Olympia comes alive in the summertime. The sun sparkles on the water and long days allow time to relax in nature and enjoy all that the PNW has to offer.
Inventory increased somewhat for the month, up 13+% to now 549 homes for sale. That is still an incredibly low inventory level.
No big changes for the month seem have occurred. Scarce inventory, rising prices, and low interest rates are still the story of the local market.
Every year for the last 28 years, the Weigands have delivered annual reports on salt waterfront sales homes in Thurston County. This year Spence Weigand deliver’s the 27th Annual Salt Waterfront Homes in Thurston County Sales Report.
As per recent annual trends, real estate prices have gone up sharply so far this year. The median price of the inventory is now $412,000.
As is typical this time of year, prices are moving up along with the inventory. January though is usually a slow time of the year, and that is again the case.
In the 1960s, Nat Jackson, was attempting to buy a home in Olympia, when he walked into Virgil Adams Real Estate, where he met Virgil Adams.
It is still a good time to be a seller in this market. For buyers, interest rates have fallen again. They are now averaging 4.55% for a 30 year fixed.
Market activity has been slowing consistent with seasonal trends. The number of pending deals in the county has continued its decline to now only 530 deals.
It’s still clearly a seller’s market though with the overall months of inventory being only 1.5 months and for homes priced below $450k it’s only 1.1 months