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← Back to search results/Olympia, WA/5508 South Bay Terrace Drive NE
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Listed by James Clerget • Realty One Group Bold.
FOR SALE

$1,450,000

Est. $7,968/mo

3 bd•2.75 ba•3,329 sq ft

5508 South Bay Terrace Drive NE, Olympia, WA 98516

• Listed Sep 3, 2026•53 days active · 53 cumulative

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★★★★★5.0·1,244 Google reviews

Listing Broker: Realty One Group Bold; James Clerget; 360-789-1071; jtcnomad@sbcglobal.net

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Listing Broker: Realty One Group Bold; James Clerget; 360-789-1071; jtcnomad@sbcglobal.net

About this home

Discover a rare 1.3-acre dual-parcel legacy estate in coveted South Bay Terrace. This 3,329-SF luxury home offers 160 feet of low-bank saltwater frontage and sweeping views across serene Henderson Inlet, up through Dana Passage. Invaluable, grandfathered assets include a floating boat dock, a private bulkhead, and fully owned tidelands—providing exceptional privacy. Ideally located near Boston Harbor and Woodard Bay Conservation Area, this sanctuary offers unrivaled access to Puget Sound’s most beautiful protected waters. Designed to frame the water from nearly every room, the home features a gourmet chef’s kitchen with granite countertops, hardwood finishes, a professional Viking range, and premium KitchenAid appliances. Expansive living areas are filled with natural light, while the daylight basement offers flexible space for multi-generational living, a home theater, and alfresco entertaining with direct access to the waterfront grounds. A brand-new architectural roof and professionally permitted Generac standby generator with a 240-gallon propane system provide lasting peace of mind-whatever the season. The finished garage features epoxy flooring with ample hobby-craft space. Fully landscaped grounds include new premium wood and wrought iron fencing, a vegetable garden, and a private orchard with mature apple, pear, and cherry trees. The children's area ensures fun for all. Only minutes from Olympia's dynamic urban core, this is truly an incomparable waterfront property.

Property type
Single Family
Year built
1968
Interior
3,329 sq ft
Lot size
1.3 acres
Parking
2-car garage
Price / sq ft
$436
Heating90%+ High Efficiency, Forced Air, Heat Pump
CoolingHeat Pump
Property taxes$10,563/yr (est.)
School districtNorth Thurston

Listed by James Clerget • Realty One Group Bold

Listing updated: October 7, 2026 at 01:27am

RexMont checked: moments ago

Source: NWMLS as Distributed by MLS Grid #2572068

Around this home

RexMont OfferEdge™

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5508 South Bay Terrace Drive NE, Olympia, WA 98516

List price
$1,450,000
Down payment
$290,000

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Source:RexMont analysis of Northwest MLS sales data for this ZIP code plus third-party market data (RentCast). The estimates are RexMont's, not Northwest MLS listing data.

Estimates only and not guaranteed. Consult a RexMont agent for accurate, personalized guidance before making an offer. RexMont OfferEdge™ · © 2026 RexMont Real Estate. Proprietary tool.

Property details

Interior features

  • Second Kitchen
  • Bath Off Primary
  • Fireplace
  • Pantry
  • Security System
  • Water Heater
  • Wine/Beverage Refrigerator
  • Wired for Generator
  • 2 fireplaces (gas)
  • Daylight basement

Kitchen

  • Dishwasher
  • Double Oven
  • Dryer
  • Microwave
  • Refrigerator
  • Stove(s)/Range(s)
  • Washer

Bedrooms

  • 3 bedrooms total
  • 3 on the main level

Bathrooms

  • 2 full bathrooms
  • 1 three-quarter bathroom (shower, no tub)
  • 2.75 bathrooms total (NWMLS count)
  • 2 on the main level

Layout

  • 1 Story w/Bsmnt.
  • 3,329 sq ft finished
  • 540 sq ft garage

Flooring

  • Vinyl
  • Carpet

Heating & cooling

  • 90%+ High Efficiency heating
  • Forced Air heating
  • Heat Pump heating
  • Heat Pump cooling

Schools

Ratings via SchoolDigger

Schools shown are the nearest public Elementary, Middle, and High school for this property and may not be the assigned schools. Verify attendance boundaries with the district before purchasing.

