The final full month of summer was one of the best months of the year for the Thurston County real estate market as sales and prices rose sharply, new Northwest Multiple Listing Service data show.
Sales rose nearly 18 percent in August to 361 units from 306 units in August 2012, the combined single-family residence and condominium data show.
Prices and pending sales also rose in the year-over-year August period, with median prices climbing 7.8 percent to $235,000 from $218,000, while pending sales rose nearly 5 percent to 410 units from 391 units, according to the combined data.
But inventory levels, which had recently fallen and helped to drive median prices higher, suddenly were higher last month than they were a year ago.
The number of homes for sale — for the first time this year — actually rose, increasing 3.12 percent to 1,355 units last month from 1,314 units in August 2012, the combined data show.
Inventory levels likely are higher because the improved state of the market has encouraged sellers and builders to get more product onto the market.
New listings in August, the combined data show, rose to 509 units from 399 units.
Thurston County single-family residence data for August 2013/2012:
• Sales rose 15.77 percent to 345 units from 298 units.
• Prices rose 7.9 percent to $237,500 from $219,975.
• Pending sales rose 4.76 percent to 396 units from 378 units.
• Number of residences for sale rose 3.89 percent to 1,308 units from 1,259 units.
• New listings in August rose to 495 units from 388 units.
Thurston County condominium data for August 2013/2012:
• Sales rose to 16 units from eight units.
• Prices rose 7.74 percent to $129,825 from $120,500.
• Pending sales rose to 14 units from 13 units.
• Number of condos for sale fell to 47 units from 55 units.
• New listings in August rose to 14 units from 11 units.Rolf Boone: 360-754-5403 firstname.lastname@example.org Source: Northwest Multiple Listing Service