Thursday, October 1, 2026
The Thurston County housing market produced higher prices and fewer sales for the second straight month of 2025, as inventory levels continue to be among the lowest in the state.
The median price for residential homes climbed to $530,000 in February from $499,900 in February 2024, according to the Northwest Multiple Listing Service’s Monthly Market Update. That marked an increase of 6.02 percent in the period.
At the same time, the residential market recorded 202 sold listings, compared with 204 sold listings.
The condominium market continued to stumble along this year, as the median price sank to $322,000 in February from $401,950 in February 2024. That marked a decrease of 19.89 percent in the period.
But sales were far worse, at least on a percentage basis, as a total of seven condos exchanged hands in February, down from 14 in February 2024. That marked a decrease of 50 percent in the period.
The mixed bag of data came amid a backdrop of continued low inventory levels in the region. A total of 2.04 months of inventory existed in February, which ranked Thurston County as second lowest among the 39 counties in the state of Washington.
Snohomish County ranked lowest at 1.44 months of inventory, while Pierce County was third at 2.07 months. King County was fourth lowest at 2.14 months and Kitsap County was fifth at 2.15 months.
“A balanced market is considered to be (four) to (six) months by most industry experts,” the Northwest Multiple Listing Service (NWMLS) said in its Monthly Market Update.
“At the current rate of sales, it would take less than two and a half months (2.45) to sell every home that is active in the NWMLS.”
There were a total of 397 active listings in February, compared with 342 in February 2024. Active condo listings were unchanged at 30.
New residential listings weighed in at 249 in February, down from 302 in February 2024. At the same time, new condo listings swooned to 12 from 21.
Pending residential sales stood at 255 in February, compared with 295 in February 2024, while pending condo sales were unchanged at 15.
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BobJacobs
The percentage changes for condo sales are meaningless because the number of units to so small.
Bob Jacobs
Tuesday, March 18, 2025 Report this
Dogmom
The market will probably pick up with interest rates coming down, but I don't believe that we have a shortage of homes for sale, it's that the average person can't afford these exuberant home prices. The government keeps talking about building affordable homes but all the Legislature & City Councils do is raise costs for builders & people trying to buy or build. If they were really serious about making homes more affordable, they would cut impact fees, taxes, & regulations in order to accomplish what they supposedly care about.
Tuesday, March 18, 2025 Report this