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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Olympia West is a 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

+$21,500(+3.8%)

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

# BEDSAug 2022Aug 2023CHANGE
1 $545K$360K
-33.9%
2 $451.2K$502.5K
+11.4%
3 $574.5K$566.5K
-1.4%
4 $577.7K$664.3K
+15.0%
5+ $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
+3.8%
Tumwater
+2.3%
Thurston South
-0.9%
Kamilche
-6.5%

Housing Supply

How many homes are available in Olympia West, WA?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE
89100+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

# BEDSJul 2023Aug 2023CHANGE
1 21
-50.0%
2 1112
+9.1%
3 5258
+11.5%
4 1923
+21.1%
5+ 56
+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 2023Aug 2023CHANGE
2122+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

Asking vs Sold - buyer

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 2022Aug 2023CHANGE
19 Days23 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

Breakdown of Home Sale Times

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.

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

Report Updated 30 Days Ago

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Nearby Markets

What housing markets are near Olympia West, WA?