Is Tumwater, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Tumwater has remained a Seller's Market.
Housing Prices in Tumwater, WA
How much do homes in Tumwater, WA cost?
Median Sold Price
$516,833
$261/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Tumwater was $516,833 in May 2024, up 3.8% from last year, and the median price per square foot was $261.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $190K | $328K | +72.6% |
2 Bedrooms | $376K | $385K | +2.4% |
3 Bedrooms | $483.5K | $493.7K | +2.1% |
4 Bedrooms | $575K | $567.6K | -1.3% |
5+ Bedrooms | $566.4K | $630K | +11.2% |
Summary: Tumwater housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 72.6%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 2.1%, 4 bedroom homes decreased by 1.3%, and 5+ bedroom homes increased by 11.2%.
Median Sold Price Compared To Nearby Cities
Olympia | $511.2K | $546.6K | +6.9% |
Tumwater | $497.9K | $516.8K | +3.8% |
Olympia West | $579.9K | $588.7K | +1.5% |
Housing Supply in Tumwater, WA
How many homes are available in Tumwater, WA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
101 | 106 | +5.0% |
Summary: The Tumwater real estate market had 106 homes for sale in May 2024, a 5.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 10 | 5 | -50.0% |
3 Bedrooms | 47 | 53 | +12.8% |
4 Bedrooms | 32 | 35 | +9.4% |
5+ Bedrooms | 11 | 12 | +9.1% |
Summary: The Tumwater housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
33 | 24 | -27.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in Tumwater in May 2024, down by 27.3% month-over-month. Of the 24 sold homes, 21% were sold under asking, 29% were sold at asking, and 50% were sold over asking.
Days on Market for Tumwater, WA
How long does it take to sell a home in Tumwater, WA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
35 Days | 36 Days | +3.0% |
Summary: Homes in Tumwater had an average of 36 days on market in May 2024, up by 3% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During May 2024, 24 homes were sold in Tumwater; 75% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.