Thurston County Market Conditions with Don Manzer: September 2017

We’ve got another detailed account of the Thurston County Market Conditions from Don Manzer in his newsletter.  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.

September Residential List Prices in Thurston County

Our weather has not cooled off but the prices in Thurston County have certainly have. The market is still quite vibrant but pricing has decreased. Median prices of the inventory are still up 4.7% year over year, but they are off 9.6% from this year’s peak prices in early May. In early May the median price peaked at $365,000, and is now $330,000.

September Home Inventory in Thurston County

Year over year inventory is a stunning statistic.  It is down 25% to now just 854 homes for sale in the county.  The number of pending deals is off 9.5% from a year ago to now 896 deals.  The average days on market has gone down during the month to now 72 days.  That is essentially the same as a year ago.  The best indicator of overall market conditions is months of inventory.  It is still incredibly low at 1.8 months of inventory.  Balanced markets tend to occur in the 4 to 6 months range so overall it is still very much a seller’s market.

September Home Supply/Demand in Thurston County

The discrepancy by price range has been decreasing. For homes priced below $450k there are only 1.4 months of inventory. That is still absolutely a seller’s market. For homes priced above $450k there 4.7 months of inventory. That is still quite a difference in the two different price ranges but the gap is narrowing. On average sellers of higher priced homes are still having to work harder to get their homes sold.

The Last 12 Months at a Glance

Median Home Price in the last year
Available Home Inventory
Average Time on Market
Average 30 Year Fixed Year Mortgage Rate

Contact Don Manzer

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It still looks to be a very reasonable time to be a player in the real estate market. Interest rates are down to very low levels, currently averaging 3.8% for a 30 year fixed. There is also plenty of optimism in the marketplace.”

Don’s Featured Listing

2.12 Lot Acres


This fully forested lot is waiting for your new custom home. The location would support a high value one. It is a rural setting but still handy to both Olympia and Lacey. The site is nearly level but with enough slopes for some good interest. The timber value should help offset some/all of the clearing costs. Survey has been done and seller plans to provide an approved septic design.