022. You have time to shop smart and find the right fit without feeling rushed.
For Sellers:
- Preparation is key. Homes that are well-maintained, staged, and priced competitively are selling within a couple of weeks.
- The market is still in your favor. While buyers have more negotiating power, low inventory keeps demand strong. A well-marketed home will still attract serious offers.
- Consider creative selling strategies. Offering incentives, such as helping buyers with closing costs or rate buydowns, can make your listing stand out.
The Bottom Line
The Yelm real estate market is evolving, but it remains a strong and stable place for both buyers and sellers. If you’re looking to make a move, now is the time to get expert advice to ensure you’re making the best decision for your situation.
📲 Call or text me at 360-708-2929
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🌎 Visit: www.RealEstateYelm.com
As your local real estate expert, I’m here to help you navigate the market and get the best deal possible. Let’s talk about your goals and create a plan that works for you!
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