Thurston Country Market Conditions with Don Manzer
April 2023
Our market has been slowing changing, but not dramatically.
Inventory is moving up while the number of deals is moving down. In general, prices of homes for sale have been trending down since Thanksgiving. It is still a seller’s market. The median sales price, for homes sold in the county, is up 4.2% year over year, on a 3 month rolling average basis.
this month
At a Glance
0
Average Months of Inventory
0%
Average 30YR Fixed Mortgage Rate
0
Available Home Inventory above $450k
There has been little change in interest rates this last month. The 30 year conventional mortgage is averaging 6.79%. Average days on market of the current active inventory is 59 days, down from 82 at year end, so things are still lively.
Some of the actual statistics follow. Inventory is up 23% year over year to 366 homes for sale. At the same time the pending deals are down 12% to 366 deals. Months of inventory has been trending up since Thanksgiving to now 1.7 months. Those balanced markets of years ago tend to occur in the 4 to 6 months range, so it is still clearly a seller’s market for the foreseeable future. The median asking price of the homes currently for sale is up 3.6% year over year to just short of $570k.
Our market is certainly calmer than a year ago. Buyers and sellers both now tend to be a little more thoughtful. If you have interest in participating in this marketplace then please give Don a call. Enjoy April.
