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

The Thurston County housing market is under pressure, with the median price for single-family homes at $525,000 and inventory levels below two months. High mortgage interest rates nearing 7% pose challenges for buyers. However, the market is showing signs of recovery, with a 12% increase in single-family home sales from the previous year, totaling 241 units. Sellers are becoming more realistic in their pricing, leading to price reductions that benefit buyers. For instance, one seller agreed to buy down the mortgage rate for a buyer, facilitating a lower initial rate.

Conversely, condo sales have significantly declined, with only 11 units sold, highlighting different trends within housing categories. This evolving landscape emphasizes the need for residents to stay informed about local real estate trends and market conditions.