Thurston County Market News

By
Real Estate Agent with Riley Jackson Real Estate Inc.

 Home sellers sigh about having to lower their sales prices. Current local home inventory is 35% up from last year and the number of buyers has dramatically diminished due to the shake-up of the sub-prime lending market. The average number of days a home is on the market is currently at 85 days YTD, compared to an average of 66 days in 2006.

Sounds too depressing? 

How does this sound?

Closed home sale prices are up over 6% from last year. There are currently 97 single family homes for under $200,000 on the market in Thurston county (excludes manufactured homes). Big outfits, such as Great Wolf Lodge and Cabela's are attracted by the economic vitality of our region.

I tend to be an optimist and appreciate that some balance has returned to the market. Yes it has cooled off, but when it cools from 90 degrees to 75 degrees, it brings relief from the extreme. Another nice side effect of this adjustment is that it will thin out the Realtor ranks. Many who joined our profession in the hot market years just to make a quick buck, without possessing competence or investing in education, will find it difficult to compete for clients at this point.

Sandy Nelson
Realtor for Olympia Area Real Estate
www.sandynelsonrealestate.com

Riley Jackson Real Estate Inc.

 

 

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Rainer
27,774
Darrel Quebedeaux
Evergreen Realty & Associates Inc. - Newport Coast, CA
Cooling is good.  This is cleaning out the arena of many of the agents who entered into the field for the dream of fast money and also the flippers who have no business in the construction business and the speculators who needlessly drive the prices up.  In the end when the dust settles all will be better off.  Especially those of us who work at this business and care for our clients needs and welfare.
Jul 27, 2007 02:17 AM #1
Rainmaker
289,500
Sandy Nelson
Riley Jackson Real Estate Inc. - Olympia, WA
your Olympia area Realtor

I couldn't agree more, Darrell.

Jul 27, 2007 10:26 AM #2
Rainer
71,648
Larry Wright
nwRealty.Com - Tacoma, WA
Darrel and Sandy hit it on the nose.  This market is more realistic than what we've seen for a long time.
Jul 27, 2007 11:04 AM #3
Rainer
33,629
Melissa Olson
HOPE Lending LLC - Bellevue, WA
HOPE Lending LLC
Sandy - Yes, I am happy to see this thin out the not so hard working people in our industry also!
Jul 28, 2007 02:53 PM #4
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Rainmaker
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Sandy Nelson

your Olympia area Realtor
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