2025Annual Report
S O U T H W E S T
W A S H I N G T O N
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
ByCounty
C o u n t y
T h u r s t o n
CLOSED SALES PRICE
NWMLSResidential + Condos Stats
$530,000
$510,000 IN 2024
TheMarketataGlance
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
HOMES CLOSED
3,457 3,465
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
THURSTON COUNTY,RESIDENTIAL+CONDOS
New Listings by Month
THURSTON COUNTY,RESIDENTIAL+CONDOS
THURSTON COUNTY,RESIDENTIAL+CONDOS
Closed Sales by Month
THURSTON COUNTY,RESIDENTIAL+CONDOS
L e w i s C o u n t y
MEDIAN PRICE
NWMLSResidential + Condos Stats
$424,990
$420,000 IN 2024 +1.19%
TheMarketataGlance
HOMES CLOSED 2025 2024
1,017
894
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
LEWIS COUNTY,RESIDENTIAL+CONDOS
New Listings by Month
LEWIS COUNTY,RESIDENTIAL+CONDOS
LEWIS COUNTY,RESIDENTIAL+CONDOS
Closed Sales by Month
LEWIS COUNTY,RESIDENTIAL+CONDOS
AboutThurstonCounty
Thurston County offers a unique blend of urban convenienceand natural beauty,making it an ideal place to call home Nestled in the heart of Western Washington, it provides easy access to both Seattleand Tacoma,with Olympia? thestatecapital? serving as the county?s vibrant hub Commuters appreciate the proximity to major highways likeI-5,while those looking for a slower pace enjoy thearea's tight-knit communities,scenic neighborhoods,and abundant outdoor spaces
In 2025,Thurston County experienced notable population growth,with approximately 2,100 new residents relocating to theregion according to the USCensus Bureau This growth aligns with the county's long-standing trend of being oneof Washington State's fastest-growing areas, primarily driven by its proximity to stategovernment jobs in Olympiaand adesirablequality of life
In Thurston County,the median household incomeis
approximately $94,000 as of recent estimates This incomelevel is slightly abovethe national median The county also boasts a homeownership rateof about 67%, with a significant portion of residents owning their homes rather than renting This figurealigns with theoverall trend in suburban areas of Washington,where housing costs are moreaffordable than in nearby urban centers like Seattle
When it comes to commuting,the averagetravel timefor residents is around 27 minutes Whilemany residents commutewithin Thurston County to places like Olympia, Lacey,and Tumwater,anotable percentage travel to neighboring counties,such as Pierce and King,for work
Overall,Thurston County offers abalance of suburban living,reasonable homeownership rates,and manageable commutetimes,making it an attractiveareafor families and professionals alike
AboutLewisCounty
Lewis County,Washington,offers a charming blend of small-town living and natural beauty that appeals to families,retirees,and those looking for a quieter paceof life Nestled between thebustling cities of Seattleand Portland,theareais perfect for thosewho want the conveniences of urban centers within driving distance whileenjoying theserene and close-knit community feel of a rural setting Life in Lewis County tends to move at a slower,moredeliberatepace,allowing residents to enjoy thelittlethings? whether it?s a weekend hikealong the picturesqueWillapaHills State Park Trail or arelaxed afternoon at alocal café
Thecounty is hometo somedelightful parks and recreational areas that makeit ahaven for outdoor enthusiasts Schaefer Park,with its lush greenery and
peaceful walking trails,is alocal favorite,whileRainbow Falls State Park offers stunning waterfalls and great spots for camping and picnicking For dining,The Quincy in Chehalis stands out with its inviting ambiance and local flavors,and Tumac Taproom is a must-visit for craft beer lovers Neighborhoods like Centralia?s historic district and Chehalis?s Hilltop areaare well-loved for their unique charm and tight-knit community vibe Whether you?re seeking scenic beauty,historic charm,or afriendly place to raisea family,Lewis County has it all
OurMission
Providing an unmatched level of service to build community and foster lifelong relationships
OurValues
We are unique inour commitment to:
K N OWL ED GE
Sharing wisdom through experiences
EXCEPT I ON A L S
ERV
I CE
Going further to exceed expectations
R E L 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
OurVision
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.