Is Olympia, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
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 in Olympia, WA
How much do homes in Olympia, WA cost?
Median Sold Price
$545,358
$289/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Olympia have sold for 8.4% more than they did a year ago.
Summary: The median home sold price in Olympia was $545,358 in March 2024, up 8.4% from last year, and the median price per square foot was $289.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $266.5K | $313K | +17.4% |
| 2 Bedrooms | $415K | $435K | +4.8% |
| 3 Bedrooms | $500K | $519.1K | +3.8% |
| 4 Bedrooms | $575K | $620K | +7.8% |
| 5+ Bedrooms | $618.3K | $603K | -2.5% |
Summary: Olympia housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.4%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes decreased by 2.5%.
Housing Supply in Olympia, WA
How many homes are available in Olympia, WA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 362 | 400 | +10.5% |
Summary: The Olympia real estate market had 400 homes for sale in March 2024, a 10.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 10 | +11.1% |
| 2 Bedrooms | 52 | 59 | +13.5% |
| 3 Bedrooms | 184 | 209 | +13.6% |
| 4 Bedrooms | 90 | 95 | +5.6% |
| 5+ Bedrooms | 27 | 27 | 0.0% |
Summary: The Olympia housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 13.5%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 90 | 100 | +11.1% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
39 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Olympia, expect to pay close to the asking price. 39% of homes here sold near the asking price last month.
Summary: A total of 100 homes were sold or pending in Olympia in March 2024, up by 11.1% month-over-month. Of the 100 sold homes, 31% were sold under asking, 39% were sold at asking, and 30% were sold over asking.
Days on Market for Olympia, WA
How long does it take to sell a home in Olympia, WA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 45 Days | 42 Days | -5.8% |
Summary: Homes in Olympia had an average of 42 days on market in Mar 2024, down by 5.8% compared to last year.
Breakdown of Home Sale Times
67 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
17 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 March 2024, 100 homes were sold in Olympia; 67% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 17% 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 © 2024 Northwest MLS. All rights reserved.