Real Estate

Statewide, supply is low in the housing market.

If you're a prospective single-family home buyer in Thurston County, hoping that the holidays will slow sales and increase your chances of buying a house, think again because the entrenched sellers' market is still here.

That's according to Northwest Multiple Listing Service data released Thursday, which revealed another month of an unwavering trend: Demand, plus a lack of inventory, continues to push prices higher and allows sellers to hold all the cards.

"It's the same story," said Windermere Olympia owner Steve Garrett.

November's inventory in Thurston County was one month. A fair balance between buyer and seller is thought to have four to six months of inventory.

Fewer homes came to market in November, compared to a year ago and the total number of homes for sale was off 40 percent from November 2018, the data show.

Still buyer interest from King County and other markets where median prices are higher pushed up median prices here 11 percent last month, the data show.

There are still all-cash buyers in this market, Garrett said, and at certain price points -- $240,000 to $270,000 -- there are multiple offers and homes move off the market quickly.

Some Thurston County buyers, he said, are looking at Grays Harbor, Mason and Lewis counties for affordability.

A closer look at the county single-family home market for November 2019.

-- Sales rose 1.3 percent to 389 units from 384 units in November 2018.

-- Median price rose 11.1 percent to $349,900 from $315,000 a year ago.

-- Pending sales rose to 412 units from 406 units.

A closer look at the county condo market for November 2019.

-- Sales fell to 10 units from 11 units in November 2018.

-- Median price rose to $234,000 from $172,000.

-- Pending sales fell to 13 units from 17 units.

Recommended for you

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.