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OLYMPIA, WA 98506

Real Estate Market Report
Balanced Market
February 2026  ·  Source: Realtor.com

Neighborhoods in ZIP 98506

Bigelow · Bigelow Highlands · Devon Place · East Bay Drive · Mapleview · NorthEast · Springfield · Springwood · Upper Eastside · Woodard Glen

Market Analysis

Data as of February 2026. Source: Realtor.com.

The OLYMPIA, WA real estate market (98506) currently shows 52 active listings, with 28 pending sales. Homes are averaging 37 days on the market before going under contract.

Inventory has tightened compared to last year, with 20 fewer active listings — creating more competition among buyers.

Homes are taking longer to sell, averaging 37 days on market compared to 23 days last year.

The median listing price has risen 11.6% year-over-year, from $606,245 to $676,699.

Whether you are buying or selling in OLYMPIA, WA, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 18,968  ·  Density: 326.3/mi²  ·  Median household income: $88,512

Typical home value: $409,194  ·  Homeownership: 67.4%

Market Overview

Active Listings
52
⇩ 27.8% vs 72 last year
Pending
28
54% pending ratio
Median Price
$676,699
⇧ 11.6% vs $606,245 last year
Average Price
$652,002
⇩ 1% vs $658,596 last year
Days on Market
37
⇧ 60.9% vs 23 days last year

Price Per Square Foot

Median $/sqft
$272
⇩ 3.5% vs $282/sqft last year
Median Home Size
2,249 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 52 this year vs 72 last year
  • Days on market: 37 now vs 23 last year

Median & Average Pricing

Year over Year
  • Median: $676,699 (+11.6% YoY)
  • Average: $652,002 (-1% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 18.4 miles — 554 listings ($425,039,911 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
98506Olympia, WA 985060.0 mi48$32,708,256$650,000$681,422
98508Olympia, WA 985085.5 mi1$650,000$650,000$650,000
98502Olympia, WA 985027.5 mi101$72,825,141$648,205$721,041
98501Olympia, WA 985018.6 mi115$71,795,075$619,950$624,305
98327Dupont, WA 9832710.0 mi23$11,495,538$465,000$499,806
98388Steilacoom, WA 9838811.9 mi20$18,891,160$849,950$944,558
98512Olympia, WA 9851213.1 mi80$56,972,240$630,975$712,153
98333Fox Island, WA 9833315.3 mi12$20,002,368$1,187,000$1,666,864
98394Vaughn, WA 9839415.7 mi4$4,823,000$948,250$1,205,750
98467University Place, WA 9846716.9 mi32$22,176,864$699,000$693,027
98335Gig Harbor, WA 9833518.0 mi79$87,744,589$934,475$1,110,691
98589Tenino, WA 9858918.2 mi22$15,274,248$649,000$694,284
98592Union, WA 9859218.4 mi17$9,681,432$554,475$569,496

Frequently Asked Questions

How many homes are for sale in OLYMPIA, WA 98506?

As of February 2026, there are 52 active listings in OLYMPIA, WA (zip code 98506), compared to 72 the prior year.

What is the median home price in OLYMPIA, WA 98506?

The median listing price in OLYMPIA, WA 98506 is $676,699 as of February 2026, a 11.6% increase from $606,245 the prior year.

How long do homes stay on the market in OLYMPIA, WA?

Homes in OLYMPIA, WA 98506 spend an average of 37 days on the market before going under contract, compared to 23 days the prior year.

Is it a seller's or buyer's market in OLYMPIA, WA 98506?

Based on current inventory and days-on-market data as of February 2026, OLYMPIA, WA 98506 is currently a Balanced Market. Inventory has tightened compared to last year, with 20 fewer active listings — creating more competition among buyers. Homes are taking longer to sell, averaging 37 days on market compared to 23 days last year.

How much can I save on real estate commission in OLYMPIA, WA?

With SELL123.com's maximum 3% commission, sellers in OLYMPIA, WA 98506 save an estimated $13,534 compared to a typical 5% commission on the median listing price of $676,699. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.