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.
The Olympia WA Real Estate Highlights
Pending home sales are up 14% – one of the best quarters on record. This means that more buyers and sellers are coming to agreement. In other words, buyers are making offers sellers are accepting.
Closed homes sales are up 12% – multi-year high. This is the more important number showing successful home sales coming to completion.
Homes prices in Thurston County rose slightly. The current average home price is $232,930.
Absorption rates are the lowest levels since 2006 and continuing to improve. Absorption rate is a wider view of the market that looks at the number of buyers and homes for sale, and how quickly homes are selling. Low absorption rates indicate a seller’s market, and many segments of the market are seeing this shift from a buyer’s market to a seller’s market.
In summary, buyers who purchase in 2013 will be very happy they acted now instead of next year. They still will have a lower priced home and borrowing at ridiculously low interest rates. With prices just now poised to rise, buyers acting now are getting in at a good time. Sellers who are looking for a better home are also poised to take advantage of the improving market.
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.