Olympia WA home prices for February 2013

Olympia WA home prices for February 2013

Here is this month’s real estate market report for Olympia WA in Thurston County by Francine Viola, Realtor of Coldwell Banker Evergreen Olympic Realty.

Olympia WA home prices for February 2013 are off to a hot startHere are the top 4 reasons why the Olympia WA real estate market is heating up:

1)      Low Inventory – we are under 1,000 listings in all of Thurston County.  As you can see by the chart, this is just as low as our inflated “hot” market of 2004-2006.

 Active Inventory Feb 2013

2)     Great interest rates – buyers are still getting a great bargain on their borrowing power with rates in the 3% range for a 30-year mortgage.

 

3)     Stable home prices – we are in a transition so buyers should take advantage this year to make their purchase.  Home prices have been stable for about 18 months, with the average home price fluctuating between $230,000 and $235,000.  Prices are starting to inch upward, so 2013 is the year to take advantage of lower prices and great interest rates.

Average Home Prices Feb 2013

4)    Happy buyers and sellers  Both buyers and sellers are feeling better about the market.  This 18-month trend of stabilization has led to more distressed sales (such as short-sales) actually closing and selling, as well as buyers absorbing the large inventory.   The number of close sales has dramatically improved over last year.

Sales Growth Feb 2013

February 2013 Olympia WA Home Prices & Real Estate Report Summary

Average sales price$230,869.

Average Days On Market 34 days.

Active Inventory (the number of homes for sale) – 988.

 

Find Homes for Sale in Olympia WA

Visit my website to search for homes in Olympia WA or sign up and get notified when Olympia homes that meet your criteria come up on the market.  This is a great service to have especially since inventory numbers are dropping.  Be the first to know of a new listing!

To find out what your home is worth in the current Olympia real estate market, email or call me today at (360) 359-0689.

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