Analyzing List Prices, Sales Prices, and Price per Square Foot
This report evaluates how pricing has evolved in Pasco’s new construction market using a tiered time analysis. It provides a clear view of whether sellers are pricing accurately, how much buyers are paying in relation to those prices, and how efficiently homes are being valued on a per-square-foot basis.
365-Day Benchmark – The Long-Term Baseline
| Metric | Value |
|---|---|
| Avg. Original List Price | $562,107 |
| Median Original List Price | $459,990 |
| Avg. Final Sales Price | $538,006 |
| Median Final Sales Price | $454,209 |
| Avg. Price per Sq. Ft. (Sold) | $276.67 |
| Median Price per Sq. Ft. (Sold) | $280.59 |
| Price Difference | -4.29% |
Summary: Over the past year, homes were listed with moderate confidence and sold with minimal discounting. On average, final prices came in about 4.3 percent below list. Price per square foot remained strong, showing buyers placed consistent value on new construction.
180-Day Performance – Rising Aspirations, Softening Closings
| Metric | Value |
|---|---|
| Avg. Original List Price | $633,615 |
| Median Original List Price | $486,302 |
| Avg. Final Sales Price | $532,869 |
| Median Final Sales Price | $449,690 |
| Avg. Price per Sq. Ft. (Sold) | $281.97 |
| Median Price per Sq. Ft. (Sold) | $281.41 |
| Price Difference | -15.89% |
Comparison to 365 Days:
- Average list prices increased by over $71,000.
- Final sale prices remained mostly flat, resulting in a widened discount gap.
- Price per square foot improved slightly.
Interpretation: Sellers raised asking prices aggressively, but buyers did not match that upward trend. The gap between list and sale price widened significantly to nearly 16 percent. Despite this, the price per square foot rose—implying smaller homes or better layouts achieved more efficient pricing.
90-Day Results – Price Alignment Still Absent
| Metric | Value |
|---|---|
| Avg. Original List Price | $625,211 |
| Median Original List Price | $491,875 |
| Avg. Final Sales Price | $526,393 |
| Median Final Sales Price | $476,995 |
| Avg. Price per Sq. Ft. (Sold) | $276.68 |
| Median Price per Sq. Ft. (Sold) | $283.18 |
| Price Difference | -15.81% |
Comparison to 180 Days:
- Original list prices dipped slightly.
- Final prices also dropped slightly.
- Price gap remained large.
- Price per square foot held steady.
Interpretation: Seller expectations adjusted marginally, but not enough to close the gap. Buyers continued to pay significantly less than original list prices. Despite that, pricing on a per-foot basis remained solid, signaling continued interest in the product, though at more competitive values.
March 2025 – Latest Full Month Snapshot
| Metric | Value |
|---|---|
| Avg. Original List Price | $507,928 |
| Median Original List Price | $476,925 |
| Avg. Final Sales Price | $507,907 |
| Median Final Sales Price | $476,925 |
| Avg. Price per Sq. Ft. (Sold) | $286.96 |
| Median Price per Sq. Ft. (Sold) | $283.74 |
| Price Difference | 0.00% |
Comparison to 90 Days:
- Average and median listing prices declined sharply.
- Final sales prices matched list prices exactly.
- Price per square foot rose to the highest level across all timeframes.
Interpretation: Sellers recalibrated their pricing strategy in March. Instead of aiming high and reducing later, they priced homes realistically from the start—and were rewarded with full-price sales. Price per square foot hit a new high, suggesting buyers are willing to pay premium pricing when homes are correctly listed.
Price Trends Summary Table
| Timeframe | Avg. List Price | Avg. Sale Price | Price Gap (%) | Avg. $/Sq. Ft. | Trend Summary |
|---|---|---|---|---|---|
| 365 Days | $562,107 | $538,006 | -4.29% | $276.67 | Balanced pricing |
| 180 Days | $633,615 | $532,869 | -15.89% | $281.97 | Overpriced listings, strong PSF |
| 90 Days | $625,211 | $526,393 | -15.81% | $276.68 | Buyers resisting high list prices |
| 30 Days (Mar) | $507,928 | $507,907 | 0.00% | $286.96 | Realignment and pricing efficiency |
Key Takeaways
- List-to-sale price gaps widened significantly in late 2024 and early 2025, as sellers reached for top dollar but met buyer resistance.
- In March 2025, sellers clearly corrected their pricing, resulting in a 0 percent gap between asking and selling prices.
- Despite variability in total sales prices, price per square foot has continued to rise, showing that buyers remain willing to pay top rates for appropriately sized, well-built homes.
Final Thoughts
The Pasco new construction market has undergone a pricing shift over the past six months. After a period of overambitious listing prices and declining buyer response, March marked a turning point, where realistic pricing met ready buyers and full-price offers followed.
For buyers, March proves that value still exists—but only when sellers are realistic. Carefully compare list prices to recent sales data and square footage metrics to assess fairness.
For sellers and builders, the data could not be clearer: homes priced right sell without negotiation. Overpricing may delay the sale and ultimately lead to larger price reductions.