Is Olympia, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Olympia has remained a Seller's Market.
Key Takeaway
Olympia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Olympia, WA
How much do homes in Olympia, WA cost?
Median Sold Price
$545,780
$291/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Olympia have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in Olympia was $545,780 in April 2024, up 7.7% from last year, and the median price per square foot was $291.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $266.5K | $312K | +17.1% |
| 2 Bedrooms | $415K | $435K | +4.8% |
| 3 Bedrooms | $500K | $519.6K | +3.9% |
| 4 Bedrooms | $575K | $623.8K | +8.5% |
| 5+ Bedrooms | $610.8K | $606.2K | -0.8% |
Summary: Olympia housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.1%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes decreased by 0.8%.
Housing Supply in Olympia, WA
How many homes are available in Olympia, WA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 403 | 478 | +18.6% |
Summary: The Olympia real estate market had 478 homes for sale in April 2024, a 18.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 13 | +30.0% |
| 2 Bedrooms | 56 | 73 | +30.4% |
| 3 Bedrooms | 213 | 237 | +11.3% |
| 4 Bedrooms | 96 | 121 | +26.0% |
| 5+ Bedrooms | 28 | 34 | +21.4% |
Summary: The Olympia housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 30%, 2 bedroom homes increased by 30.4%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 26%, and 5+ bedroom homes increased by 21.4%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 104 | 120 | +15.4% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
45 Homes Were Sold
At Asking
46 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Olympia, you could pay more than the asking price. 38.3% of homes here sold above asking price last month.
Summary: A total of 120 homes were sold or pending in Olympia in April 2024, up by 15.4% month-over-month. Of the 120 sold homes, 24% were sold under asking, 38% were sold at asking, and 38% were sold over asking.
Days on Market for Olympia, WA
How long does it take to sell a home in Olympia, WA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 35 Days | 30 Days | -11.9% |
Summary: Homes in Olympia had an average of 30 days on market in Apr 2024, down by 11.9% compared to last year.
Breakdown of Home Sale Times
91 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
15 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Olympia are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 120 homes were sold in Olympia; 76% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 13% 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.