{"id":333,"date":"2006-08-14T04:53:00","date_gmt":"2006-08-14T11:53:00","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=333"},"modified":"2006-08-14T04:53:00","modified_gmt":"2006-08-14T11:53:00","slug":"olympia-inventory-substantially-higher","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2006\/08\/14\/olympia-inventory-substantially-higher\/","title":{"rendered":"Olympia Inventory "Substantially Higher""},"content":{"rendered":"

Here’s another report out of Olympia, on the significant cool-down that housing is experiencing there<\/a>.<\/p>\n

As the South Sound real estate market cools from overheated to warm, sellers are increasingly offering price reductions in order to speed up sales.<\/p>\n

Real estate agents say the recent appearance of homes marked as “Price Reduced” indicates that this summer’s housing market is cooler compared with a year ago.<\/p>\n

Last summer, the Thurston County housing market was so active that it was common for homes to sell before they were listed.<\/p>\n

But this summer, inventory levels and interest rates are higher, and newly constructed homes continue to come onto the market, contributing to longer selling times.<\/p>\n

In July, there were 1,633 active listings, compared with 1,031 for the same period last year, according to the Olympic Multiple Listing Service.<\/p>\n

Some agents, though, speculate that because builders don’t always list all of their new homes, inventory levels could be much higher, in the range of 2,200 to 2,500 homes.<\/p><\/blockquote>\n

Obviously they’re not to the “meltdown” point yet, as the median price is still going up (although quite a bit more slowly than in King County—just 5% from January<\/a> to July<\/a>). But with the number of listings increasing this fast, and more new construction coming on the market every month, will Thurston be the first Puget Sound county to turn?<\/p>\n

(Rolf Boone, The Olympian<\/a>, 08.13.2006<\/i>)<\/p>\n

Please read the rules<\/a> before posting a comment.<\/div>\n
\n
Seattle Bubble Tip Jar<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Here’s another report out of Olympia, on the significant cool-down that housing is experiencing there. As the South Sound real estate market cools from overheated to warm, sellers are increasingly offering price reductions in order to speed up sales. 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