Is It Finally Turning Into a Buyer's Market in Olympia and Thurston County?

The Market Is Shifting. Here's Why That Could Be Good News for You.

If you've been watching the housing market over the last few years and feeling like the deck was stacked against you, I want you to take a fresh look. Something has been quietly changing here in Thurston County, and it's tipping things in the buyer's direction.

What's actually happening.

Let's start with the numbers, because I'd rather show you than tell you.

In August, there were about 1,155 homes for sale in Thurston County. A year ago, there were about 867. That's roughly a third more homes to choose from. At the same time, pending sales dipped about 10% compared to last August.

More homes, fewer buyers competing for them. That's the shift.

Real estate folks measure this with something called "months of inventory," which is how long it would take to sell every home on the market at the current pace. Back in March, we were sitting at about 2 months. By August, we'd climbed to about 3.6 months. A balanced market is generally considered 4 to 6 months, so we're not quite there yet, but we're heading that way, and it's been a steady climb all summer.

Prices, by the way, are holding steady. The median sale price in August was $535,000. So this isn't a market in freefall. It's a market that's catching its breath.

Yes, rates are higher.

I won't sugarcoat it. Mortgage rates have climbed this fall. The national average for a 30-year fixed was 7.28% as of October 1, up from around 6.3% this time last year. That's real, and it matters for your monthly payment.

But here's the thing I tell every buyer I work with: the rate is only one piece of the picture.

Where the opportunity is.

When rates go up, a lot of buyers hit pause. That means the buyers who stay in the game get something they haven't had in years: breathing room.

Here's what that can look like:

You get time to think.

Remember when homes were gone in a weekend? Now you can often see a home twice, sleep on it, and bring your family through before making a decision.

You get to negotiate.

With less competition, sellers are more open to conversations about price, repairs, closing costs, and timelines. Inspections are back on the table in a meaningful way.

Seller credits can help with your rate.

One of my favorite tools right now is asking the seller to contribute toward a rate buydown or closing costs. That can bring your payment down in a way that a lower price alone sometimes can't.

You get choices.

More inventory means you're not settling for the only house that came up in your price range this month. You can be a little picky, and you should be.

The price you pay is permanent. The rate may not be.

If rates come down in the future, refinancing may be an option. The purchase price, though, is locked in forever. Buying when there's room to negotiate can make a real difference over the life of your loan. (Every situation is different, so this is a great conversation to have with a trusted lender.)

What about sellers?

If you're thinking about selling, this shift doesn't mean bad news. It means strategy matters more than ever. Pricing right from day one, presenting your home beautifully, and marketing it thoughtfully are what set homes apart when buyers have options. That's exactly the kind of work I love.

So, is now a good time?

The honest answer is: it depends on you. Your goals, your timeline, your budget. But if you've been waiting for a moment when buyers have a little more say, this is the closest we've been in a while.

Why your team matters more than ever.

In a shifting market, the right people in your corner can make all the difference. And honestly? Not all agents and lenders are created equal.

Partner with an agent who's in the market every day.

Markets like this one change week to week. An agent who is out there daily, touring homes, talking with other agents, and watching what's actually selling (and what's sitting) can spot opportunities that don't show up online. They'll know when a seller is ready to negotiate, which homes are priced right, and how to write an offer that gets you the best possible terms. That kind of insight only comes from being in it, every single day.

Choose a lender who's a true partner.

Your lender does so much more than get you a rate. A great lender will walk you through your options, explain how things like seller credits and rate buydowns could work for you, communicate clearly with everyone involved, and help your offer stand out to sellers. A lender who is responsive and local-savvy can be the difference between a smooth closing and a stressful one.

When your agent and lender work well together, you get a team that's looking out for you at every step. That's when the opportunity in this market really opens up.

If you'd like to talk through what this market means for your plans, I'd love to grab a coffee and walk through it together. No pressure, just a real conversation about your next step home.