130 Thurston County Homes Sold for $1 Million or More in 2022

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The number of homes in Thurston County that sold for $1 million or more reached a new high in 2022 — 130 homes, up from 100 units in 2021, according to year-end data released by Northwest Multiple Listing Service.

Although overall single-family homes sales fell sharply, down 21 percent between 2022 and 2021, million-dollar home sales increased 30 percent due to rapidly increasing prices.

Nineteen million-dollar homes sold in 2018, followed by 28 in 2019, 38 in 2020, the data show.

Out-of-area buyers, coming from markets where the median price is much higher than in Thurston County, are thought to be behind the increase in high-end home sales, said Steve Pust, managing broker at Van Dorm Realty in Olympia.

Pust saw it firsthand last year. In one transaction, he represented the seller on a home that sold for more than $1 million to a buyer from the Seattle area. In another, he assisted the buyer's agent with a home that sold for nearly $2 million to a buyer from the East Coast.

Thurston County's median price ended the year at $500,000. But in King County, the median price for the year was $900,000 and in Snohomish County it was $765,000, the Northwest MLS data show.

Where did the million dollar homes sell?

Of the 130 high-end home sales here, 23 were in northeast Thurston County, followed by 20 in the northwest area of the county, followed by 18 in the waterfront community of Boston Harbor.

"It's one of the most popular areas in the county," said Pust about Boston Harbor. "People will pay just to be in that location."

As for the units that sold in northeast and northwest Thurston County, Pust surmised they likely were near the water, larger than 2,500 square feet or came with acreage, possibly five acres or more, he said.

How did the overall Thurston County housing market do in 2022?

Despite pressure created by higher mortgage interest rates, the median price of a single-family home here finished the year at $500,000, up 9 percent from 2021. However, higher interest rates, plus inflation and higher fuel prices, had an effect on sales. The number of sales tumbled 21 percent to 4,612 units, down from 5,847 units in 2021.

Location of million-dollar home sales in 2022

— Northeast Thurston County: 23.

— Northwest Thurston County: 20.

— Boston Harbor: 18.

— West Olympia: 15.

— South Thurston County: 11.

— Black Hills: 8.

— Tumwater: 7.

— East Olympia: 6.

— Hawks Prairie: 5.

— Southeast Thurston County: 5.



— Lacey: 4.

— North Olympia: 3.

— Yelm/Rainier: 3.

— South Olympia: 1.

— Rochester: 1.

Number of million-dollar home sales since 2013

— 2022: 130.

— 2021: 100.

— 2020: 38.

— 2019: 28.

— 2018: 19.

— 2017: 9.

— 2016: 9.

— 2015: 2.

— 2014: 15.

— 2013: 2.

Number of million-dollar home sales in other counties in 2022

— King County: 9,327.

— Snohomish County: 2,430.

— Pierce County: 765.

— Kitsap County: 413.

Source: Northwest MLS.