Grant County housing prices on the rise

MOSES LAKE — The number of houses for sale in Grant County was about the same in August 2017 as it was in August 2016, but prices have increased. Home prices are higher for the year to date when 2017 is measured against 2016, according to statistics the Northwest Multiple Listing Service recently released for August.

The average price paid for a home in August 2017 was $285,148, compared with $266,821 in August 2016. The median price is that spot in the middle of all home sales – half the homes more expensive, half the homes less expensive. For August 2017, the median price in Grant County was $239,450. That’s compared to $220,000 in August 2016.

For 2017 through the end of August, the average selling price is $282,376, compared to $263,649 in the first eight months of 2016. The median price for 2017 through August is $237,500, compared with $225,000 for the same period in 2016.

In Moses Lake, “it’s definitely a seller’s market, still,” said Mark Fancher, owner of Coldwell Banker Tomlinson Ranch & Home. “Our inventory level is still very low.”

In response to that demand for houses, three existing developments are expanding and three apartment complexes are under construction in Moses Lake, with one partially open and renting units.

There were 126 new listings countywide in August 2017, compared to 127 in August 2016. Existing and new listings added up to 382 homes for sale in August 2017, compared to 435 in August 2016. The NWMS compilation shows 946 houses have gone on the market in Grant County in the first eight months of 2017. That compares to 931 in the same time period of 2016.

Condominiums make up a small slice of the county’s real estate market, but a slice. For 2017 to date, 26 condos have been listed in Grant County, compared to 36 for the year to date at this time in 2016.

Average price for a condo for 2017 to date is $250,026; the average condo price was $210,028 in the same period in 2016. The median price was $210,000 for the first eight months of 2017. In the comparable period in 2017 it was $179,995.

Cheryl Schweizer can be reached via email at education@columbiabasinherald.com.