Is Olympia, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
Since last year, Olympia has remained a Seller's Market.
Key Takeaway
Olympia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Olympia, WA cost?
Median Sold Price
$537,439
$290/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Olympia have sold for 9.6% more than they did a year ago.
Summary: The median home sold price in Olympia was $537,439 in August 2023, up 9.6% from last year, and the median price per square foot was $290.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $318K | $304.4K | -4.3% |
| 2 Bedrooms | $402.5K | $422.7K | +5.0% |
| 3 Bedrooms | $488.2K | $510K | +4.5% |
| 4 Bedrooms | $560K | $605.3K | +8.1% |
| 5+ Bedrooms | $625K | $603K | -3.5% |
Summary: Olympia housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 4.3%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes decreased by 3.5%.
Housing Supply
How many homes are available in Olympia, WA?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 570 | 588 | +3.2% |
Summary: The Olympia real estate market had 588 homes for sale in August 2023, a 3.2% increase compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 13 | +18.2% |
| 2 Bedrooms | 69 | 75 | +8.7% |
| 3 Bedrooms | 320 | 319 | -0.3% |
| 4 Bedrooms | 138 | 147 | +6.5% |
| 5+ Bedrooms | 32 | 34 | +6.3% |
Summary: The Olympia housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 18.2%, 2 bedroom homes increased by 8.7%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 6.3%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 180 | 174 | -3.3% |
Asking Price vs. Sold Price
52 Homes Were Sold
Under Asking
60 Homes Were Sold
At Asking
62 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Olympia, you could pay more than the asking price. 35.6% of homes here sold above asking price last month.
Summary: A total of 174 homes were sold or pending in Olympia in August 2023, down by 3.3% month-over-month. Of the 174 sold homes, 30% were sold under asking, 34% were sold at asking, and 36% were sold over asking.
Days on Market
How long does it take to sell a home in Olympia, WA?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 18 Days | 22 Days | +23.3% |
Summary: Homes in Olympia had an average of 22 days on market in Aug 2023, up by 23.3% compared to last year.
Breakdown of Home Sale Times
133 Homes Were Sold
Under 30 Days
34 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Olympia are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 174 homes were sold in Olympia; 76% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2023 Northwest MLS. All rights reserved.