August Housing Market Shows Large Home Supply

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Western Washington had the largest supply of homes in three years this August, according to Northwest Multiple Listing Service. Buyers also saw fewer bidding wars.

“There have been incremental increases in listing inventory the past few months,” said Gary O’Leyar, the designated broker and owner at Berkshire Hathaway HomeServices Signature Properties. However, he also said that, “By no means have inventory levels reached a point that is deemed to be a balanced market.”

Northwest MLS director John Deely said many buyers are showing more caution and presenting offers with standard contingencies. These would include inspections and financing provisions.

“Sellers should be careful to avoid overpricing as savvy buyers are wary of properties pushing (on) the upper end of the market,” Seely said. “Properly priced properties will still see heavy activity in this market. Sellers of homes that linger on the market are reducing their prices to spur activity.” 



The median price for home that sold in Lewis County in August was $235,500, while the average was $256,212. There were 111 closings in August. Additionally, there were 172 new listings, 330 total active listings and 167 pending sales.

Single family homes and condos much were much more expensive in Thurston County. The median price for a home that sold in Thurston County in August was $315,000, while the average was $347,192. There were 603 closings. Additionally, there were 635 new listings, 873 total active listings and 647 pending sales.

Northwest MLS serves 23 counties in the state and has roughly 2,200 member offices.