The Pasco real estate market is thriving, presenting excellent opportunities for both buyers and sellers. By analyzing data from the past 12 months, year to date (YTD), the last full month, and the current month, we can identify key trends in home listings, sales, and prices. This analysis focuses on single-family homes in Pasco priced between $400,000 and $500,000.
Past 12 Months
- Total Homes on Market per Day: An average of 1 listing every 1.4 days, with 256 homes listed in total.
- Homes Sold per Day: On average, 1 listing sold every 1.8 days, totaling 200 homes sold.
- Average and Median Prices:
- Average original listing price: $452,787
- Median original listing price: $449,000
- Average final sold price: $441,350
- Median final sold price: $435,000
- Buyer’s Score: 3.4 – Buyers experienced a moderately competitive market.
- Seller’s Score: 6.6 – A strong market for sellers.
The past year demonstrates a solid seller’s market in Pasco, with homes selling quickly. The average days on market (DOM) was 52 days, while the median was 36 days, indicating that most homes moved within about a month.
Year to Date (YTD)
- Total Homes on Market per Day: So far in 2025, 1 new listing every 2.2 days, with 11 total listings recorded.
- Homes Sold per Day: 1 home sold every 6 days, with 4 homes sold to date.
- Average and Median Prices:
- Average original listing price: $433,690
- Median original listing price: $436,000
- Average final sold price: $436,750
- Median final sold price: $427,500
- Buyer’s Score: 3.9 – Slight improvement for buyers compared to last year.
- Seller’s Score: 6.1 – Sellers maintain an edge, but the market is becoming more balanced.
So far this year, homes have been moving quickly, with an average DOM of 52 days, but the median DOM is much lower at 16 days, reflecting faster sales for many properties.
Last Full Month (December 2024)
- Total Homes on Market per Day: 1 new listing every 1.9 days, with 16 listings recorded.
- Homes Sold per Day: 1 home sold every 2.1 days, totaling 15 homes sold.
- Average and Median Prices:
- Average original listing price: $458,637
- Median original listing price: $458,000
- Average final sold price: $446,720
- Median final sold price: $445,000
- Buyer’s Score: 2.5 – A challenging market for buyers.
- Seller’s Score: 7.5 – Favorable conditions for sellers.
December was a busy month for sellers, with homes selling in an average of 32 days and a median of 35 days, showing strong demand.
Current Month (January 2025)
- Total Homes on Market per Day: So far in January, 1 new listing every 2.2 days, with 11 listings recorded.
- Homes Sold per Day: 1 home sold every 7.8 days, totaling 4 homes sold to date.
- Average and Median Prices:
- Average original listing price: $433,690
- Median original listing price: $436,000
- Average final sold price: $436,750
- Median final sold price: $427,500
- Buyer’s Score: 3.9 – A slight improvement for buyers compared to December.
- Seller’s Score: 6.1 – Sellers maintain the upper hand.
January shows a continuation of strong demand, with homes selling in an average of 52 days and a median of 16 days, indicating a quick turnaround for many listings.
Conclusion
Pasco’s real estate market remains robust, with sellers benefiting from high demand and homes selling quickly. As we move into 2025, here are the key takeaways:
- Market Speed: Homes are selling faster, with the average DOM dropping from 52 days last year to just 16 days for many listings in January 2025.
- Price Trends: Listing and sold prices remain stable, with homes consistently selling near their original listing prices, indicating strong buyer interest.
- Buyer and Seller Dynamics: The market continues to favor sellers, but buyer scores show slight improvements compared to late 2024.
If you’re a seller, now is a great time to list your home, as demand remains high and competition among buyers is strong. Buyers should be ready to act quickly and make competitive offers to secure a property.
For expert advice or assistance in buying or selling in Pasco, contact ryan@kenmoreteam.com or call 509.987.4544. With professional guidance, you can navigate this dynamic market with confidence!