This is where you'll find the latest housing market news for Thurston County. If you'd like to receive a copy of my Quarterly Newsletter - email me here.
While the Real Estate industry is functioning using strict COVID protocols we've been surprisingly busy. Inventory remains at historic lows so it's a great time to be a Seller. Contact me if you'd like to chat about preparing your home for the market. I'll provide a stress-free pla to get your house sold! In the meantime - here are the latest market stats.
HERE'S THE LATEST MARKET NEWS:
Record Sales and Record High Prices. One nice change, inventory. It is higher than a year ago (first time in more than 2 years that has happened).
Sales: Pending and Closed Sales were both record highs – for any month
Listings: New Listings coming to market were strong – 3rd Best August on Record, and 19% higher than year ago
Standing Inventory was 31% higher than a year ago
Absorption rate: Still just 15 day supply of homes = strongest seller’s market in NWMLS
The message for buyers: despite record sales, the addition of a lot more listings has meant less competition amongst buyers. Nearly half our completed sales did not have multiple offers. With affordability strongest in our market (every market north of us to the border is unaffordable) it is still a nice buying opportunity.
The message for sellers: fewer showings and fewer offers does not less success is in store. All sellers, even those requiring a price reduction before selling or receiving one offer, are achieving huge percentage price gains.