More Homes, Less Competition? Olympia Market Update May 2026

Olympia Real Estate Update May 2026 Moving to Olympia WA? Then you need a local real estate expert's perspective on what's happening in Olympia WA real estate! And yes, I actually live in Olympia! Hi, I’m Scott Tompkins, Your 360 Agent! I live in Olympia, Washington and love educating buyers and sellers! JBLM relocation in your future? I'm an Army veteran and West Point graduate who served in Iraq! This market update covers closed sales that occurred in April 2026 and includes new and existing homes (but not condos) throughout all of Thurston County, Washington, which includes Olympia WA homes, Lacey WA homes, and Tumwater WA homes (plus the smaller municipalities of Yelm, Rainier, Tenino, and Bucoda). Here’s what you need to know about Thurston County real estate this month! 🏡 Median Home Price: $532.6K, up 0.9% (about $4.6K) from last year 📈 Inventory Levels: 46% MORE active listings than last year ⏱️ Average Days on Market: 46 days until seller accepted an offer 💲Percent of List Price Received: 99.8% 📉Percent of Homes with Price Reductions: 28.2% 🗂️Months of Inventory - 2.42 months (last year it was 1.88 months) 💡 What does this mean for YOU? BUYERS ✅Buyers have almost 50% more active homes to choose from than last year! ✅The number of sellers dropping prices fell again this month--they're feeling more confident heading into the summer market! ⭐Interest rates have gone up a bit, and many are feeling uncertain about the economy. Take advantage of this relative lack of competition! SELLERS ✅Months of inventory increased this month. ✅Expect to go under contract in 7+ weeks (on average) 👍Buyers know that there are lots of homes on the market--make yours stand out! ⏱️ JUMP TO WHAT MATTERS TO YOU: 0:00 - Intro 0:28 - New Listings, Active Listings, Pending Sales, Closed Sales 0:43 - The Typical Home in Our Market 0:58 - Inventory Levels; Hot and Cold Locations 1:21 - How Long Homes are Taking to Sell 1:32 - Type Financing Used by Buyers This Month 1:49 - Homes Selling for Under List Price; Median/Average Home Prices 2:31 - Seller Concessions (Paying for Buyer Closing Costs) 2:37 - Price Reductions 2:45 - How Much is a Typical Price Reduction in Our Market? 3:11 - Remember to Like and Subscribe! 3:20 - How Hot is the Market Right Now? 4:16 - Advice for Buyers 4:57 - Advice for Sellers 5:31 - Thanks for Watching! 👉 Thinking of buying or selling an Olympia, Tumwater, or Lacey WA? PCSing to JBLM? Let's talk about the Washington housing market! Reach out to me any time to talk about your specific situation! 📞 Text/Call: (360) 951-0366 📧 Email: [email protected] 🌐 www.my360agent.net Happy House Hunting! Scott Scott Tompkins, REALTOR® - Your 360 Agent Managing Broker, ABR, PSA, MRP, ePRO, Army Veteran/West Point '93 Realty One Group Bold - Equal Housing Opportunity 5215 Corporate Center Ct Ste A Lacey, WA 98503 #ScottTompkins #Your360Agent #ScottTompkinsRealtor #OlympiaRealEstate #OlympiaWashington #ThurstonCountyHomes #MovingToOlympia #LivingInOlympia #PCSSeason #MilitaryRelocation #VALoan #JBLMHousing #WashingtonHomes #FirstTimeHomeBuyer #OlympiaLiving #RelocatingToWashington #BuyingAHomeinWashington