What's Hot in Waterfront Property for Thurston County, WA

Homes on the water in Thurston County, WA, have experienced a substantial increase in home sale prices over the last half-decade. So much so, that the median sold price for waterfront property in the county increased 34.26% from 2016 to 2020. If the median sold price from the first quarter of 2021 holds for the remainder of the year, sales prices will have increased more than 61.81% since 2016 and just over 29% in the space of only a year.

On top of that, waterfront housing inventory in Thurston County is in limited supply. It remains true, however, that some waterfront homes are more attractive to buyers — and more lucrative for sellers — than others. In this article, we explore the trends in the Thurston County waterfront property market to highlight what features and amenities are particularly desirable right now.

If you’re interested in purchasing or selling a home on the water in Olympia, Lacey, Tenino, Tumwater, or any other city or area in Thurston County, we can help. Contact a waterfront specialist at Washington Waterfronts today.

Continue reading to learn what’s hot in waterfront single family residences for Thurston County, Washington.

Waterfront Property for Sale in Thurston County — Here’s What You Should Know

If you’re interested in purchasing or selling a home on the water in Thurston County, you should be equipped with as much data as possible. In the following sections, we explore:

• Historically low waterfront inventory levels in Thurston County
• Rising sold prices in Thurston County
• What types of homes spent the fewest days on market (DOM) in the last five years

Inventory for Homes on the Water in Thurston County is Historically Low

Demand for waterfront properties in Thurston County continues to outpace inventory levels. While limited inventory is a relatively new problem for the rest of the country, the number of waterfront homes for sale in Thurston has been in decline for a while.

In 2016, the annual median monthly number of waterfront homes on the market was 62. In 2020, that number was 22. During the first quarter of 2021, that number has gotten still lower, with a median monthly inventory of just 12 waterfront properties.

Even as the number of waterfront homes on the market in Thurston County has decreased over the past five years, the number of homes sold has increased, as have median sold prices and the overall sales volume. More on this below.

Thurston County Waterfront Home Sold Prices and Overall Transactional Volumes Continue to Rise

While there can be many reasons for the current inventory declines, one reason is that waterfront property owners in Thurston County are reluctant to let go of a good investment. The table below illustrates the rising median sales prices of homes on the water in Thurston County, along with the total transactional sales volume, which indicates the strength and competitiveness of the waterfront market there. 

Year	Median Sold Price	Total Transactional Volume
2016	$438,750	$68,450,020
2017	$507,500	$72,023,314
2018	$550,000	$85,388,333
2019	$600,000	$97,680,675
2020	$600,000	$121,759,616
Q1 2021	$831,250	$15,638,192

Waterfront Homes in Thurston County Don’t Stay on The Market Long

Homes on the water in Thurston County, WA, don’t stay on the market long. According to our proprietary data, the median days on the market (DOM) for waterfront property in Thurston County from 2016 was 26. That number dramatically decreased in 2020 when the median DOM was 10.5. In the first quarter of 2021, DOM was just seven days. 

Common Attributes of the Fastest-Selling Thurston County Waterfront Single Family Residences

Whether you’re interested in buying or selling a waterfront home, you should know what characteristics make a Thurston County waterfront property more likely to sell faster.

Per our Q1 2021 Washington Waterfronts proprietary data, we’ve learned that homes that stay on the market for 10 days or less have some or all of the qualities listed in the sections below.

Some of the Best Views in Washington

Waterfront homes in Thurston County for sale offer a variety of remarkable views. Take a look at some of the most common views of waterfront properties that sold the fastest in Q1 2021 in the table below, keeping in mind that many of the fastest selling waterfront homes have views that include multiple natural attributes (e.g. a mountain view and a view of Puget Sound, a lake view and a mountain view, etc.).

Most Popular Views	Percent of Properties Sold in 10 Days or Less in Q1 2021 with Attribute
Lake View	50%
Mountain View	25%
Puget Sound View	50%
Bay View	50%
Multiple Natural Attributers View	58%

Unique Land Features and Topographical Attributes

Waterfront homes in Thurston County with garden space, level ground, partial slope, fruit trees, and woods tend to sell the fastest in 2021. The table below gives the specifics.

Land Features and Topographical Attributes	Percent of Properties Sold in 10 Days or Less in Q1 2021 with Attribute
Garden Space	67%
Level Ground	67%
Partial Slope	67%
Fruit Trees	58%
Woods	42%

Outdoor Spaces and Amenities

When someone buys a home on the water in Thurston County, they are interested in more than the waterfront. Buyers often want a unique outdoor space from which to enjoy the view, as well as other features and amenities that make living easier. Here are some site features and amenities common to fast-selling Thurston County houses.

Site Features and Amenities	Percent of Properties Sold in 10 Days or Less in Q1 with Attribute
Deck	67%
Patio	67%
Deck and Patio	50%
Cable TV	67%
High Speed Internet	83%
Outbuildings	67%

Interestingly, 25% of the homes that sold in 10 days or less also had a second kitchen, while just 12.5% of those with a DOM of over 10 days had that amenity.

Contact Washington Waterfronts Today

Waterfront homes for sale in Thurston County, WA, are limited, and prices will likely stay high or continue to rise. Homes on the water in this part of Washington offer an excellent investment opportunity for buyers. Of course, for home sellers wanting to get a great price for their waterfront property, it’s an excellent time to sell. 

Whether you’re interested in buying or selling waterfront property in Thurston County, we can help. Contact Washington Waterfronts today to speak with a Thurston County waterfront property specialist.