Tuesday, July 16, 2024

Seller’s market remains in Grant County

Staff Report | July 10, 2024 10:11 AM

MOSES LAKE — Grant County is still leaning in favor of home sellers, according to a report from Rocket Homes reviewing home sales for the month of June. While the market price was lower in Grant County than the state average, the market still favors the seller to some extent.

According to the report, there were 452 homes for sale in June, down from 459 the prior month. May saw 106 homes sold while June saw 82 homebuyers close on properties. Of those sold in June, 41.5% are reported as selling for below asking price. 

The median selling price last month in the county was $346,500, up slightly from $344,700 in May. That is also a smidge of an increase year over year with an increase of 1% when compared to the same month in 2023. 

Larger homes with four bedrooms saw a more marked increase in sale prices, going up about 5% compared to the year prior. The monthly comparison saw a median price of $408,000 in May to $420,000 in June. 

Three-bedroom homes held fairly consistent in market value with May prices set at $338,500 and June pushing up to $338,900 median sale price. 

Two-bedroom homes held fairly steady at about $243,000 in June, down marginally from $244,000 in May. 

Of the homes sold in June, 23% were sold above asking price, 35% at asking price and 41% under asking price, according to the report. 

Homes in Grant County were on the market an average of 55 days for June 2024, an increase from 46 days during the same month last year. 

Among homes with more than one bedroom, two-bedroom houses appeared to be selling the fastest in May with an average of 32 days on the market. Data for June was not available through the Rocket Homes report for that size home. 

Three-bedroom homes were on the market 54 days on average in June in Grant County, up from 51 days. Meanwhile, four-bedroom homes went from 50 days on the market to 69 days on average from May to June, respectively. 

The state median home price for June 2024 was $574,900, well above that for Grant County. That’s an increase of about 4% from June of 2023 when the median price was $559,900. 

Three-bedroom homes were selling for about 1% less than the prior year at $517,500. Data for other sizes of homes was not available at press time.

Average time on the market statewide was 49 days in June, down 20.6% from 62 days in June of last year. 

Clarification: The listing service wherein the home in the associated photo was listed for 11 days is Redfin.com.