Annual Report 2025

2025Annual Report S O U T H W E S T W A S H I N G T O N

AsUniqueastheNorthwest

January 2026

What's Happening in the Market?

As we reflect on 2025, I am proud to look back on a year defined by resilience, steady progress, and meaningful growth? both across Washington?s real estate market and within Olympic Sotheby?s International Realty.

Throughout much of Washington, the 2025 housing market transitioned further into a phase of normalization. After several years of rapid appreciation and constrained supply, the market demonstrated a more measured pace, marked by stable demand, moderating price growth, and gradually improving inventory.

In Thurston County, home values remained well supported, with modest appreciation reflecting continued buyer confidence despite affordability pressures. Lewis County showed a slightly different but equally healthy profile, with both listings and closed sales rising meaningfully in 2025. Across both counties, the message was clear: well-presented, correctly priced homes continued to perform, and professional guidance mattered more than ever.

Against this backdrop, Olympic Sotheby?s International Realty experienced one of the most successful years in our company?s history. We

Warm regards,

Jim Greene Owner, Designated Broker

welcomed a number of talented new agents to our brokerage, strengthening our presence and expanding the depth of expertise we offer our clients. 2025 also marked the first full year of operations for our Lewis County office? an important milestone that reflects our long-term commitment to serving communities throughout the region.

These accomplishments are not accidental. They are the result of a shared commitment to professionalism, collaboration, and delivering a level of service that aligns with the Sotheby?s International Realty® brand. I am deeply grateful to our agents and staff for their dedication, adaptability, and integrity, and to our clients for the confidence they place in us during some of life?s most important decisions.

As we look ahead to 2026, we do so with optimism and focus. While the market may continue to reward patience and strategy over speed, our mission remains unchanged: to lead with expertise, serve with care, and set the standard for real estate excellence in Washington.

Thank you for being part of our continued success.

MEDIAN SOLD PRICE

By County For Residential + Condo Listings for 2025

Thurston County

CLOSED SALES PRICE

HOMES CLOSED

NWMLS Residential + Condos Stats

2025 vs. 2024 (Residential+Condos)

$530,000 $510,000 IN 2024

2025

2024

3,457 3,465

+3.92%

* NWMLS Residential + Condos Stats for Thurston

TheMarket at aGlance Thurston County?s residential home and condominium market heads into 2026 with a clear theme: prices stayed resilient, demand held steady, and inventory loosened just enough to give buyers a bit more breathing room without tipping the market into a true balance. In 2025, the county?s median closed sale price rose to about $530,000, up from roughly $510,000 in 2024, a year-over-year gain of 3.92%. That appreciation wasn?t evenly distributed throughout the year. The strongest price lifts showed up early? January posted the biggest jump (up nearly 10% from the prior year), and the market reached its high point around June (near $550,000). After that, prices cooled modestly through late summer, with some months nearly flat year-over-year. The takeaway is less about rapid growth and more about ?sticky?pricing: values are still supported, but the market is no longer accelerating the way it did during the most competitive years.

Sales activity reinforces that picture of stability. Total closed sales in 2025 were essentially unchanged from 2024 (3,457 versus 3,465, a negligible 0.23% dip). In other words, demand did not fall out of the market? buyers remained active, and the typical seasonal rhythm held: quieter in winter, stronger through late spring and summer. Where the story shifts is on the supply side. New listings increased meaningfully in 2025, totaling 4,593 compared with 4,163 the year before? up 10.33%. Several months showed especially large listing gains, including early-year and mid-summer surges, suggesting more

homeowners chose to test the market and more options became available to buyers.

That increased flow of listings translated into slightly higher inventory, but not enough to change the market?s character. Months of inventory? a common measure of market balance? mostly hovered between about 2.0 and 2.7 months throughout the year, with a brief peak to roughly 3.03 months in November before dropping back to around 2.35 months in December. Those are still low levels by historical standards; a more balanced market is often considered closer to 4?6 months of inventory. For 2026, that combination points to a market that remains seller-leaning overall, while becoming more selective in practice. Well-presented, correctly priced homes? especially in desirable locations or in move-in-ready condition? are likely to continue attracting strong interest. At the same time, buyers may find more opportunity to negotiate on properties that are overpriced, dated, or have functional drawbacks, particularly during slower seasonal periods.

In short, Thurston County appears poised for a steadier, more measured 2026: supported prices, stable demand, and a market where strategy and preparation matter more than ever on both sides of the transaction.

Median Closed Sales Price by Month THURSTON COUNTY, RESIDENTIAL+CONDOS

New Listings by Month THURSTON COUNTY, RESIDENTIAL+CONDOS

Months of Inventory THURSTON COUNTY, RESIDENTIAL+CONDOS

Closed Sales by Month THURSTON COUNTY, RESIDENTIAL+CONDOS

LewisCounty

MEDIAN PRICE

HOMES CLOSED

NWMLS Residential + Condos Stats

2025 vs. 2024 (Residential+Condos)

$424,990

2025

2024

$420,000 IN 2024 +1.19%

1,017 894

TheMarket at aGlance Lewis County?s residential market moved through 2025 with more activity on both sides of the transaction, and that mix of higher supply and higher demand offers a useful preview of what 2026 may look like. New listings totaled 1,513 for the year, up 12.49% from 1,345 in 2024.

