Olympia WA home prices for May 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 and real estate market activity for May 2013

May 2013 Olympia WA Home Prices & Real Estate Report Summary

Pending home sales are 26% higher than just a year ago. This means that more buyers and sellers are coming to agreement. In other words, buyers are making offers sellers are accepting.

Pending Sales in Thurston County

Closed homes sales are up 28% over May 2012. This is the more important number showing successful home sales coming to completion.

Sold homes in Thurston County

Homes prices in Thurston County rose slightly. The current average home price is $233,303.

Average Sales Price in Olympia WA

Absorption rates are 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.

Absorption Rate for Thurston County

 

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.

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