More homes go on market

The number of Thurston County homes newly listed for sale last month rose above 500 units, likely the result of sellers wanting to take advantage of tax incentive programs and lower prices or those needing to sell their houses or condos because of falling property values, new data show.

The 505 homes newly listed in January marked a 4 percent increase from the 484 newly listed in January 2009, according to Northwest Multiple Listing Service data released this week. The data are combined figures for single-family residences and condominiums.

The year-over-year median price in January fell 6.23 percent to $225,000 from $239,950, while the number of homes that sold last month fell 19 percent to 143 units from 177 units in the same period a year ago. The 505 homes listed for sale in January pushed total existing listings to 1,526, still down about 3 percent from the 1,584 listings reported in January 2009, the combined data show.

Median price means half the homes sold for more and half for less.

Real estate broker Ken Anderson, the owner of Coldwell Banker Evergreen Olympic Realty, said he was encouraged by the county’s pending sales, which rose nearly 4 percent last month to 302 units from 291 units last year, he said.

Although fewer homes sold last month, an increased number of pending sales likely will result in more closed sales in February or March, Anderson said.

The higher number of new listings last month also means there are sellers who need to get out of their houses, said Doug Burger, owner and broker of Burger Professionals.

“Some sellers have been hanging on for as long as they can, and then they call us because they are upside down on their house,” Burger said. “Upside down” typically means the house is worth less than the value of the mortgage.

Rolf Boone: 360-754-5403

rboone@theolympian.com