Market Brief: A Look at Thurston County Real Estate in May

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Real Estate Market Report Thurston CountyIt’s been a hot year for real estate in Thurston County and across the country. Nationwide for the month of May, housing markets saw record sales and low available inventory – the strongest growth real estate has seen since the great recession. Thurston County also saw tremendous progress for the housing market during this period of time. Keep reading to take a look at the key facts and figures from the month and discover what made it an excellent time for anyone selling a house!

Thurston County Real Estate as of May 31, 2017

  • There were 644 active listings in Thurston County. This number is down 236 listings from the same date last year.
  • Average Days on Market (DOM) for active listings decreased from 92 days to 89 days when compared to last year.
  • There were 731 new pending contracts for the month, an increase from last year’s 621 pending contracts.
  • Median sales prices increased 8% compared to last year.
  • There was less than 1 month of total inventory available at the end of May.

These figures indicate that homes are staying on the market for shorter periods of time, and fewer houses are being listed compared to last year. With homes selling quickly and an extremely low inventory, competition for what’s available drove home prices higher making the month of May a seller’s market. Check back in a couple weeks to see if June followed the same pattern!

 

Karin Zeigler brings a wealth of knowledge and expertise in buying and selling residential real estate in the South Puget Sound area including Thurston, Mason, Lewis and Pierce counties. Whether you’re looking for a first house, downsizing, or have special circumstances such as military loans, Karin can help you find your dream home. Contact her today, or call 360-870-6249, to start your home buying or selling process.

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