November 2019 stats have been released. Below are the numbers in Thurston County for single family residential homes:
Number of homes sold: 389 vs 384 in 2018
Number of pending sales: 412 vs 406 in 2018
Number of new listings: 312 vs 330 in 2018
New listings for new construction: 55
New pending sales of new construction: 57
Median Sale Price: 349,995 vs 317,000 in 2018
Total Active listing on 11/30/19: 396 vs 653 in 2018
What do all these numbers mean? Going back to supply and demand, demand is still very strong as seen in the number of pending sales of 412 and the number of sold homes at 389.
Supply is still extremely low. Only 396 active listings which equates to 1.1 months of inventory. Only 55 new listings for new construction homes but 57 new construction homes went pending, a net loss of new listings.
The imbalance of high demand and low supply results in a higher median sale price of $349,995 vs $317,000 in 2018.
