Is Olympia West, 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 West has remained a Seller's Market.
Key Takeaway
Olympia West is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Olympia West, WA
How much do homes in Olympia West, WA cost?
Median Sold Price
$584,950
$284/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Olympia West have sold for 4.4% less than they did a year ago.
Summary: The median home sold price in Olympia West was $584,950 in March 2024, down 4.4% from last year, and the median price per square foot was $284.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $495K | $392.5K | -20.7% |
| 2 Bedrooms | $483K | $492K | +1.9% |
| 3 Bedrooms | $584.9K | $575K | -1.7% |
| 4 Bedrooms | $725K | $629.9K | -13.1% |
| 5+ Bedrooms | $579.5K | $609.4K | +5.2% |
Summary: Olympia West housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.7%, 2 bedroom homes increased by 1.9%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes decreased by 13.1%, and 5+ bedroom homes increased by 5.2%.
Median Sold Price Compared To Nearby Cities
| Tumwater | $494.6K | $511.5K | +3.4% |
| Thurston South | $451.7K | $459.7K | +1.8% |
| Olympia West | $611.6K | $584.9K | -4.4% |
Housing Supply in Olympia West, WA
How many homes are available in Olympia West, WA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 61 | 67 | +9.8% |
Summary: The Olympia West real estate market had 67 homes for sale in March 2024, a 9.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 10 | 11 | +10.0% |
| 3 Bedrooms | 26 | 33 | +26.9% |
| 4 Bedrooms | 21 | 18 | -14.3% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Olympia West housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 26.9%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 16 | +23.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Olympia West, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Olympia West in March 2024, up by 23.1% month-over-month. Of the 16 sold homes, 50% were sold under asking, 31% were sold at asking, and 19% were sold over asking.
Days on Market for Olympia West, WA
How long does it take to sell a home in Olympia West, WA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 50 Days | 59 Days | +17.8% |
Summary: Homes in Olympia West had an average of 59 days on market in Mar 2024, up by 17.8% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Olympia West are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 16 homes were sold in Olympia West; 44% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 25% 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.