Thurston County Market Conditions with Don Manzer: April 2019
We’ve got another detailed account of the Thurston County Market Conditions from Don Manzer in his newsletter for the month of April 2019. 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 big changes for the month seem have occurred. Scarce inventory, rising prices, and low interest rates are still the story of the local market. Inventory of homes for sale is only 469 in the county, but up 3% from a year ago. The median price has risen to now $414,995, which is up 5.1% year over year.
The number of current deals is quite low at 645 pendings. That is off year over year by 9.3%, and is undoubtably due to the low inventory. Average market time for the inventory is only 74 days versus 83 days a year ago. Months of inventory is still clearly in the seller’s market range at only 1.3 months of inventory. When looking at only homes priced above $450k, the months of inventory is 2.9 months. Homes priced below that are only 0.9 months. Both of those levels are actually quite stunning.
Sellers, it is clearly a good time for you due to the very low inventory. Buyers, interest rates have fallen more, and are at attractive levels. They are now averaging 4.28% for a 30 year fixed. Overall there continues to much optimism in the marketplace.