September 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. September 2019 found an decrease in the number of active listings for single-family homes, according to information from Northwest Multiple Listing Service.
The decrease in single -family homes on the market has been quite significant. September -38.6% drop compared to this time last year which equates to 354 less homes on the market. We have seen this dramatic drop even the last couple of months Aug -35.7% decrease 322 less homes and even in July there was a -33% lack of homes versus last year in July which had 286 less homes on the market.
The Northwest Multiple Listing Service reports that in September 2019, a total of 509 single homes were sold in the Thurston County area. This represents a 8.8% increase over sales in September 2018.
Prices in the Thurston County real estate market continue to climb during that year-long
period. The median price of a single-family home in the Thurston County area increased 10.4 percent
between September 2018 and September 2019, to $350,000.
Interest rates started to rise but remain very low. They increased .125% from last month to an incredible rate of 3.75%. When rates remain this low it will increase the amount of demand and buying power in the market right now.
Van Dorm Realty Inc. provides expert real estate services to residential buyers and sellers in Thurston County and surrounding communities. Contact us today for more information on Thurston County real estate and for professional assistance navigating this sometimes-complex home market.