Median sales price of homes, condos steady in Thurston County

Staff writerJune 5, 2014 

Thurston County’s median sale prices of homes and condos held steady in May while the number of closed sales decreased, according to statistics released Wednesday.

Homes and condos sold for a median price of $225,000, just $500 less than the same time a year ago, data from the Northwest Multiple Listing Service show.

At the median sale price, half the homes sold for more than that amount, and half sold for less.

The Northwest Multiple Listings Service represents 21 counties in Western and Central Washington.

More homes are on the market in Thurston County. Though inventory increased by almost 19 percent compared with a year ago, brokers say competition is fierce.

“Multiple offers and escalation clauses occur on a regular basis for properties that are extremely well-priced and in great condition,” Dick Beeson, principal managing broker at RE/MAX Professionals in Tacoma, said in a NWMLS news release.

Closed sales decreased 3.61 percent compared with the same time last year. Distressed properties – foreclosures or short sales — are still playing a role.

Beeson estimates one of every five homes sold in Thurston, Pierce, Kitsap and Cowlitz counties was distressed, according to the release. In King, distressed properties were only about 1 of every 10 sales.

The economic boom in King and Snohomish counties is reflected in the MLS numbers. The number of homes for sale in Snohomish County increased by 43 percent from a year ago, a number NWMLS officials attribute to new construction.

Single-family homes and condos, May 2013/2014

THURSTON COUNTY

 • Median prices fell 0.22 percent from $225,500 to $225,000

 • Closed sales fell 3.61 percent from 332 units to 320 units

 • Inventory, the number of units for sale, rose 18.82 percent from 1,121 units to 1,332 units

 • New listings rose from 506 units to 602 units

PIERCE COUNTY

 • Median sale prices rose 9.05 percent from $210,000 to $229,000

 • Closed sales rose 1.88 percent from 1,116 units to 1,137 units

 • Inventory rose 21.06 percent from 3,025 units to 3,662 units

 • New listings rose from 1,576 units to 1,873 units

KING COUNTY

 • Median prices rose 6.13 percent from $375,000 to $398,000

 • Closed sales fell 4.96 percent from 3,122 units to 2,967 units

 • Inventory rose 9.19 percent from 4,832 units to 5,276 units

 • New listings rose from 4,352 units to 4,714 units

Source: Northwest Multiple Listing Service Kathleen Cooper: 253-597-8546 kathleen.cooper@ thenewstribune.com

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