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Thurston Country Market Conditions with Don Manzer

November 2021

We’ve got another detailed account of the Thurston County Market Conditions from Don Manzer in his newsletter for the month of November 2021. If you would like real estate advice or help, then give Don a call. He continues to be ready to help any of the readership, or their friends, with their real estate needs.
No major changes to report for the local market during last month. There are still way more buyers than sellers (0.5 months of inventory). Those balanced markets of the past tended to occur at the 4 to 6 months of inventory situations. The push by buyers that increases prices is probably slightly dimished. The typical bid over asking price has calmed down a little. Buyers still have to be aggressive to be the successful bidder, and that usually occurs after enduring a fair amount of frustration.

this month

At a Glance

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Average Months of Inventory
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Average 30YR Fixed Mortgage Rate
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Available Home Inventory
Some specific statistics of the market are there are currently 293 homes for sale verus 226 a year ago. For several years many of us agents were more used to inventories of about 1500 homes for sale. The median price of the inventory is up only 4.3% year over year. The number of pending deals is 7% less than a year ago at 752 deals. Average days on market for the inventory is 34 days. A year ago it was 56 days. Distressed properties (short sales and bank owned) are still essentially none existent with only 2 in the county.
Obviously it is a still a great time to be a seller but more of a challenge for buyers. Buyers do get to enjoy very low interest rates.
Don Manzer - Market Conditions

If you would like to participate in any of this madness then give Don a call.  Enjoy spring.