The real estate market in Pasco offers unique 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 understand market trends and predict future patterns. This analysis focuses on single-family homes in Pasco, Washington, looking at listings, prices, and how fast homes are selling.
Past 12 Months
- Total Homes on Market per Day: An average of 1.89 new listings per day, with 693 homes listed in total.
- Homes Sold per Day: On average, 1.47 homes sold per day, totaling 537 properties sold.
- Average and Median Prices:
- Average original listing price: $487,586
- Median original listing price: $439,000
- Average final sold price: $476,362
- Median final sold price: $430,000
- Buyer’s Score: 3.3 – A moderately competitive market for buyers.
- Seller’s Score: 6.7 – Favorable conditions for sellers.
The past year in Pasco shows a strong seller’s market, with homes selling relatively quickly and close to their original listing prices. The average days on market was 50 days, but homes sold faster than the average in many cases.
Year to Date (YTD)
- Total Homes on Market per Day: So far in 2025, 1.63 new listings per day, with 39 total listings recorded.
- Homes Sold per Day: 1 home sold every 1.5 days, with 16 homes sold to date.
- Average and Median Prices:
- Average original listing price: $515,284
- Median original listing price: $436,000
- Average final sold price: $499,561
- Median final sold price: $420,000
- Buyer’s Score: 3.3 – Buyer conditions remain similar to the past year.
- Seller’s Score: 6.7 – Sellers continue to have the upper hand.
So far this year, homes in Pasco have been selling faster, with an average of just 30 days on the market. This indicates a strong demand and a market that continues to favor sellers.
Last Full Month (December 2024)
- Total Homes on Market per Day: 1.26 new listings per day, with 39 total listings recorded.
- Homes Sold per Day: 1.45 homes sold per day, totaling 45 sold properties.
- Average and Median Prices:
- Average original listing price: $459,826
- Median original listing price: $449,900
- Average final sold price: $430,183
- Median final sold price: $410,000
- Buyer’s Score: 1.9 – A very competitive market for buyers.
- Seller’s Score: 8.1 – Strong conditions for sellers.
December was a challenging month for buyers, with low inventory and high seller scores making it a competitive market. Homes sold in an average of 36 days, with many properties moving even faster.
Current Month (January 2025)
- Total Homes on Market per Day: So far in January, 1.26 homes per day have been listed, with 39 total listings recorded.
- Homes Sold per Day: 1 home sold every 1.9 days, with 16 homes sold to date.
- Average and Median Prices:
- Average original listing price: $515,284
- Median original listing price: $436,000
- Average final sold price: $499,561
- Median final sold price: $420,000
- Buyer’s Score: 3.3 – A slight improvement for buyers compared to December.
- Seller’s Score: 6.7 – Sellers maintain a strong advantage.
January continues the trend of quick sales, with homes averaging 30 days on the market. Prices remain consistent, and sellers are still benefiting from high demand.
Conclusion
The Pasco real estate market is currently defined by:
- Market Speed: Homes are selling faster, with the average days on market dropping to 30 days in January 2025 compared to 50 days in the past year.
- Price Trends: Listing prices have increased slightly, with January’s average listing price of $515,284 reflecting a growing confidence among sellers.
- Buyer and Seller Dynamics: The market continues to favor sellers, with strong seller scores and low buyer leverage.
For sellers, this is an ideal time to list your property. Homes are selling quickly and close to their listing prices, reflecting strong demand. Buyers, on the other hand, should be prepared to move fast and make competitive offers to secure a home in this tight market.
For personalized assistance or expert advice on buying or selling your home in Pasco, contact ryan@kenmoreteam.com or call 509.987.4544. Being informed and working with knowledgeable professionals is key to success in this dynamic market.