Home Sales Continue Strong In Yakima County
Even though the COVID-19 pandemic continues home sales remain strong in Yakima according to Cory Bemis owner of Yakima's John L. Scott Real Estate. Many people are looking for homes in Yakima with a 1 percent rental rate it's not easy to find a place to live say city officials. But people are finding homes to purchase.
In fact Bemis says the 2021 January Median Home Sales Price in Yakima is $309,750. That's a 23.9% increase from last January when the average price was $250,000. The 2020 year-end median home sales price was $276,000. A lot of homes have already sold in 2020 as families continue to work through the pandemic crisis. There were 110 total homes sold in January, 2021. That is a 13.4% decrease from the 127 homes that sold in January of 2020.
Bemis says in 2020, there were 1,926 homes sold which is an 8.5 % increase over 2019.
He says the year ended strong. There were 184 total homes sold in December of last year, a 46% increase from the 126 homes that sold in December of 2019.
Lots of people are in the market with current 30 year fixed rate mortgages averaging a 2.86% interest rate.
City officials say work to develop the Housing Action Plan is already underway. The work started in 2020 and will continue until June of this year. A press release says the plan will consider the housing needs of current residents and workforce, as well as projected future population growth. City officials say many people are looking for affordable housing in safe areas. Construction is underway in some areas of the city where new housing is planned but city officials are developing an overall plan.
City officials say they'll focus on four goals; Provide more housing types and opportunities within existing neighborhoods. Home ownership opportunities for low- and moderate-income families. Housing solutions for seniors and elderly residents and temporary and permanent supportive housing for those struggling with homelessness. You can take the survey Today.