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Olympia WA real estate market October 2018
The real estate market trend for the Olympia, WA area is starting to level out as we head into the winter months.  
 
The recently released data shows a modest decline in closed sales (down 3.6%) and pending sales (down 4%) from a year ago, however, both figures made this the second-best October on record.
 
Combined with fewer closed sales, active inventory inched up a bit to 723 homes for sale in all of Thurston County, WA.  That rise is just 6.5% up from last month yet that rise did not push the market into a balanced market. 
The Thurston County market is still strongly in a sellers’ market with an absorption rate of 1.52 months of supply.  This is due to the continuing strong demand from buyers.  (A balanced market is 4-6 months of supply.)
 
 
 
Where are we headed?
The trend here is moving back toward balance.  Sellers need to continue to price right, and now may need to look at comparable sales from the first quarter of 2018 for comps instead of looking at the recent comparable sales in this past spring and summer months in order to “price right.” 
 
 
With inventory on the rise and demand softening, Thurston ... more

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