Thurston County WA real estate market update for Fall 2014

The Thurston County WA real estate market for Fall 2014 has continued on a positive trend of increasing home sale prices and strong buyer activity.

The Thurston County real estate market has been through its trials since the downturn in the summer of 2008 to the summer of 2013.  Sixty months of decline was going to take some effort to stop and turn around, and for the last 19 months, Thurston County saw consistent gains in average home sales prices.

Prices always hinge on supply and demand

To move prices back up, buyers had to return to the Thurston County market.  When prices reached the point that owning a home made more sense than renting, buyers came back to the market.  In fact, nearly two years before prices stopped falling, buyer activity began to rise.  It took buyers some foresight (or a leap of faith) to get back into the market when the market was still falling.  But that leap has paid off.

Month-over-month gains

While we are not yet back to the peak prices, we have 33% higher buyer activity in the last 3 years along with increased home sale prices.  The Thurston County market is moving in the right direction of recovery for many current homeowners.  In fact, sellers who purchased over the past two years and sold in 2014 achieved better than a 9% average annual return (and this does not include people who made significant improvements to their homes).

 

Statistics compiled by Coldwell Banker Evergreen Olympic Realty from Northwest MLS data. Statistics not published or produced by Northwest MLS

 

 

 

 

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