Is Olympia East, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Olympia East is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Olympia East has remained a Seller's Market.

Key Takeaway

Olympia East is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Olympia East, WA

How much do homes in Olympia East, WA cost?

Median Sold Price

$490,789

$268/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$26,189(+5.6%)

Key Takeaway

Homes in Olympia East have sold for 5.6% more than they did a year ago.

Summary: The median home sold price in Olympia East was $490,789 in May 2024, up 5.6% from last year, and the median price per square foot was $268.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $258K$294.4K
+14.1%
2 $377.5K$399.4K
+5.8%
3 $435K$465K
+6.9%
4 $511.5K$539.9K
+5.6%
5+ $549K$537.5K
-2.1%

Summary: Olympia East housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.1%, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes decreased by 2.1%.

Median Sold Price Compared To Nearby Cities

Olympia East
+5.6%
Yelm
+4.5%
Lacey
+3.0%
Fort Lewis-DuPont
+2.2%
Thurston South
0.2%

Housing Supply in Olympia East, WA

How many homes are available in Olympia East, WA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
207229+10.6%

Summary: The Olympia East real estate market had 229 homes for sale in May 2024, a 10.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 66
0.0%
2 2015
-25.0%
3 114122
+7.0%
4 6075
+25.0%
5+ 711
+57.1%

Summary: The Olympia East housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 57.1%.

Number of Homes Sold

Apr 2024May 2024CHANGE
6159-3.3%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

20 Homes Were Sold
At Asking

27 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Olympia East, you could pay more than the asking price. 45.8% of homes here sold above asking price last month.

Summary: A total of 59 homes were sold or pending in Olympia East in May 2024, down by 3.3% month-over-month. Of the 59 sold homes, 20% were sold under asking, 34% were sold at asking, and 46% were sold over asking.

Days on Market for Olympia East, WA

How long does it take to sell a home in Olympia East, WA?

Average Sale Time

May 2023May 2024CHANGE
21 Days25 Days+19.5%

Summary: Homes in Olympia East had an average of 25 days on market in May 2024, up by 19.5% compared to last year.

Breakdown of Home Sale Times

44 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Olympia East are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 59 homes were sold in Olympia East; 75% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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