Thurston Country Market Conditions with Don Manzer
November 2025
No large changes in the local market this last month. As is seasonally typical, both the inventory and the number of deals have been going down. Overall inventory has increased quite a bit this year. It is currently 811 homes for sale, up 45% year over year, and the same level as the fall of 2018.
It peaked in this August which is typical timing. The number of pending deals peaked in June (typical) and has tracked fairly similar to the last 3 years. It is currently down 7% from a year ago. Average days on market is still a fairly low level at 74 days.
this month
At a Glance
Average Months of Inventory
0
Average 30YR Fixed Mortgage Rate
0%
Available Home Inventory above $450k
0
The median list price is down 2.5% year over year, the same level as the spring of 2024. Since the spring of 2023 it has bounced around in the trading range of $570k to $625k.
The results of all of that is that the months of inventory is currently 2.6 months. That is still well in the range of a seller’s market. Balanced markets tend to occur with 4 to 6 months of inventory. A balanced market is still inconceivable for the foreseeable future. The median sale price, on a 3 month rolling average, is up 2.2% year over year. Interest rates have been moving down, now averaging 6.17% on a conventional 30 year fixed loan. It is certainly now a calmer market than the last few years. Both buyers and sellers are more thoughtful with negotiations tending to occur in the more traditional fashion.
If you would like to participate in this calmer world then give Don a call. In any case, enjoy November.
