Yakima Home Prices Climb 5% as Market Gains Steady Momentum

Are you thinking of buying a new home? The Yakima real estate market continues to see steady growth reflecting a healthy and resilient housing sector according to Cory Bemis owner of Yakima's John L. Scott Realty. He says home prices are on the rise.

INCREASES ACROSS THE BOARD

Bemis says the latest statistics reveal an increase in home prices, sales volume, and active listings, signaling a market that is gradually moving toward being more balanced.
Bemis says the median home sales price in Yakima now stands at $367,925, representing a 5.15% increase from last year’s year-to-date median price of $349,900. He says an upward trend shows continued demand and appreciation in the local housing market.

Get our free mobile app

THAT'S A LOT OF HOMES

In July alone, 193 homes were sold, marking a 10.9% increase compared to July 2024, when 174 homes changed hands. Year to date, total home sales have reached 1,072, up 11.8% from 959 sales recorded the same period last year.

LOWERING INTEREST RATES

Bemis says mortgage interest rates for 30-year fixed-rate loans are averaging 6.57%, according to MortgageNewsDaily.com. This rate has decreased slightly from 6.75% a month ago but remains higher than the 6.40% rate from a year prior.
He says market analysts describe the current Yakima real estate environment as one of "balance and steady growth."

LOTS OF INVENTORY

Bemis says the number of active listings has risen to 562- the highest since October 2016-suggesting an increase in the people who want to sell a home and creating more inventory.
He says the experts think the market will continue its steady growth through the upcoming months, with possible shifts as the market prepares for the winter season.
Bemis recommends buyers and sellers to monitor these trends closely.