RE/MAX Parkside - Nancy Griego (360) 870-9770

RE/MAX Parkside - Nancy Griego Blog

Latest Postby Nancy Griego

Olympia Market Snapshot

Olympia Home Prices & Values

$226,000 Zillow Home Value Index

 

The median home value in Olympia is $226,000. Olympia home values have gone up 3.7% over the past year and Zillow predicts they will rise 3.4% within the next year. The median list price per square foot in Olympia is $139, which is higher than the Olympia Metro average of $133. The median price of homes currently listed in Olympia is $239,950 while the median price of homes that sold is $233,575. The median rent price in Olympia is $1,195, which is lower than the Olympia Metro median of $1,295.

Foreclosures will be a factor impacting home values in the next several years. In Olympia 10.9 homes are foreclosed (per 10,000). This is greater than the Olympia Metro value of 7.5 and also greater than the national value of 4.8

 

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Olympia is 5.2%, which is lower than the national value of 7.2%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Olympia homeowners underwater on their mortgage is 20.7%, which is lower than Olympia Metro at 29.6%.


Continue Reading >