What Does $1 Million Buy in Olympia?
Million dollar homes are not what most people think of when they explore the Olympia real estate market. Yet, considering the abundance of beautiful scenery we’ve been blessed with, it is not surprising that some luxurious high end properties have emerged.
Sales of million dollar homes are by no means a normal occurrence in Olympia. In fact, since the beginning of 2006 there have been a total of just 40 single family residences with Olympia addresses that have sold for $1,000,000 or better (the highest of which was for $3,950,000). Of those sales, 25 of them happened in 2006 & 2007. So far in 2011 there have been 3 sales in the 7 figure price range.
However, just because there aren’t many sales doesn’t mean million dollar homes in Olympia are rare. According to Thurston County property tax records there are 187 single family homes with Olympia addresses valued at $1,000,000 or more.
So, what makes a home worth a million dollars in the Olympia real estate market? Well, you may have guessed that the most common characteristic is killer waterfront. From relatively small waterfront condos near downtown to luxurious mini-mansions on Cooper Point and sprawling estates at the tip of Johnson Point, Puget Sound waterfront property demands premium prices. But million dollar homes aren’t always the types of places you would expect to see on MTV Cribs. Sometimes a modest home on big acreage is worth even more than the 10,000 square foot palace squeezed among neighboring waterfront properties.
Don’t just take it from me though. Satisfy your curiosity and check out these amazing million dollar homes in Olympia currently on the market (Or view the full list here):
Million Dollar Homes in Olympia WA
Sales statistics for this post were independently calculated using data from Northwest Multiple Listing Service.
Header photo from the house for sale at 9934 Point View St. NE – provided courtesy of Spence Weigand, Virgil Adams Real Estate, Inc.