Single-family home facts

As entered by the listing broker on Northwest MLS

Lot & site

Topography
Partial Slope,Terraces
Vegetation
Fruit Trees, Garden Space
Zoning jurisdiction
County
Faces
West

Systems

Energy source
Electric,Propane
Power production
Electric, Propane
Water heater
Electric
Water heater location
Basement storage
Power company
PSE
Water company
South Bay Community
Irrigation water rights
No
Internet connected
Xfinity

Rooms & extras

Bathtubs
2
Showers
3
Fireplaces on main
1
Fireplaces lower level
1
Excluded items
Yes

New construction

Square footage source
Public Record
Lot size source
Public Record-2 lots
Effective year built source
Public Records

Manufactured home

Land lease
No

Neighborhood mobility

Doorstep, Pedal & Station Scores

Three RexMont scores for this exact address: what is on foot, what is by bike, and what rides past the door.

Ground Truth™

The ground, the slope, the flood zone and the noise at this address

Read from public hazard, flood, terrain and noise maps for this exact home.

Address Insider™

The members' report

Commute, transit, zoning and ADU potential, internet providers and the lifestyle around the home: the nearest grocery, coffee, park, services and transit stop. One free registration opens every home on rexmont.com.

Members

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Sales & Tax Records for 5508 South Bay Terrace Drive NE

NWMLS via MLS Grid · Thurston County Assessor

Every listing, pending, price change and closing filed on this home with the NWMLS, the county’s recorded sales, and its assessed values by tax year.

  1. Sep 3, 2026
    Listed
    NWMLS via MLS Grid · #2572068
    $1,450,000
    $436/sq ft
  2. Jun 15, 2021
    Sold
    NWMLS via MLS Grid · #1775899
    $1,281,500
    $385/sq ft
  3. May 24, 2021
    Pending
    NWMLS via MLS Grid · #1775899
    $1,190,000
    $357/sq ft
  4. May 20, 2021
    Listed
    NWMLS via MLS Grid · #1775899
    $1,190,000
    $357/sq ft
  5. May 18, 2016
    Sold
    NWMLS via MLS Grid · #758498
    $549,000
    $165/sq ft
  6. Mar 24, 2016
    Pending
    NWMLS via MLS Grid · #758498
    $549,000
    $165/sq ft

Mortgage payment forecast

$9,211 per month

Great rate
Principal and interest
Property taxes
HOA dues
Home insurance

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Plan your offer with a RexMont buyer specialistWalk through escalation strategy, contingencies, and competing-offer risk in this neighborhoodCompare loan options30-yr fixed, 15-yr, FHA, VA, jumbo

Source: RexMont estimate, not Northwest MLS listing data. Interest rates from Freddie Mac's Primary Mortgage Market Survey via FRED (Federal Reserve Bank of St. Louis). Property tax and HOA dues from the NWMLS listing where provided, otherwise estimated; insurance estimated at 0.3% of price per year.

Estimate only. Actual payment depends on credit, lender, and program. PMI not included for down payments below 20%.

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Listing Broker: Realty One Group Bold; James Clerget; 360-789-1071; jtcnomad@sbcglobal.net

Market pulse

Olympia is a balanced market.

Supply and demand are roughly in balance. Neither side has a clear edge.

Buyer's marketSeller's market

  • Offer insight: Homes typically sell with one offer near asking price.

  • List to sale price: The average home sells very close to list price.

  • Time on market: The average home goes pending in around 67 days.

Want a deeper read on this market?

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Market data from MLS GRID / NWMLS · Updated Oct 2026

Information and statistics derived from Northwest Multiple Listing Service. Source: Northwest Multiple Listing Service, as distributed by MLS GRID.

MLS GRID Disclaimer

Based on information submitted to the MLS GRID as of October 26, 2026 at 4:55 PM PT (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Listing information courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Some IDX listings have been excluded from this website.

© 2026 Northwest Multiple Listing Service. All rights reserved.

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