The seasonal rhythm was familiar: listing volume surged in spring and early summer (172 in April and a peak of 201 in May) before easing through late fall and winter. For buyers, that rise in seller participation mattered because it expanded options and reduced the pressure to rush on the first available home.

Demand, however, did not fade. Closed sales rose to 1,017 units in 2025, up 13.76% from 894 in 2024. Monthly results show a market that didn?t move in a straight line? April and May ran below last year? but the second half strengthened meaningfully. September delivered the sharpest gain (111 sales versus 66 in 2024), and the year ended with a strong December (97 versus 64). In practical terms, more homes came to market and more homes successfully changed hands, suggesting buyer interest remained present and ready to act when the right home appeared.

Prices were stable rather than dramatic. The median closed price for the year was $424,990, a modest 1.19% increase from $420,000 in 2024. That ?flat-to-slightly-up? result is consistent with a market where buyers can negotiate on homes that miss the mark on condition, pricing, or overall appeal, while well-presented listings still

earn attention. Monthly medians moved with the mix of properties selling? from $388,200 in January to $452,500 in November? but the annual change points to stability, not a boom-and-bust environment.

Inventory confirms the same balanced picture. Months of inventory hovered mostly in the 4?5 month range, peaking at 5.10 in July and 5.09 in August when active listings were highest (454?463). That level is near neutral: enough supply for buyers to be selective, but not enough to create widespread downward pressure on values. By year-end, active listings fell to 293 while sales remained brisk (97 in December), tightening months of inventory to 3.02 and showing how quickly the market can firm up when demand concentrates on the best listings.

Looking into 2026, the data points to a market defined by steadiness and strategy. If listing activity stays elevated while sales remain strong, prices should continue to trend modestly rather than spike or slide. Sellers can?t assume every home will sell instantly, but they can expect strong outcomes when pricing is realistic and presentation is dialed in.

Buyers should plan for more choice during the spring and summer surge, while staying ready for competition on the homes that are priced right and show well.

Median Closed Sales Price by Month LEWIS COUNTY, RESIDENTIAL+CONDOS

New Listings by Month LEWIS COUNTY, RESIDENTIAL+CONDOS

Months of Inventory LEWIS COUNTY, RESIDENTIAL+CONDOS

Closed Sales by Month LEWIS COUNTY, RESIDENTIAL+CONDOS

About Thurston County Thurston County offers a unique blend of urban

approximately $94,000 as of recent estimates. This

convenience and natural beauty, making it an ideal place

income level is slightly above the national median. The

to call home. Nestled in the heart of Western Washington,

county also boasts a home ownership rate of about 67%,

it provides easy access to both Seattle and Tacoma, with

with a significant portion of residents owning their homes

Olympia? the state capital? serving as the county?s

rather than renting. This figure aligns with the overall trend

vibrant hub. Commuters appreciate the proximity to major

in suburban areas of Washington, where housing costs are

highways like I-5, while those looking for a slower pace

more affordable than in nearby urban centers like Seattle.

enjoy the area's tight-knit communities, scenic neighborhoods, and abundant outdoor spaces.

When it comes to commuting, the average travel time for residents is around 27 minutes. While many residents

In 2025, Thurston County experienced notable population

commute within Thurston County to places like Olympia,

growth, with approximately 2,100 new residents relocating

Lacey, and Tumwater, a notable percentage travel to

to the region according to the US Census Bureau. This

neighboring counties, such as Pierce and King, for work.

growth aligns with the county's long-standing trend of being one of Washington State's fastest-growing areas, primarily driven by its proximity to state government jobs in Olympia and a desirable quality of life.

In Thurston County, the median household income is

Overall, Thurston County offers a balance of suburban living, reasonable homeownership rates, and manageable commute times, making it an attractive area for families and professionals alike.

About LewisCounty Lewis County, Washington, offers a charming blend of

peaceful walking trails, is a local favorite, while Rainbow

small-town living and natural beauty that appeals to

Falls State Park offers stunning waterfalls and great spots

families, retirees, and those looking for a quieter pace of

for camping and picnicking. For dining, The Quincy in

life. Nestled between the bustling cities of Seattle and

Chehalis stands out with its inviting ambiance and local

Portland, the area is perfect for those who want the

flavors, and Tumac Taproom is a must-visit for craft beer

conveniences of urban centers within driving distance

lovers. Neighborhoods like Centralia?s historic district and

while enjoying the serene and close-knit community feel of

Chehalis?s Hilltop area are well-loved for their unique

a rural setting. Life in Lewis County tends to move at a

charm and tight-knit community vibe. Whether you?re

slower, more deliberate pace, allowing residents to enjoy

seeking scenic beauty, historic charm, or a friendly place

the little things? whether it?s a weekend hike along the

to raise a family, Lewis County has it all.

picturesque Willapa Hills State Park Trail or a relaxed afternoon at a local café.

The county is home to some delightful parks and recreational areas that make it a haven for outdoor enthusiasts. Schaefer Park, with its lush greenery and

Our Mission Providing an unmatched level of service to build community and foster lifelong relationships.

Our Values We are unique in our commitment to:

K N OW L ED GE Sharing wisdom through experiences EX C EP T I O N A L S ERV I C E Going further to exceed expectations REL I A B I L I T Y Timeless dedication you can trust COM M UN I T Y Caring for our neighbors with generosity J OY Sharing our spirit of positivity

Our Vision To grow Olympic Sotheby's International Realty into the region's premier real estate company by offering innovation, collaboration, and unmatched service to our brokers, staff, and community.

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