Thurston County sees higher home sale prices in June

Staff writerJuly 4, 2014 

Western Washington’s real estate market continued its steady improvement in June, data released Thursday show.

Median sale prices for single family homes and condos rose year-over-year between 5 percent and 7 percent in King, Pierce and Thurston counties. Pierce’s median sales price in June was almost $230,000. Thurston’s hit $236,000. At the median price, half the homes sold for more than that amount, and half sold for less.

More homes are on the market, too, according to data from the Northwest Multiple Listing Service, with Pierce and Thurston approaching four months’ worth of inventory. A market is considered to be balanced — not weighted in favor of buyers or sellers — if there is a 4- to 6-month supply of homes for sale.

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

Brokers across Western Washington continue to report increased activity, both from buyers and sellers, though they acknowledge the pace changes neighborhood by neighborhood. As usual, Seattle is a hotbed of activity.

“Brokers in the Seattle market are keeping busy as multiple offers and cash buyers dominate new, well-prices listings in most markets,” said John Deely of Coldwell Banker Bain, in a news release. Deely says the market for homes priced $1 million and above is experiencing pending sales volume at levels not seen since 2007.

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