Despite Pandemic Local Real Estate Market is Booming
Many realtors agree the local real estate market has been hot and there's no sign it's going to cool down anytime soon. The pandemic has impacted many businesses in Yakima but not the local real estate market. Sales have been up across the board for months. COVID-19 has certainly kept a lot of people at home wishing they lived in a different home and that may be part of the reason for strong real estate sales so far this year in Yakima County. Home sales have been strong in both the city and county.
According to Kristi Wilbert an affiliate member of the Yakima Association of Realtors the 2020 Year To Date December average home sales price county wide is $279,000 which is a 12.6% increase from last year when the price was $248,000.
There were 292 total homes sold county wide in December 2020. That's a 36% increase from the 214 homes that sold county wide in December 2019.
There have been 2,994 homes sold in 2020 county wide, a 3.7% increase from last year when the number was 2,888.
Wilbert says the residential sales volume is also up from last month November 2020 (282) to December 2020 (292) county wide. She says residential sales volume continues to shine despite pandemic restrictions.
Many people move within the city and county but others are moving into the state from around the nation. In fact the state's population is growing. According to Washington State Government Washington's population at 7,656,200 which is an increase of 109,790, or 1.45%, since last year. All those people are looking for homes and many are purchasing homes in the Yakima Valley.