How much is a home in 98516 worth?

The typical home value in 98516 is $581,608, down 0.4% over the past year as of 2026-07-01.

How long does it take to sell a home in 98516?

Homes in 98516 spend a median of 50 days on the market as of 2026-08-01.

Are sellers in 98516 cutting prices?

Yes. As of 2026-08-01, 33.0% of listings in 98516 have had a price cut, and the median list price is $619,000.

Market Intelligence · WA / Olympia

Olympia, WA 98516 Housing Market

The typical home value in Olympia's 98516 ZIP code is $581,608, down 0.4% over the past year as of 2026-07-01. As of 2026-08-01, the median list price sits at $619,000 and homes spend a median of 50 days on the market.

Updated August 2026Median value$575K

The median home value in Olympia, WA 98516 is $575K as of August 2026, down 0.3% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

Sell without the wait

Sell your Olympia home for cash.

A competitive, no-obligation cash offer from our institutional network. No repairs, no showings, close on your timeline. Most sellers get their cash offer within 24 hours.

Typical 98516 range

$529K to $621K

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.

Asset monitoring

Track your home's value.

A free monthly briefing with your estimated value and 98516 market stats. Unsubscribe anytime.

See how a cash offer works citywide: Sell your house fast in Olympia, WA.

12-month value trend

-0.3% over 12 months

Aug 2025$577K

Low $574KHigh $584K

Aug 2026$575K

The numbers

What is the 98516 housing market like?

As of August 2026

Typical home value

$575K

0.3%YoY

Median list price

$619K

0.5%MoM

Days on market

31.6%MoM

Homes for sale

134

16.5%MoM

Price cuts

33.0%

23.4%MoM

New listings

9.7%MoM

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

Free home value report

See what your 98516 home is worth.

See your estimated value and a real cash offer, side by side. No obligation, about a minute.

The comparison

How do 98516 home prices compare?

98516$574,574
Olympia$547,656
Washington$500,124
United States$288,625

Median Zillow home value (ZHVI), as of August 2026. Comparison levels are medians across every ZIP code with Zillow data (Olympia: 6 ZIPs; Washington: 485 ZIPs; United States: 26,265 ZIPs).

Context

There are 134 homes for sale in 98516, with 56 new listings added as of 2026-08-01. The median list price is $619,000, and homes take a median of 50 days to go under contract. Price cuts are common, with 33.0% of listings reduced. Meanwhile, the typical home value of $581,608 is down 0.4% over the past year. For a seller, this points to a market where pricing accurately from the start matters, because buyers have room to negotiate and overpriced homes are getting cut.

Monthly payment

Estimate your monthly payment.

Home price

Down payment20% · $114,915

Term

Rate (%)

Common questions

What people ask us.

Discover

Nearby ZIP markets.

Keep reading