Is Olympia, WA 98516 a buyer’s or seller’s market?

The Olympia housing market right now

In the three months ending August 31, 2026, 19% of homes in Olympia, WA 98516 sold above their list price, the typical home went under contract in 25 days and there were 4.1 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 121 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 22%, homes sold more slowly (23 days then) and the median sale price fell 1% to $597,217. Overall, Olympia is less competitive than a year ago, which gives buyers more room.

Within Thurston County, homes here sell more slowly than in 73% of the county’s ZIP codes, and sell less often over asking than in 73%. On our competition score, Olympia ranks #178 of 298 WA ZIP codes with enough sales (score 53 out of 100).

Nearby, buyers who want less competition could look at Bucoda 98530 (0% sold over asking) or Tenino 98589 (14% sold over asking), while Lacey 98503 (29% sold over asking) and Rainier 98576 (28% sold over asking) are even more competitive.