Home to over 300,000 residents, Thurston County offers a perfect blend of natural beauty, outdoor adventure, and economic stability. Spanning 727 square miles, this region is a haven for those who love both land and water recreation.
If you enjoy being on the water, you’ll find plenty to explore. Thurston County boasts an impressive 468 miles of shoreline—116 miles of saltwater, 138 miles of lake frontage, and 221 miles along rivers and streams. Whether you’re into boating, fishing, kayaking, or swimming, there’s always an opportunity to get outside and enjoy the water.
Land adventurers aren’t left out either. The county is home to two expansive state parks covering nearly 1,000 acres, along with four county parks and an extensive network of walking and biking trails spanning 47.5 miles. City parks are abundant, with Olympia alone managing 46 parks spread across more than 1,400 acres. Add in the nine golf courses in Thurston County and you’ll agree that local access to the outdoors is vast
Located at the southern tip of Puget Sound, Thurston County offers the best of both worlds—proximity to major destinations without the daily congestion of big-city life. You’re only 90 minutes from Mount Rainier National Park, 45 minutes from Olympic National Park, an hour from the coast, and about an hour from Seattle and Portland.
The local economy remains steady, thanks to a strong government presence. With 42,000 government jobs—28,000 of which are in state government—Thurston County is more resilient to economic downturns than many other areas. The private sector also plays a vital role, with major employers like Providence Health & Services, Albertsons/Safeway, Walmart, and local casinos contributing to job stability.
Thurston County attracts a diverse mix of people, from college students and young families to retirees. Higher education institutions, including The Evergreen State College, St. Martin’s University, South Puget Sound Community College, and a WSU satellite campus, make this a hub for learning. Families are drawn to the region for its affordability, employment opportunities, and easy access to outdoor recreation. In fact, families make up about two-thirds of all households here.
For retirees, Thurston County offers the perfect mix of affordability, high-quality healthcare through Providence, and active retirement communities like Jubilee. Many retirees choose to downsize from their metro-area homes and relocate here, often using their equity to invest in higher-quality homes in scenic locations—particularly along the waterfront. Check out Spence Weigand’s 2024 Saltwater Report for Thurston County if you want to learn more.
The 2024 housing market reflected a mix of challenges and opportunities. While the number of homes sold was at its lowest point in five years, median home prices continued to rise. Homes sat on the market longer, but demand remained strong due to the ongoing supply shortage.
One of the biggest hurdles for buyers has been affordability. With mortgage rates hovering around 6.5%—a level we haven’t seen in nearly 20 years—many first-time buyers feel discouraged. While homeownership may seem out of reach, there are still plenty of financing options available, including down payment assistance programs. If you’re considering buying a home, it’s worth speaking with a knowledgeable lender to explore your options.
On the flip side, homeowners who locked in historically low mortgage rates of 2.5%–3.5% in recent years are reluctant to sell, contributing to the tight inventory. This “golden handcuff” effect has led to fewer homes hitting the market. Building contractors are finding stronger and more steady revenue streams in the remodeling sector, a sign that more people would rather fix up their current home vs. sell and upgrade to a different home.
A key real estate metric is inventory—the measurement of how many homes are available relative to buyer demand. This is calculated by dividing the number of active listings by the average number of homes sold per month over the past six months.
With just 1.4 months of inventory, we remain in a seller’s market. Even though homes are taking longer to sell, prices continue to rise because demand still outweighs supply.
In a balanced market, inventory levels typically sit between 4 to 6 months. Anything below 4 months is considered a seller’s market. If the inventory is over 6 months, it shifts us into a buyer’s market, where increased supply can lead to price stabilization or declines.
Given the high volume of data points, most statistics are presented as median values rather than averages for a more accurate market representation.
In 2024, Thurston County saw 3,314 home sales, marking the lowest total in the past five years. As expected, sales peaked during the summer months before declining through the holiday season. While the usual September slowdown occurred, an unexpected surge in October briefly boosted sales, largely driven by a 1% drop in interest rates the previous month.
In 2024, the median price per square foot in Thurston County rose 4.35% from $276 in 2023 to $288. Over the past five years, the county has experienced an average annual increase of 7.56%, reflecting steady growth in home values.
The median sale price in Thurston County increased 2.8% compared to 2023, remaining relatively stable throughout the year. Over the past five years, home prices have shown consistent growth, with an average annual increase of 6.56%, reflecting the county’s steady upward market trend.
The days-on-market (DOM) metric has seen a significant increase over the past three years. Comparing 2024 to 2022, there has been a 146% jump, with homes now averaging 16 days on market compared to just 6.5 days in 2022. This trend is largely driven by sustained high interest rates and low inventory, which have led to higher overall purchase costs and a more cautious buyer pool.
This metric has remained relatively unchanged year-over-year (YoY), following typical market patterns. While there’s usually a slight peak during the summer months, high interest rates kept activity steady in 2024, preventing any major fluctuations. Overall, the market moved in line with expected seasonal trends.
The era of sub-$400K single-family homes dominating the market is long gone—we haven’t seen that since 2020. Over the past five years, the median sales price has increased by $127K, with most homes now falling in the mid-$400K to mid-$500K range. This surge was largely fueled by the hyper-competitive market of 2021, which pushed prices up significantly. Coupled with persistently low inventory, home prices continue their steady climb. If this trend persists, finding a single-family home under $400K will become even more rare—though, for many buyers, it already feels like searching for a needle in a haystack.
As we move further into 2025, the direction of the housing market will largely depend on mortgage rates, economic trends, and changes in housing supply and inventory. While affordability challenges persist, strategic financing and a long-term investment outlook can help buyers navigate this competitive market.
For those thinking about buying or selling, working with experienced real estate professionals and mortgage lenders is key to ensuring you’re purchasing wisely. Despite the market fluctuations, Thurston County remains an incredibly desirable place to call home—offering a strong economy, an unbeatable outdoor lifestyle, and the perfect balance of city and nature.
Helping people is a passion of mine, I genuinely enjoy being a resource. If you have any questions or just want to learn more, please don’t hesitate to reach out to me!
Nate brings a rich tapestry of experience to real estate, from his early days working at his family’s marina in Olympia to building a successful media business. As a former EMT, baseball coach, and entrepreneur, he’s worn many hats – but his guiding principle has remained constant: selflessness. Whether he’s helping families find their perfect home or guiding sellers through a successful sale, Nate combines his marketing expertise, local knowledge, and commitment to putting clients first. When he’s not serving clients, you’ll find him spending time with his wife Stephanie and their two daughters, EmmyLou and June.
