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Olympia WA Real Estate

Olympia's housing options are as diverse as its populace. From the classic craftsman homes along Capitol Way to the waterfront estates lining our Puget Sound inlets, there is really something for everyone when it comes to Olympia WA real estate. This article will outline some of the market trends, lifestyle options, and neighborhoods of Olympia so that when you are ready to find a home and begin browsing Olympia WA real estate options you will be well armed with information.

Like most areas across the country, Olympia WA real estate has been impacted by the financial crisis. Foreclosures have forced prices down throughout most neighborhoods of Olympia. For Sale signs spring up out of almost every street corner. If you listen to the national news you are likely to hear at least one real estate related horro story pretty much every day. But just how hard was the Olympia WA real estate market hit by all of this?

Olympia WA Real Estate Market Trends

The answer to the most popular question in real estate, "how's the market?", really depends on your perspective. Real estate prices are mainly driven by local factors, though interest rates and national trends can have an impact. In terms of Olympia WA real estate even, the answer to that question depends on what segment of the market you are asking about as well as what part of town. The old real estate mantra 'location, location, location' still holds true. While overall statistics will show a declining market, certain pockets of Olympia WA real estate have weathered the storm pretty well. Here is a look at home sales trends in and around Olympia:

Area or Neighborhood
2009 Median Sale Price
2010 Median Sale Price
2009 Units Sold
2010 Units Sold*
NW Olympia, Summit Lake, Steamboat Island
Black Hills, Delphi
West Olympia, Cooper Point
Boston Harbor, South Bay
NE Olympia, Johnson Point
Olympia Eastside, South Capitol Neighborhood
Carlyon, Wildwood, Olympia H.S. area
East Olympia
Central Lacey
East Lacey, Nisqually
SE Olympia, Lake St Clair, Spurgeon Creek

*Data represents single family residential sales as reported to NWMLS, as of 12/7/2010

Olympia WA Real Estate for Your Lifestyle

The eclectic mix of urban housing, low-maintenance bedroom communities, rural acreage, and Olympia waterfront homes will have your head spinning. But once you decide what lifestyle you seek, you are sure to find at least a few homes for sale to choose from within your budget.

People tend to pattern their real estate choices after their lifestyle choices. Olympia WA real estate caters to these lifestyles, and many more: urban living, condominiums, view properties, waterfront properties, lakefront properties, farms and acreage, rural housing, planned developments, gated communities, golf course communities, equestrian properties, historic homes, contemporary architecture, 55 and older communities, manufactured home parks.

Request a list of Olympia WA homes that match your lifestyle and budget

The Perfect Neighborhood for Your Olympia Real Estate Needs

First, we'll look at Olympia WA real estate options for those looking to buy their first home or those just looking for affordable homes. Since 2007, the Olympia WA real estate market has experienced a slight decline like most places across America. This has provided some great options for people looking for Olympia homes under $200,000. Two of the most popular areas in Olympia for people seeking affordable homes are the Olympia Eastside Neighborhood and its counterpart over on Olympia's Westside hill. Both neighborhoods are full of classic homes dating back as far as the early 1900's. Many of the homes are smaller, representing the lifestyle of eras past. It is common to find homes in these neighborhoods ranging from 700-1200 square feet with 2-3 bedrooms. For those seeking a larger home at a reasonable price, new homes have been built in recent years (and are still being built) in Horizon Pointe at the south end of Lacey, in the Hawks Prairie area, and in several Tumwater neighborhoods.

For the buyer looking at homes in the $200,000's you have a wide variety of options, but you can easily find brand new homes in Hawks Prairie, Horizon Pointe, and throughout Tumwater. Or you may opt for one of the larger classic homes in the neighborhoods surrounding downtown Olympia. Acreage in the Steamboat Island or Delphi area is not out of the question either. Many of the established neighborhoods of Olympia will fall in this price range, with the average home coming in right around 2,000 square feet.

From $300,000-500,000 you can get pretty picky and choose from hundreds of beautiful homes. Explore your options in neighborhoods like McAllister Park, Indian Summer, Briggs Village, or Sunrise Ridge. Or look for Olympia waterfront homes with some room for you to add your own touches. The average home in this price range is around 2,500 square feet.

Beyond $500,000 in Olympia WA real estate you are only limited by your imagination. It is not uncommon to find properties available in the million dollar range but few sales occur in that range. Olympia's finest neighborhoods, most magical views, and most pristine Olympia waterfront homes are what you will find over $500,000, with the average home measuring over 4,000 square feet.

Request a list of currently available or recently sold properties for the neighborhood of your choice