Is Olympia West, 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 West has remained a Seller's Market.
Housing Prices
How much do homes in Olympia West, WA cost?
Median Sold Price
$586,500
$290/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Summary: The median home sold price in Olympia West was $586,500 in August 2023, up 3.8% 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 | $545K | $360K | -33.9% |
2 Bedrooms | $451.2K | $502.5K | +11.4% |
3 Bedrooms | $574.5K | $566.5K | -1.4% |
4 Bedrooms | $577.7K | $664.3K | +15.0% |
5+ Bedrooms | $600K | $610K | +1.7% |
Summary: Olympia West housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 33.9%, 2 bedroom homes increased by 11.4%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes increased by 15%, and 5+ bedroom homes increased by 1.7%.
Median Sold Price Compared To Nearby Cities
Olympia West | $565K | $586.5K | +3.8% |
Tumwater | $488.8K | $499.9K | +2.3% |
Thurston South | $460K | $455.9K | -0.9% |
Kamilche | $382.4K | $357.5K | -6.5% |
Housing Supply
How many homes are available in Olympia West, WA?
Number of Homes For Sale
Jul 2023 | Aug 2023 | CHANGE |
---|---|---|
89 | 100 | +12.4% |
Summary: The Olympia West real estate market had 100 homes for sale in August 2023, a 12.4% increase compared to July 2023.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 11 | 12 | +9.1% |
3 Bedrooms | 52 | 58 | +11.5% |
4 Bedrooms | 19 | 23 | +21.1% |
5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Olympia West housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Jul 2023 | Aug 2023 | CHANGE |
---|---|---|
21 | 22 | +4.8% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in Olympia West in August 2023, up by 4.8% month-over-month. Of the 22 sold homes, 36% were sold under asking, 32% were sold at asking, and 32% were sold over asking.
Days on Market
How long does it take to sell a home in Olympia West, WA?
Average Sale Time
Aug 2022 | Aug 2023 | CHANGE |
---|---|---|
19 Days | 23 Days | +21.9% |
Summary: Homes in Olympia West had an average of 23 days on market in Aug 2023, up by 21.9% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During August 2023, 22 homes were sold in Olympia West; 68% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.