The current state of the Thurston county area real estate market is very, very slow. A combination of too much inventory and too few buyers has made it a “buyer’s market”. Showings have slowed, and the amount of days that properties are sitting on the market has increased significantly. With all of these factors, home prices have only dropped slightly (less than 1% year over year).
In this buyers’ market, sellers are encouraged to make their homes as clean, fixed and move in ready as possible. Also, I would encourage sellers to be flexible in their ideas about the value of their home and what concessions they may need to make in order to have a successful close.
There are many homes currently listed that will not sell this year. Some sellers may be faced with the prospect of remaining put and hoping the market improves in 2027, Those that can’t remain in their home due to job transfer etc, may find themselves as unplanned landlords. That situation may have its own challenges such as finding a qualified tenant, potential damage to the property caused by tenants and essentially being in a business that they did not intend. Laws in Washington State lean heavily in favor of the tenant,
If staying in the home or renting it out are not possibilities, I would take a hard look at reducing the price of the home. Real estate is highly dependent on timing. Both the timing of when the property was acquired and when it is sold. Sometimes, a seller may even have to take a loss and write a check to get out. These are hard truths for folks to hear.
For buyers that are serious and in the market to buy: It’s a great time to dig in and get that house. Get pre-approved so you know your budget, find a seasoned agent to represent you and get out there. This may be the best opportunity to buy your dream home in the last 20 years!
Olympia Real Estate Blog 