2025 sees slight real estate market improvement
This four-bedroom home was listed for $324,900 Wednesday in Moses Lake. Median prices are up by more than 8% in Grant County compared to a year ago, according to data from the Northwest Multiple Listing Service.
JOEL MARTIN/COLUMBIA BASIN HERALD
KIRKLAND — The real estate market in Washington improved in 2025 compared to the year before, according to data released by the Northwest Multiple Listing Service, which tracks real estate trends in 27 Washington counties. The data is compiled from the work of more than 31,000 real estate brokers in more than 2,400 member offices, according to the NWMLS.
Closed sales statewide increased slightly, by 0.21%, in 2025 over 2024, according to the NWMLS data. In Grant County, closed sales increased by 10.8%, and in Adams County by 17.82%.
The statewide median sales price was $644,500, according to the NWMLS data, a 0.7% increase from the 2024 median of $640,000. The median price statewide in 2015 was $310,000, which demonstrates sustained growth over the course of 10 years.
The median home price in Adams County was $349,999, an increase of 8.36% over 2024’s $323,000 median, while Grant County saw a 5.46% increase, from $345,000 to $363,850.
New construction has risen steadily in Grant and Adams counties. Grant County saw 262 new units on the market in 2025, an increase from 224 in 2024 and 205 in 2023, according to NWMLS data. Adams County added 28 units in 2025, compared to 26 in 20924 and 27 in 2023. The median price for a new home in Grant County was $360,760, a 5.38% increase from $341,355 in 2024. In Adams County, the median price for a new home was $395,855, up 4.05% from $380,450 in 2024.
Interest rates, which have slowed growth for the last several years, dipped from 2024 to 2025, according to Freddie Mac. The rate for a 30-year fixed-rate mortgage started at 6.91% in January and ended at 6.15% in December 2025, compared to 2024 when rates went from 6.62% at the beginning of the year to 6.85%.
Despite the interest rate drop, affordability continued to be an issue in Washington state, according to the NWMLS data. Average active listings rose more than 34% between 2024 and 2025, while new listings increased by only 8.9%, implying a longer time on the market.
“Affordability constraints continue to put a damper on sales activity,” Steven Bourassa, Director of the Washington Center for Real Estate Research at the University of Washington, wrote in the NWMLS data release. “Average 30-year mortgage rates dropped only slightly last year, from 6.72% in 2024 to 6.60% in 2025, which was not enough to overcome buyers’ affordability issues, particularly when prices were more or less stable. However, rates were declining toward the end of 2025, which could lead to greater affordability and more transactions in 2026 if the trend continues.”