Seattle Bubble has moved! Redirecting...

You should be automatically redirected. If not, visit update your bookmarks.

Off-topic comment? Interesting link?
Head over to the forums, or click here for open threads.

Wednesday, September 07, 2005

Early Slowdown Signs in Olympia

Following up on the Olympia market is today's story in The Olympian: Home sales surge in August

He noted that there were 1,038 homes listed for sale last month, a 9 percent increase from 955 listings a year ago. Also, he said, homes that sold last month were listed an average of 45 days, 8 days longer than in July.

"That's due to a lot of new construction and reflects new developments available in the marketplace," [Jerry] Wilkins [manager of the Olympia MLS] said.
While these are both sure signs of a slowdown, that didn't stop prices from continuing to make record gains.
The region's $237,900 median sales price in August set a record that was 26 percent higher than the $189,500 median price of a year ago.
However, if the increasing inventory is a trend that continues, prices will eventually slow down with it. How long will that take and will it really happen? Who knows.

(Jim Szymanski, The Olympian, 09.07.2005)

1 comment:

Anonymous said...

Yeah, the hissing sound is getting louder. I never understood why housing in Oly was going up so fast, it's not like a lot of industry has been moving to town.