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Market Intelligence · WA / Olympia

Olympia, WA 98506 Housing Market

The typical home value in Olympia, WA 98506 is $537,032 as of September 2026, down 1.1% over the past year. The median list price sits at $626,111, and homes are spending a median of 52 days on market.

Updated September 2026Median value$537K

The median home value in Olympia, WA 98506 is $537K as of September 2026, down 1.1% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 98506 range

$494K to $580K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

-1.1% over 12 months

Typical home value in 98506 over the last 12 months: $543K in Sep 2025 to $537K in Sep 2026 (-1.1%).

Sep 2025$543K

Sep 2026$537K

The numbers

What is the 98506 housing market like?

Typical home value

$537K

Down1.1%YoY

Median list price

$626K

Up1.8%MoM

Days on market

52

Up33.3%MoM

Homes for sale

46

Down2.1%MoM

Price cuts

32.8%

Up28.0%MoM

New listings

8

Down60.0%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

98506 housing market forecast 2027

+0.3%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 98506 to stay roughly flat by September 2027 (up 0.3%).

Over the 12 months through September 2026, typical home values in 98506 fell 1.1%, per the Zillow Home Value Index.

Will home prices drop in 98506?

Zillow's forecast does not point to a meaningful drop: it expects typical home values in 98506 to stay roughly flat by September 2027 (up 0.3%), after a 1.1% decline over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 98506 home prices compare?

  • 98506$537,032
  • Olympia$544,320
  • Washington$496,668
  • United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Olympia: 6 ZIPs; Washington: 485 ZIPs; United States: 26,262 ZIPs).

Context

As of September 2026, there were 46 homes for sale in the 98506 ZIP code, with 8 new listings hitting the market. Sellers are listing at a median of $626,111, while the typical home value stands at $537,032, down 1.1% over the past year. Homes are taking a median of 52 days to sell, and 32.8% of listings have had a price cut. That share of reductions, paired with softening values, suggests buyers have some room to negotiate. If you are selling, pricing realistically from the start matters more than testing the top of the market.

Monthly payment

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20% · $107,406

Common questions

What people ask us.

How much is a home in 98506 worth?

The typical home value in 98506 is $537,032 as of September 2026, down 1.1% over the past year.

How long do homes take to sell in 98506?

Homes in 98506 spend a median of 52 days on market as of September 2026.

Are sellers cutting prices in 98506?

Yes. As of September 2026, 32.8% of listings in 98506 had a price cut.

Discover

Nearby ZIP markets.

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Guides for sellers.