Thurston home sales rise as median price, inventory unchanged | The Olympian

Thurston County's housing market is facing high median prices and elevated mortgage interest rates near 7%, creating challenges for buyers and sellers. In November 2024, the median home price remained at $525,000, with critically low inventory below two months, favoring sellers. However, single-family home sales increased by 12% year-over-year, totaling 241 units sold. Brokers like Steve Garrett noted a shift in seller strategies, including more realistic pricing and incentives like buying down interest rates to attract buyers. Despite ongoing pressures, these negotiations indicate a more engaged market.

The condo market, however, faces challenges with a sharp decrease in sales and an 8. 7% drop in prices, highlighting the complexities of Thurston County's housing landscape as it adapts to changing economic conditions.