Thurston Country Market Conditions with Don Manzer
February 2025
Our county market has been waking up with trends all similar to the last 3 years. The number of single family listings is now 380, up 19% year over year. The median price of the listings is up slightly, 3.8% from a year ago, at $612,000. Viewing pricing on a chart, the general trend of the last couple of years does appear flat.
Average days on market of the inventory is 70 days, down 5 days from a year ago. Pending deals are 308, up 6.5% year over year. Months of inventory is little changed at now 1.5 months. The range of that statistic has been narrow for the last 3 years.
this month
At a Glance
Average Months of Inventory
0
Average 30YR Fixed Mortgage Rate
0%
Available Home Inventory above $450k
0
Obviously, it is still clearly a sellers’ market. Those balanced markets from years ago tend to happen in the 4 to 6 months of inventory range. Distressed properties a still a quite small portion of the market, 1.6%.
Clearly the inventory continues to be thin, and no reason to think that will be changing. The average 30 year conventional mortgage is now 6.95%. Transactions continue to occur in the more traditional fashion with negotiations, inspections, etc. Buyers and sellers both get to be more thoughtful as they make deals. Very different than those wild markets a couple of years ago.
If you would like to participate in this calmer market then give Don a call. In any case enjoy February.
