Olympia WA real estate update for July 2016

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Rio isn’t the only place where Olympic records will broken; our “Olympian,” WA real estate market continues to deliver a gold medal performance!


medal-34109_1280The Gold goes to……..Pending Sales. 
Pending home sales in April through June achieved levels never before seen in our market.  Each month had more than 600 sales with an average of 618.  The previous best for any of those months was set in May 2015, when we had 545 sales.

 

medallion-31905_1280The Silver goes to……Home Prices.  Homes prices are nearly back to top levels with prices up 10.7% over the past year.

 

 

bronze-145190_1280The Bronze goes to……Days on Market.  With more buyers than sellers, buyers are acting faster than ever in this competitive market.  Well-priced homes—those that did not require a price reduction before receiving an acceptable offer—are going under contract in an average of just 13 days.  That pace is unheard of in our market.  It is more than a month faster than in 2006, which was the last peak of sales activity.

 

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