The Pasco real estate market for homes priced at $1,000,000 and higher has demonstrated distinct trends over the past year. This analysis covers historical data, year-to-date performance, and the most recent market activity.
Market Trends Over the Past 12 Months
- Total Homes on Market per Day: An average of 1 new listing every 14 days, totaling 6 listings.
- Homes Sold per Day: 1 home sold every 28 days, totaling 3 homes sold.
- Pricing Trends:
- Average Listing Price: $1,125,500
- Median Listing Price: $1,112,500
- Average Sold Price: $1,215,000
- Median Sold Price: $1,130,000
- Buyer’s Market Score: 4.1
- Seller’s Market Score: 5.9
The data suggests a relatively balanced market with pricing stability at the high end.
Year-to-Date (YTD) Market Performance
- Total Homes on Market per Day: 1 listing every 14 days, totaling 6 listings.
- Homes Sold per Day: 1 home sold every 28 days, totaling 3 sales YTD.
- Pricing Trends:
- Average Listing Price: $1,125,500
- Median Listing Price: $1,112,500
- Average Sold Price: $1,215,000
- Median Sold Price: $1,130,000
- Buyer’s Score: 4.1
- Seller’s Score: 5.9
Compared to the past 12 months, the market remains steady with consistent pricing trends.
Last Full Month’s Market Performance
- Total Homes on Market per Day: 1 listing every 14 days, totaling 2 new listings.
- Homes Sold per Day: 1 home sold every 28 days, totaling 2 sales.
- Pricing Trends:
- Average Listing Price: $1,104,900
- Median Listing Price: $1,100,000
- Average Sold Price: $1,195,000
- Median Sold Price: $1,120,000
- Buyer’s Score: 3.8
- Seller’s Score: 6.2
Last month’s trends confirm a slightly stronger seller’s market, with firm pricing and limited listings.
Current Month Performance (To Date)
- Total Homes on Market per Day: 1 listing every 14 days, totaling 2 new listings.
- Homes Sold per Day: 1 home sold every 28 days, totaling 1 sale.
- Pricing Trends:
- Average Listing Price: $1,049,000
- Median Listing Price: $1,049,000
- Average Sold Price: $1,125,000
- Median Sold Price: $1,110,000
- Buyer’s Score: 4.5
- Seller’s Score: 5.5
The current month’s trends suggest a balanced market, with neither buyers nor sellers holding a strong advantage.
Conclusion and Market Outlook
- Market Movement: Homes are selling at a moderate pace, with competitive pricing.
- Price Trends: Listing and sold prices have remained firm, suggesting steady demand.
- Buyer vs. Seller Market: The data suggests a balanced market, though occasional shifts toward seller dominance.
- Final Insight: Buyers should strategize negotiations to secure competitive deals, while sellers can expect continued interest but should remain mindful of pricing.
For tailored advice on buying or selling in Pasco, reach out to ryan@kenmoreteam.com or call 509.987.4544. Staying informed about market trends can help you make smarter real estate decisions!