August Market Report
In the Thurston County real estate market, conditions continue to favor sellers over buyers, even as fewer houses become available compared to his time last year. August 2019 found a decrease in the number of active listings for single-family homes, according to information from Northwest Multiple Listing Service.
Active listings decreased 35.7 percent to 579 compared to this time last year. Actual sales of single-family homes also decreased over the same period. The Northwest Multiple Listing Service reports that in August 2019, a total of 559 single homes were sold in the Thurston County area. This represents a 3.6 percent decrease over sales in August 2018.
Prices in the Thurston County real estate market continued to climb during that year-long period. The median price of a single-family home in the Thurston County area increased 8.8 percent between August 2018 and August 2019, to $348,000.
Homes that sell between 0-$200,000 spend an average of 22 days on the market which is an increase of 13 days from the previous month. Homes that sell between $200,000-$350,000 spend an average of 15 days on the market which is an increase of 3 days from the previous month. Homes that sell between 350,000-$500,000 spend an average of 23 days on the market which is an decrease of 2 days from the previous month. Homes that sell 500,000 and greater spend an average of 34 days on the market which is an increase of 1 day from the previous month.
Generally high prices, limited availability, and quick sales of those homes that come up for sale make the Thurston County real estate market a favorable environment for sellers.
Van Dorm Realty provides expert real estate services to residential buyers and sellers in Olympia, Tumwater, Lacey and surrounding communities. Contact me today for more information on Thurston County real estate and for professional assistance navigating this sometimes-complex home market.