Is Olympia, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Olympia is a seller's market

Buyer's
Market

Difference Since July 2021

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.

How much do homes in Olympia, WA cost?

Median Sold Price

$487,747

$286/sqft

Based on all homes sold in the last 12 months.

Difference Since July 2021

+$81,519(+20.1%)

Key Takeaway

Homes in Olympia have sold for 20.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJul 2021Jul 2022%
1 $212K$295K
+39.2%
2 $329K$400K
+21.6%
3 $400.6K$486.5K
+21.4%
4 $460K$551K
+19.8%
5+ $471K$625K
+32.7%

Median Sold Price Compared To Nearby Cities

Tumwater
+24.2%
Olympia
+20.1%
Lacey
+19.4%

How many homes are available in Olympia, WA?

Number of Homes For Sale

Jun 2022Jul 2022%
1861860.0%

Homes For Sale By Bedroom Count

# BEDSJun 2022Jul 2022%
1 33
0.0%
2 5342
-20.8%
3 8293
+13.4%
4 3537
+5.7%
5+ 1311
-15.4%

Number of Homes Sold

Jun 2022Jul 2022%
6164+4.9%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

21 Homes Were Sold
At Asking

32 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Olympia, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Average Sale Time

Jul 2021Jul 2022%
11 Days10 Days-12.2%

Breakdown of Home Sale Times

61 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Olympia are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Olympia, WA

Olympia, WA has 186 homes for sale to choose from. While the average time on the market in July 2022 was 10 days, the median list price was $487,747. This housing market listing prices have changed between June 2022 and July 2022: 1 bedroom properties prices increased by 39.2%, prices of 2 bedrooms properties went up by 21.6%, the cost of 3 bedrooms properties went up by 21.4%, 4 bedrooms properties prices increased by 19.8%, 5 bedrooms properties became 32.7% more expensive. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes did not move, volume of 2 bedrooms homes went down by 20.8%, volume of 3 bedrooms homes went up by 13.4%, number of 4 bedrooms homes increased by 5.7%, 5 bedrooms homes inventory decreased by 15.4%. In July 2022 more than 32 listings in Olympia, WA were sold above the asking price. During the same period more than 21 listings were sold at asking price, while more than 11 were sold below.

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