Olympia, the capital of Washington state, is nestled between the Puget Sound and the Olympic Mountains range to the west of Seattle. Olympia, WA sits in an especially ideal location for residents; to its north lies downtown Seattle. To its east are the beautiful Olympic Mountains, and just south of Olympia is the beautiful water-side town of Shelton.
Real estate in Olympia, WA was on its way to an all-time high this year. Washington state was one of the fastest-growing states in America, and Olympia was certainly reaping its fair share of that growth. Let's look over some of the housing updates from Olympia, WA, as of this year.
Quick Facts:
- With an estimated population of 299,496
- The cost of living is 11.9% higher than the US average.
- The median home price is $490,000, with an 18.1% increase year-over-year.
- With an average price per square foot of $252.
- The median square footage of a single-family home is 1,740.
- Recently had its most significant monthly rental growth rate, up 5.1%.
Olympia, WA in a Nutshell
Olympia, Washington, is truly a great city to build your family home. It is only 20.9 square miles in size, so it's not too crowded or too busy. Surrounded by parks, family-friendly activities, and a vibrant downtown area; it is simply a joy to live in for the right people.
Economy
The economy of Olympia is one thing to be excited about. Recently trailed to have a massive improvement in employment, the economy in Olympia is trending up.
Employment
As mentioned, employment is peaking upwards. So, with a 5.8% growth this year, the economy is only expected to continue to grow.
Expected job growth in Olympia is much higher than the Washington state average. This means that there will be more opportunities for families and also likely continue to be a positive influence on the housing market.
Schools
Here are some top schools you want to consider when moving into Olympia:
- Roosevelt Elementary School
- Jefferson Middle School
- Olympia High School
- Capital High School
- Pioneer Elementary School
Real Estate in Olympia, WA
The housing market in Olympia is taking off! With an average price per square foot of 252, the housing costs are pretty high.
With a strong economy, the real estate market in Olympia remains firm. According to Redfin, a listing from Olympia only takes an average of 6 days to sell, and most of them get multiple offers.
Real Estate Trends
Olympia's housing market has been on the rise this year. The housing market is showing no signs of slowing down anytime soon, as Olympia's market trends show its growth has outpaced the national average.
As of now, buyers looking to purchase Olympia real estate should be prepared for an approximately 18% increase in values. Therefore, if you are looking to build your family home in Olympia, now is the time to buy!
Final Thoughts
As we can see, Olympia is a city with positive growth. As such, the housing market there remains strong, and the economy has no signs of slowing down. Even with a slightly higher cost of living, Olympia remains a prime location for real estate and a great place to build your family home.
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