Although sales eked out an end-of-the-year gain, median prices continued a downward trend, falling 7 percent, the combined single-family-residence and condominium data show.
The combined data show sales increased 5.07 percent to 228 units last month from 217 in December 2010. Median prices fell 7.42 percent to $212,000 from $229,000, and pending sales rose 14.43 percent to 230 units from 201.
Home sales here struggled to show significant monthly gains all year. Sales rose 8 percent in January and plunged through April – falling 27 percent that month – then flattened through September before rising 7 percent in October and 5 percent last month, the combined data show. Median prices also fell throughout the year, but not as sharply as in other Western Washington counties such as in Pierce, where median prices tumbled more than 18 percent in December.
Other Thurston County December data: the number of homes for sale fell 8.44 percent to 1,324 units from 1,446, and new listings last month fell to 211 units from 244.
The Thurston County housing market in the new year will continue to work its way through its existing housing inventory, including its share of short sales and foreclosures. However, don’t expect big swings in prices or sales as the market slowly firms up for a rebound, said Phil Harlan, past president of the Washington Realtors Association. Harlan also is a real estate agent with Keller Williams in Olympia. A short sale occurs when a home is sold for less than the value of the mortgage.
Rolf Boone: 360-754-5403
rboone@theolympian.com
www.theolympian.com/bizblog
