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Thurston Country Market Conditions with Don Manzer

July 2024

No significant changes in the market this month. It seems to be plugging along with 2024 looking fairly similar to 2023. The peak for the year in pending deals looks to have occurred in mid June, typical timing. The number of listings has not yet peaked. That usually occurs a little later in the year.
The median price of the listings for sale is up 4.3% year over year, just barely under $600k. Over the course of this year, it is slightly off from last year. It has bounced around a little, but overall has been relatively flat for the last couple of years. The median price of actual solds, on a 3 month rolling average basis, is up 1.0% year over year. The months of inventory statistic has been flat for the last couple of months. It is still clearly in the seller’s market range at 2.1 months of inventory. Those balanced markets of years ago tend to occur in the 4 to 6 months range so not on the horizon.

this month

At a Glance

Average Months of Inventory
0
Average 30YR Fixed Mortgage Rate
0 %
Available Home Inventory above $450k
0
Inventory of homes for sale is 589 in the county. That is more than in 2023 but less than 2022. Average days on market for the inventory is 56 days. The number of pending deals is 414, off 5.5% from a year ago. Bank owned and short sales are at non relevant levels.
It is still a more pleasant market to be dealing in than a year ago. Transactions tend to occur with “normal” provisions. Less crazy risk taking by buyers is happening. The best segment of the market though is likely to have competing offers, often over the list price.
Don Manzer - Market Conditions

If you would like to participate in this calmer market then please give Don a call. In any case, enjoy August.

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