Real Estate News - Olympia, Washington

The Olympian newspaper has crunched Multiple Listing Service (MLS) data and found that the pool of affordable homes has shrunk dramatically.

Last year, home sales priced at between $140,000 and $200,000 dropped an average of 42 percent compared with the year before, while home sales priced at $400,000 or higher rose 125 percent, according to Olympic Multiple Listing Service data. The data shows that the pickings are particularly slim for homes priced lower
than $140,000.

Read the full story here.

More encouraging is the city of Olympia's agreement with the Port of Olympia to purchase 11.7 acres of land along West Bay Drive for a future waterfront park. The price tag of around $4 million brings the city a parcel with a stunning location. Once the deal is final, the city will start assembling a concept plan for how the park will look, then take it to the public for feedback, said David Hanna, associate director of Parks, Arts and Recreation. The city is also interested in another 5 acres of land nearby, and in securing rights to the old railroad right-of-way linking the future park to downtown.