If you’re considering buying a home in Pasco within the $325,000 price range, understanding the current trends in the real estate market is essential. Pasco’s market is an active part of the Tri-Cities area, offering unique opportunities and challenges for buyers and sellers alike. Here’s an analysis to help you navigate your next move.
What Does the Market Look Like for Homes Under $325,000 in Pasco?
Over the past 12 months, Pasco saw 55 total listings for existing construction homes priced up to $325,000, averaging 1 listing every 6.7 days. This relatively low number of listings highlights a tighter inventory in Pasco compared to other parts of the Tri-Cities.
In the last full month (December 2024), the market saw 4 new listings, equating to 1 listing every 7.8 days. This slight decrease compared to the 12-month average underscores the ongoing inventory shortage in this price range.
How Fast Are Homes Coming to the Market?
The pace of new listings in Pasco has slowed:
- Past 12 Months: New homes entered the market at an average rate of 1 every 6.7 days.
- December 2024: Listings slowed further to 1 every 7.8 days.
- January 2025: The market remained tight, with no notable increase in new listings.
This trend reflects the challenges of finding new inventory in this price range, requiring buyers to act quickly when homes become available.
How Fast Are Homes Being Sold?
The demand for homes in Pasco has been steady, with homes in this price range selling relatively quickly:
- Past 12 Months: Pasco saw 49 total sales, averaging 1 sale every 7.5 days. The average days on market (DOM) was 43 days, with a median of 16 days.
- December 2024: Sales activity remained consistent, with 4 homes sold and an average DOM of 122 days, reflecting some outliers but still strong demand overall.
- January 2025: Sales slowed, with 3 homes sold, and an average DOM of 16 days, showing that homes are still moving quickly despite reduced activity.
Are These Rates Increasing or Decreasing?
Market activity is showing slight fluctuations:
- New Listings: The rate of new listings has slowed slightly compared to earlier in the year.
- Sales Activity: December 2024 saw steady sales, but January 2025 reflected a slight seasonal slowdown with 3 total sales.
- Days on Market: DOM trends showed a spike in December due to outliers but normalized in January to 16 days, aligning with the yearly median.
What Was the Average Sales Price for Pasco?
For homes sold under $325,000, the sales price has remained relatively stable:
- Past 12 Months: The average final sale price was $279,714, with a median of $299,000.
- December 2024: Prices dipped slightly, with an average of $256,000 and a median of $280,000.
- January 2025: Prices rebounded, with an average final sale price of $312,467 and a median of $310,000, reflecting strong buyer interest.
What Was the Average Days on Market for Pasco?
Pasco’s homes tend to sell faster than they linger on the market:
- Past 12 Months: The average DOM was 43 days, with a median of 16 days.
- December 2024: DOM spiked to 122 days, likely due to outliers, but most homes still sold within a reasonable timeframe.
- January 2025: DOM normalized to 16 days, indicating strong demand in this price range.
Final Takeaways
- Tight Inventory: Pasco’s market for homes under $325,000 is highly competitive, with fewer listings and steady demand.
- Strong Demand: Homes are selling quickly, often within two weeks, and prices remain strong.
- Seller’s Market: With reduced inventory and rising prices, sellers hold a significant advantage in this market segment.
For buyers, preparation is key. Work with a trusted real estate agent, secure pre-approval for financing, and be ready to act quickly when a suitable home becomes available. For sellers, this is an excellent time to list your home, as demand is high, and buyers are paying competitive prices.
Need help navigating the Pasco market? Contact our team today for expert guidance and personalized support. Together, we’ll help you achieve your real estate goals!