Thurston Country Market Conditions with Don Manzer
August 2025
It is still a similar market to last year, with the exception of the months of inventory ratio. We currently have 3.1 months of inventory of homes for sale. It is still a seller’s market (balanced markets fall in the 4 to 6 months range).
Sellers have lost a large portion of their advantage from a year ago when we had 2.1 months of inventory. That change lowers the frenzy level in the market. Now it is somewhat calmer with transactions occurring with more traditional terms. Average days on market though has stayed pretty flat. It is currently 59 days up from 56 days a year ago. The inventory of homes for sale is up 18% year over year to now 434 in the county. The number of deals is down 2% from a year ago. The median list price of the homes for sale is up 6% over last year to now $605k. Distressed properties have increased to now 2.3% of the market, which is still insignificant. The median sold price, on a 3 month rolling average basis, is up 5.9% year over year.
this month
At a Glance
Average Months of Inventory
0
Average 30YR Fixed Mortgage Rate
0%
Available Home Inventory above $450k
0
Inventory levels have been climbing since February, and are now up 49% year over year, 876 homes for sale. Last time we had that level of inventory was November 2016. The number of pending deals has tracked this year fairly similar to the last 3 years.
It is now off by 6% though from a year ago. The current median list price of the inventory is $585,000 for single family homes. That is off 2.5% from a year ago. Last time at that level was April 2024. Distressed properties a still an insignificant portion of the market, 1.4%. No big changes in interest rates. The average 30 year fixed mortgage is down slightly to now 6.72%.
Inventory levels have been climbing since February, and are now up 49% year over year, 876 homes for sale.
