7 things to know about the Thurston County housing market
The Thurston County housing market is moving along at a very different pace than it was even six months ago. In December, the number of sales fell, inventory rose, median price appreciation softened and interest rates remained higher than a year ago, according to new data released Friday by Northwest Multiple Listing Service.
What was the housing market like before?
Up until late last summer, the housing market was roaring along. There was little inventory, mortgage interest rates were low and there was plenty of demand, which meant the median price of a home steadily escalated. The median price of a Thurston County home hit an all-time high of $525,000 last June.
Combined Home, Condo Sale Price Dips in Pierce, Rises In Thurston
From South Sound Business:
December’s median sales price of single-family homes and condominiums combined fell 2.9 percent in Pierce County and rose 3 percent in Thurston County from December 2021, hitting $500,000 and $494,500, respectively, according to figures released today by the Northwest Multiple Listing Service.
In Pierce County, the median sales price for single-family homes, excluding condos, fell 3 percent, to $504,500. The median in Thurston County rose 3.2 percent to $497,500.
In Thurston County, the Black Hills area recorded the county’s highest median sales price for single-family homes, $710,000, up 81.8 percent on seven closings.