Olympia WA and Thurston County have the lowest standing inventory in its history. At the end of February, Thurston County had just 242 homes listed for sale. In contrast, a balanced market is about 1,200 listings. Our market would need to add 1,000 listings in a month to just get to a balanced market, and even more listings would have to be added to get to a buyer’s market.
Along with this is the absorption rate in Thurston County. Never have we been below a 1-month supply of homes for sale.
It’s no doubt it has been a tough couple of weeks. I’m hoping this soothing photo can help.
Our daily lives have been impacted and disrupted, and these times are certainly unnerving. But as history has proved to us, we will bounce back. We made it through many crises before and we will make it through this one.
How is the Coronavirus affecting the Thurston County, WA real estate market?
Interest Rates. If there is a silver lining with this crisis, it is interest rates. With the Federal Reserve’s slashing of costs to borrow, homebuyers are poised to benefit from lower interest rates. Currently, … (2 comments)
;)
;)
;)
