Thurston Country Market Conditions with Don Manzer
It is still a very scarce inventory situation in the county. Many well-presented homes are now again getting multiple offers, often for more than the list price. Fortunately, though, the frenzy is a little more subdued than last year. Home inspections are still occurring, and the property usually has to appraise for the purchase price.
There are now 296 homes for sale in the county, which is about flat from a year ago. That is still a very low level. Months of inventory is 1.2. Those balanced markets of many years ago tend to occur when there are 4 to 6 months of inventory. Clearly it is still a seller’s market and nothing on the horizon looks likely to change that.
At a Glance
Average Months of Inventory
Average 30YR Fixed Mortgage Rate
Available Home Inventory
The median price of the current inventory of single family homes for sale is up 7% from a year ago at now $600k. Average days on market is 54 days. That is about double from a year ago, but still a quite short time. Looking at the homes that sold, including multifamily, the median price is down 1% year over year.
It is still often a little frustrating for buyers in this market, but usually pretty good for the sellers. If you are interested in stepping in this market then give Don a call. Enjoy some sunshine, and have a good May.