Residential sales jump, median price falls in Thurston County

The residential housing market heated up in the final days of winter and early part of spring, as home sales jumped amid a slight decrease in the median price.

Single-family home sales surged more than 18 percent to 280 in March from 237 in March 2025, according to the Northwest Multiple Listing Service’s (NWMLS) Monthly Market Update for March 2026.

At the same time, the median price for residential homes dipped to $540,300 from $550,000. That marked a decrease of 1.76 percent in the period.

The dropoff in the condominium market was more severe, as the median price plunged 23.29 percent to $279,975 in March from $365,000 in March 2025. 

The condo market, which has routinely posted total monthly sales in the high single digits to low double digits over the course of the last year, recorded 12 sales in March, up from nine in March 2025.

Condo and home sales have been influenced by low inventory levels in the region. While total inventory climbed to 3.4 months in January, it retreated to 2.59 months in February and lower yet in March at 2.09 months. That ranked the Thurston County market as the fourth lowest in the state.

Kitsap County ranked lowest at 1.57 months of inventory, followed by Snohomish County at 2.04 months and Pierce County at 2.07 months. Cowlitz County rounded out the top five at 2.42 months of inventory.

“A balanced market is considered to be (four) to (six) months by most industry experts,” said the Northwest Multiple Listing Service in its Monthly Market Update. “At the current rate of sales, it would take a little less than three months (2.78) to sell every home that is active in the NWMLS inventory.”

Active residential and condo listings remained stout with 610 in March, up from 468 in March 2025. That marked a gain of 33.01 percent in the period.

New residential listings climbed to 418 in March from 364 in March 2025, while new condo listings sank to 16 from 29 at the same time.

And in a sign that sold residential listings could be strong in April, pending sales increased to 405 in March from 359 in March 2025. Pending condo sales were flat at 12 in the same period.