Thurston County October 2019 Market Trends Report
October Market Report
Inventory, Inventory and Inventory continues to be the story of the housing market. If you are or thinking about selling now is a great time as inventory continues to dwindle. As of October 31st 2019 there are 481 homes for sale that is a decrease of 38.9% compared to this time last year.
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 are increased 9.8% between October 2018 and October 2019, to $345,000.
There were 428 homes that closed in October 2019 in the Thurston County Real Estate Market which was down 8.9 % from October 2018.
Homes spend an average of 22.75 days on the market in Thurston County. What is really interesting is when we break down the days on market by price range. When we do that we find if a home is listed between 0-$200,000 the average days on market is 33 days. When it is $200,000-350,000 it is 6 days. On homes listed between $350,000-500,000 it is selling at 15 days. On homes put on the market at $500,000 and above sat on the market in October for 37 days. 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.
Interest rates continue to be a great rate. In October 2019 there were at % 3.875 up .125% from the previous month.
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 the greater Olympia, Tumwater, Lacey, Yelm and Rochester real estate and for professional assistance navigating this sometimes-complex home market.