Thurston County Market Report Jan 2020
In the Thurston County real estate market, conditions continue to favor sellers, even as fewer houses become available compared to his time last year.
January 2020 found a decrease in the number of active listings for single-family homes, according to information from Northwest Multiple Listing Service. Active listings decreased 53 percent to 247 listings compared to this time last year.
Actual sales of single-family homes increased over the same period. The Northwest Multiple Listing Service reports that in Jan 2020, a total of 284 single homes were sold in the Thurston County area. This represents a 10.5 percent increase over sales in January 2019.
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 11.1 percent between January 2019 and January 2020, to $353,168. Average home prices rose 13.4 percent during that period to $389,144.
The days on market vary depending on the price point. Homes priced up to $200,000 spent an average of 30 days on the market which is an increase of 12 days compared to this time last year. When homes are priced from 200 k- 350 k spent an average of 17 days which is a decrease of 6 days from January 2019. Single Family Residences that are priced at 350 K to 500 K were on the market an average of 41 days at increase of 10 days from this time last year. Lastly homes that hit the market at $ 500,000 and above were on the market an average of 61 days and that is an increase of one day from January 2019.
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 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.