Thurston Co Real Estate Values

Home prices are up 9% in Thurston County for 2016 to 2017.  In real terms, a $200K home you could have purchased last year will cost you close to $220K.   The average sales price of a home in April 2016 was $258,273.  This year that home would cost you $283,510.

This is good news for sellers – only if you are leaving the area.  This is not so great news for buyers.  The average home sold for 100.3% of asking price.  It seems counter intuitive to pay more for a home than someone is asking – but that might be exactly what buyers may need to do in order to land a house.

What’s driving this market?  There are usually a variety of factors that contribute to a situation like this:  Still (relatively) low interest rates, buyers being squeezed out of King and Pierce county markets that are crazier than ours and …the main one:  lack of inventory.  There were 617 or so properties on the market this April VS 959 last April.

 

 


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