Olympia WA Thanksgiving Real Estate Stats that will Astound your Know-It-All Aunt Trish

By
Real Estate Agent with Coldwell Banker Evergreen Olympic Realty, Olympia WA

This Thanksgiving as we are sharing a meal with our relatives, sometimes heated discussions come up as the mashed potatoes and bean casserole are being passed around, including the popular topic of real estate. 

 

Like me, you may have your own Aunt Trish who is an expert in ALL conversation topics.  She has a cure for whatever ails you, she offers endless advice on parenting, cooking, automotive repair, how the country should be run, and has an endless supply of snappy retorts.   

 

Bless her heart as she likes to engage me in a battle on real estate.  But for those non-Realtors out there, I want to prepare you to BATTLE with confidence and WIN your own Aunt Trish Banter-Olympics with these factual stats about the local Olympia WA real estate market:

 

Aunt Trish:  “OMG, the real estate market is slowing down.  I don’t know who in their right mind would try to sell their house now.”

 

You:  “The Olympia real estate market just hit a record seller’s market with 1.01 months supply. It is the lowest absorption rate on record – ever.  You know what absorption rate is, right Aunt Trish?”

 

Aunt Trish: “Well, of course, I know all about absorption rate and how real estate is absorbed.”

 

 

You:  “Absorption rate shows supply and demand. In other words, if all the buyers available purchased all the homes available, it would take a certain amount of time.  A balanced market is a 4-6 month supply.  With just 1.01 months supply, the Olympia market is firmly seated in a seller’s market.”

 

"And I can also go on to discuss why listing your home in the fall and winter is actually a great time to do so. If you'd like to discuss that more, check out my blog post here."

 

Aunt Trish:  “The market is coming to an end.  The politics of this country are going down the drain and so is the real estate market.  Buyers will be back in the driver seat again.”

 

You:  “Not really.  In order for our real estate market to just get a balanced market, not even a buyer’s market, we would need a 281 percent increase in listings to meet the current pace of sales and we would need a 74 percent drop in monthly sales.  It’s unlikely that will happen next year or anytime soon.”

 

Aunt Trish: “I don’t know who is buying.  Home prices are so high.”

 

You: “The good news for buyers is because interest rates have gone down, they have more buying power and their interest rate has erased the price increases in the market.  It is actually more affordable for buyers now than it was in the spring this year because of the interest rates. And Thurston County is the most affordable county along the I-5 corridor according to the Runstad Department of Real Estate at the University of Washington.”

 

Aunt Trish: “Can you pass the rolls?”

 

If you find yourself this Thanksgiving backed into a corner by your own Aunt Trish, text me and I’ll help you out! Like the chefs at Butterball, I’ll be here to answer your real estate questions.

 

Happy Thanksgiving! And cheers to a peaceful dinner table!

Posted by

 

Francine Viola, Realtor
In Tune with your Real Estate Needs

 

Serving Buyers and Sellers in Olympia, Tumwater, Lacey and Thurston County, WA

Coldwell Banker Evergreen Olympic Realty, Inc.  |  Olympia, WA

 

Cell:      (360) 359-0689

Email:  Francine.Viola@cbolympia.com

Web:     www.FrancineViola.com

 

       

 

Comments (15)

Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update, all the best to you as you get many of these properties listed and sold.

 

Nov 21, 2019 09:56 PM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

I think "Aunt Trish" is a guest at every gathering...we are going to stop at 3 Friendsgivings and I just know she will be at ALL three !

Nov 22, 2019 05:14 AM
Francine Viola

Sally K. & David L. Hanson Wow - three dinners?! Three times the fun! LOL! 

Nov 22, 2019 11:07 AM
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Francine Viola I think the majority of this country is experiencing an extreme sellers' market.... ours has 1 month of inventory remaining.....

Nov 22, 2019 05:30 AM
Francine Viola

Barbara Todaro - we are setting crazy real estate records; interesting to see other parts of the country.

Nov 22, 2019 11:08 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Francine - this is a topic that many can relate.  At Thanksgiving and at other times of the year as well.  Expert local knowledge matters and your Olympia Washington real estate market information is quite helpful for prospective home sellers and home buyers.  No offense to Aunt Trish...

