Understanding price trends in the Pasco real estate market provides critical insights for both buyers and sellers. By analyzing listing prices, final sale prices, and price per square foot across different price ranges, we can assess how pricing dynamics impact negotiations, affordability, and investment potential.
Overall Market Trends in Pricing
- The gap between listing and final sale prices varies across different price segments, with lower-priced homes seeing smaller discounts and higher-priced homes showing more flexibility in negotiations.
- Price per square foot is a key indicator of value, with higher price ranges often reflecting premium property features.
Price Range Breakdown: Listing vs. Final Sale Prices
$0 – $350,000
- Average Listing Price: $290,350
- Average Sold Price: $290,643
- Median Listing Price: $289,500
- Median Sold Price: $289,500
- Price Per Sq. Ft.: High relative to home size, indicating strong demand.
🚨 Insight: Homes in this range sell at or above asking price, showing the strongest seller’s market with minimal price flexibility.
$350,000 – $450,000
- Average Listing Price: $396,417
- Average Sold Price: $396,619
- Median Listing Price: $395,000
- Median Sold Price: $395,000
- Price Per Sq. Ft.: Competitive, as this range sees high buyer activity.
✅ Insight: A strong seller’s market, but buyers still have some negotiation power compared to lower-tier homes.
$450,000 – $550,000
- Average Listing Price: $487,811
- Average Sold Price: $485,139
- Median Listing Price: $482,500
- Median Sold Price: $482,450
- Price Per Sq. Ft.: Moderate, balancing affordability with property features.
⚖️ Insight: Price reductions are small, but buyers in this range have slightly more room to negotiate than lower-priced properties.
$550,000 – $650,000
- Average Listing Price: $599,849
- Average Sold Price: $588,188
- Median Listing Price: $594,500
- Median Sold Price: $587,000
- Price Per Sq. Ft.: Higher due to larger properties and premium amenities.
⚠️ Insight: Sellers are seeing modest price reductions, indicating a market where buyers can negotiate more effectively.
$650,000 – $750,000
- Average Listing Price: $712,983
- Average Sold Price: $705,150
- Median Listing Price: $699,450
- Median Sold Price: $694,500
- Price Per Sq. Ft.: Reflects larger, high-end homes with desirable features.
🔍 Insight: Negotiation potential increases in this range, as sellers show more flexibility.
$750,000 – $850,000
- Average Listing Price: $841,125
- Average Sold Price: $819,573
- Median Listing Price: $835,000
- Median Sold Price: $825,000
- Price Per Sq. Ft.: Premium pricing, but with some discounts.
🚨 Insight: Buyers in this range have strong negotiation leverage, with homes consistently selling below asking price.
$850,000 – $1,000,000
- Average Listing Price: $804,871
- Average Sold Price: $801,371
- Median Listing Price: $800,000
- Median Sold Price: $800,000
- Price Per Sq. Ft.: High-end but with room for price adjustments.
🏡 Insight: The market in this range is balanced, with minimal price reductions but slower-moving inventory.
$1,000,000 and Higher
- Average Listing Price: $1,125,500
- Average Sold Price: $1,215,000
- Median Listing Price: $1,112,500
- Median Sold Price: $1,130,000
- Price Per Sq. Ft.: Luxury-level pricing.
💰 Insight: Luxury homes sell at higher final prices, but with longer market times, allowing for strategic pricing adjustments.
Key Takeaways from Pricing Analysis
- Most Competitive Price Ranges: Homes under $450K sell at or above listing price, making them the toughest for buyers.
- Best Buyer Leverage: The $750K-$850K range sees the largest listing-to-sale price reductions, offering buyers more room to negotiate.
- Luxury Home Market: High-end homes ($1M+) often sell for more than their listing price, reflecting demand for unique luxury properties.
For expert guidance on buying or selling in Pasco, reach out to ryan@kenmoreteam.com or call 509.987.4544. Understanding price trends can help you make the most informed real estate decisions!