Thurston County Inventory Absorption Rate

GOOD NEWS FOR THE THURSTON COUNTY HOME MARKET!

Inventory of active listings is at a recent record low at 1626 active listings on March 16th, 2008, versus 2052 active listings on November 10th, 2007. At the same time the amount of average sales per month over the past 12 months has gone up from 336 average sales per month in November to 378 average sales per month in March.

What do these statistics mean? A standing inventory of greater than four months generally indicates a buyer's market. Inventory of less than three months typically indicates a seller's market. The trend shows that we're approaching well balanced market conditions.

With shrinking inventory, buyers who are actively in the market should take advantage of the low interest rates and make their purchases. While in some cases now may still be a time to be able to ask for sellers' concessions, with homes in more demand, this time may come to an end soon.

Sandy Nelson
Realtor for Olympia Area Real Estate
www.sandynelsonrealestate.com