Nov 22, 2019 05:41 AM
Francine Viola

Michael Jacobs Everyone is an expert, right?!  Happy Thanksgiving!

Nov 22, 2019 11:09 AM
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

That is great ammunition for Aunt Trish and I am sure that everyone around the table will be laughing inside as she proves how little she actually knows, haha.

Nov 22, 2019 07:09 AM
Francine Viola

Brian England Thanks for the reblog and yes, aren't family dynamics fun?! Happy Thanksgiving!

Nov 22, 2019 11:09 AM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

I'm so happy Brian England reblogged this one, Francine. It's delightful. We all have a friend or a relative like Aunt Trish. I love your clever post and find that, when all else fails, decorative duct tape over the mouth also works well. ;) 

Nov 22, 2019 07:39 AM
Francine Viola

Debb Janes EcoBroker and Bernie Stea JD - ahhh, yes, the famous duct tape will work wonders here! :-)

Nov 22, 2019 11:10 AM
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Francine, I LOVE your post. (Feature fairies: take heed.) A great reminder to know your stats.

Nov 22, 2019 08:24 AM
Francine Viola

Lottie Kendall Thanks and yes, it's good to know the stats. My broker is very helpful in this area and shares updates with us, making it easy to "correct" those know-it-alls!

Nov 22, 2019 11:11 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good afternoon Francine Viola ,

We all know or have an Aunt Trish in our family! I love the answers you had right at the tip of your tongue!! Happy Holidays and cheers to a peaceful dinner table!

Nov 22, 2019 02:38 PM
Francine Viola

Hi Dorie Dillard CRS GRI ABR - why are relatives so weird?!  Anyways, yes unfortunately I know we all have our own Aunt Trishs!

Nov 24, 2019 09:21 AM
Rebecca Gaujot, Realtor®
Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

I loved this post, Francine. I do not have an Aunt Trish but if I did I hope I could answer her questions the way you did.

Nov 22, 2019 08:18 PM
Francine Viola

Hi Rebecca Gaujot, Realtor® - thanks and Happy Thanksgiving!

Nov 24, 2019 09:20 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Francine... what a clever post. And here I thought our inventory was low at just under 2 months! Meantime, I'm quite grateful in this season of thanksgiving that I have no Aunt Trish to worry about at Thanksgiving dinner.

Nov 23, 2019 04:31 AM
Francine Viola

Hi Nina Hollander - luckily I don't have an Aunt Trish, either - it will be a very quiet Thanksgiving dinner at my house this year!

Nov 24, 2019 09:19 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

I love this post. What a fun way to display your knowledge of the local market. Aunt Trish has no chance!

Nov 23, 2019 06:18 AM
Francine Viola

Hi Kat Palmiotti - love your headshot!  Thanks and Happy Thanksgiving!

Nov 24, 2019 09:19 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Francine:

What a clever way to provide local market data to dispute the myths some people believe and share. We all know people like this!

Jeff

Nov 23, 2019 04:44 PM
Francine Viola

Hi Jeff Dowler, CRS - sometimes you just have to mix up the stats!  Happy Thanksgiving!

Nov 24, 2019 09:18 AM
MichelleCherie Carr Crowe Just Call...408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

What a victory when you can finally get aunt Trish to just ask “can you pass the rolls?”

Nov 24, 2019 06:39 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Francine, LOL, those Aunt Trish's of the country, sure can be a sore spot at the Thanksgiving table.    She probably can NOT relate the absorption rate!     

Nov 27, 2019 10:40 AM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Oh, now that is cute and clever and devilishly true, Francine! I love it! 

You know, we all run across those Aunt Trishes in our lives and being armed with accurate information and having a thorough understanding of your market will always make you shine when it comes to these or any discussions about real estate.

I see figures and theories misspoken all of the time - even by other agents. I just keep citing the accurate stats and providing screenshots that show the facts!

Hope you're doing well! Happy Monday!

Carol Williams - a great one for second-chance Saturday...

Dec 02, 2019 06:49 PM