Agent breaks down Mattawa area housing trends
GABRIEL DAVIS | Hagadone News Network | UPDATED 2 years AGO
Gabriel Davis is a resident of Othello who enjoys the connections with his sources. Davis is a graduate of Northwest Nazarene University where he studied English and creative writing. During his free time, he enjoys reading, TV, movies and games – anything with a good story, though he has a preference for science fiction and crime. He covers the communities on the south end of Grant County and in Adams County. | December 1, 2023 1:30 AM
MATTAWA — According to Century 21 Alsted real estate agent Julie Johnson, who is based out of Moses Lake but covers all of Grant County, the housing market in Mattawa and Desert Aire is in line with trends for the national market.
Johnson outlined trends from 2020 to 2023, based on data from the Northwest Multiple Listing Service.
“In 2022, all the way till the end of November, from Jan. 1 to November, there were 35 homes that sold and 30 of those were in Desert Aire itself and five were on the outskirts of Mattawa,” Johnson said. “They spent on average 37 days on the market and sellers received on average 96% (of the listing price).”
The median list price in 2022 was $452,000, Johnson said.
“Then in 2023, 22 homes sold. So there we see a decline in sales, and all of these homes were in Desert Aire and they spent on average 72 days on the market, so almost twice as long,” Johnson said. “And sellers got 93% of their asking price …The median home price was $418,000 on average, so that's also kind of a significant drop, and from what I could find there are 31 short-term rentals happening in Desert Aire.”
Looking back at 2020 and 2021 shows a different situation from 2023, with homes selling quicker.
“The stats in 2020; 46 homes sold. 44 were in Desert Air, two were in Mattawa. They spent 49 days on the market on average. Sellers received 96% of asking price and the median home price was $319,000,” Johnson said. “In 2021, 50 homes sold … 48 in Desert Aire, two in Mattawa. They spent on average only 29 days on the market, and sellers receive 97% of asking price, and home prices on average were $392,500.”
Johnson said the COVID-19 pandemic had an impact on the market.
“So these two years would have these higher numbers, because that's how things just went on the market, and they sold,” she said.
Johnson said Mattawa and Desert Aire’s trends are not necessarily negative overall, before providing more detail on the market’s current interest rates.
“When interest rates, go up, depending upon the buyer’s condition it can increase the mortgage payment significantly for them. So it just can make it a little bit harder for buyers. Not all buyers, it just depends on the loan, the kind of loan,” Johnson said. “But typically when interest rates are higher home prices tend to be lower, which is what we're finding right now, and we can kind of see it there from sellers getting 96% of the asking price versus 93% of the asking price.”
Johnson elaborated on the trends overall.
“It's kind of like everything was up, and it went up, and a home sold fast, and then now we're seeing kind of the national trend of things slowing,” she said, “but it doesn't mean things aren't selling.”
Mattawa’s market trends line up with that national market, Johnson said.
“The national trend right now is homes are taking longer to sell. Not like years ago, when it could take six months to sell at home,” Johnson said. “I think people got spoiled during the COVID time of like ‘Oh, we can just slap a price on a home and bam, multiple offers same day’ and now buyers, because the payments are a little bit more, they’re a little pickier about what they're putting their money into, they're not as quick to jump on that.”
Johnson said it is difficult to say conclusively whether the market is a buyer's market or seller's market, as it is dependent on individual factors.
“(It’s like) a teeter-totter, when interest rates go up prices are on the other side,” she said. “When interest rates go down buyers can afford a higher price than what they probably would have paid ... So it's going to depend on the individual buyer.”
Johnson then shared her advice for prospective Mattawa homeowners, saying they should go to a lender first and foremost who can help them with the process.
“They want to definitely get pre-qualified first,” Johnson said. “That's always super important.”
Gabriel Davis may be reached at [email protected]. Download the Columbia Basin Herald app on iOS and Android.
Century 21 Alsted Real Estate Agent Julie Johnson said Mattawa, pictured, and Desert Aire’s housing market is in line with national trends.ARTICLES BY GABRIEL DAVIS
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