More Listings and Less Competition Are Changing Yakima’s Housing Market
Thinking about buying or selling a home in Yakima?
Healthy growth in the Yakima real estate market continues says Cory Bemis owner of Yakima's John L. Scott Realty.
COSTING MORE TO BUY A HOME
Bemis says the current median home sales price is $368,850, marking a 5.39% increase from last year’s $350,000, which Bemis says reflects the ongoing healthy growth happening in the local housing market.
HOME SALES ON THE RISE
164 homes were sold in August, representing a 10.1% increase from August 2024, when 149 homes changed hands. Overall, the year-to-date sales have reached 1,241 homes, up 12.0% from the same period last year, which saw 1,108 homes sold.
CHANGING MORTGAGE RATES
Mortgage rates as of September 8th average around 6.28% for a 30-year fixed-rate mortgage, according to MortgageNewsDaily.com. Bemis says that's a slight decrease from last month’s average of 6.57% and remains nearly unchanged from a year ago when rates were at 6.27%.
A HEALTHY GROWING MARKET
He says the number of homes currently on the market has "steadily increased, surpassing 600 listings last month." So far this year there are 18% more homes for sale compared to last year, giving buyers more options and reducing competition. Along with a rise in listings sales have also grown 12% over last year.
BUYERS IN NO HURRY
As the market balances, some homes are taking a little big longer to sell—August’s average days on market was 82 days, and the current absorption rate is about 3.97 months. Bemis says overall Yakima’s real estate market in 2025 is showing stability, with ongoing growth.
Most Expensive City in WA to Heat Up a Home in the Wintertime
Gallery Credit: Reesha Cosby
