Is Tumwater, 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, Tumwater has remained a Seller's Market.
Key Takeaway
Tumwater is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Tumwater, WA cost?
Median Sold Price
$499,950
$257/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Tumwater have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in Tumwater was $499,950 in August 2023, up 2.3% from last year, and the median price per square foot was $257.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | $227.5K | +1.1% |
| 2 Bedrooms | $370K | $370K | 0.0% |
| 3 Bedrooms | $475K | $475K | 0.0% |
| 4 Bedrooms | $525K | $570K | +8.6% |
| 5+ Bedrooms | $600K | $644.9K | +7.5% |
Summary: Tumwater housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 1.1%, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 7.5%.
Median Sold Price Compared To Nearby Cities
| Olympia | $490.3K | $537.4K | +9.6% |
| Olympia West | $565K | $586.5K | +3.8% |
| Tumwater | $488.8K | $499.9K | +2.3% |
Housing Supply
How many homes are available in Tumwater, WA?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 113 | 130 | +15.0% |
Summary: The Tumwater real estate market had 130 homes for sale in August 2023, a 15.0% increase compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 11 | +57.1% |
| 3 Bedrooms | 66 | 71 | +7.6% |
| 4 Bedrooms | 28 | 37 | +32.1% |
| 5+ Bedrooms | 12 | 11 | -8.3% |
Summary: The Tumwater housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 57.1%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 32.1%, and 5+ bedroom homes decreased by 8.3%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 27 | 30 | +11.1% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Tumwater, you could pay more than the asking price. 46.7% of homes here sold above asking price last month.
Summary: A total of 30 homes were sold or pending in Tumwater in August 2023, up by 11.1% month-over-month. Of the 30 sold homes, 37% were sold under asking, 17% were sold at asking, and 47% were sold over asking.
Days on Market
How long does it take to sell a home in Tumwater, WA?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 16 Days | 18 Days | +15.9% |
Summary: Homes in Tumwater had an average of 18 days on market in Aug 2023, up by 15.9% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Tumwater are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 30 homes were sold in Tumwater; 77% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 3% 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.