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.
Key Takeaway
Olympia West is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
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
Key Takeaway
Homes in Olympia West have sold for 3.8% more than they did a year ago.
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
Key Takeaway
If you're buying a home in Olympia West, you may be able to get a good deal. 36.4% of homes here sold below asking price last month.
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
Key Takeaway
Many homes in Olympia West are selling fast, if you're buying plan to act quickly.
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.
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.