Home prices dip slightly statewide, but up in the Basin
This house in Othello was listed at $325,000 Wednesday.
COURTESY PHOTO/GOOGLE MAPS
MOSES LAKE — Inventory is climbing and home prices slipped in the housing market in September, according to data released by the Northwest Multiple Listing Service, which tracks real estate trends in 27 Washington counties.
“People are starting to come out from under the rocks, the buyers that were on the fence a little bit, because we're getting a little bit of a break here and there on interest rates,” said Johnny Reyes, a broker with Windermere Real Estate in Ephrata. “People are starting to feel a little more comfortable about coming out and buying.”
Active listings increased by 27.3% statewide between September 2024 and September 2025, according to the NWMLS. The increase was greater in Grant County, at 30.77% year-over-year, while Adams County increased only 6%.
Months of inventory, meaning the amount of time it would take to sell all active listings on the market, were up 22% statewide to 3.3 months between September 2024 and September 2025, according to the NWMLS. Adams County stood at 3.5 months of inventory, a dramatic drop from 8.3 in September 2024. Grant County went up from 4.9 months to 5.2. A balanced market is considered to be 4-6 months, according to the NWMLS.
The median statewide home price was $630,700, a slight dip from a year ago, according to the NWMLS data. That trend didn’t hold true in the Basin, as the median home price increased by 25.93% in Adams County to $340,000. The median price increased in Grant County as well, although more modestly, rising 4.25%, to $354,450.
“House prices in the NWMLS service area have generally been sluggish in response to high interest rates,” Steven Bourassa, Director of the Washington Center for Real Estate Research at the University of Washington, wrote in the data release. “Initially, high interest rates discouraged both sellers and buyers, but in recent months, sellers have been listing properties at a faster rate than buyers have been purchasing them. To some extent, these changes may reflect typical seasonal fluctuations, but at some point the laws of supply and demand may prevail, and prices may lose some of their stickiness.”