EPHRATA – Raymond Gravelle is a real estate agent with Keller Williams Realty, Inc., and serves as the current president of the Grant County Association of Realtors. He was mayor of Soap Lake from 2012 through 2019. For over 20 years, Gravelle has been helping people around Washington become homeowners. 

“What I enjoy most about being a realtor is that I get to help people achieve their dreams,” said Gravelle. “One of the most satisfying moments is when you can hand the keys to a first-time homebuyer and they open up that door and say, ‘This is my new home.’ It is a joyful moment that most all of us love that time.” 

He started his work as a national training coach in Western Washington with a company that marketed real estate advertising and marketing services to around 10,000 clients. As time passed, he and his family moved on from the hustle of the big cities to Soap Lake about 20 years ago.  

Since 2009, Gravelle has been working in Soap Lake and Ephrata, working in residential and, on occasion, commercial real estate. He said the business that is done at Keller Williams Realty makes up 20% of the volume of the realty business in Ephrata and Soap Lake. 

“Our market... the main cities are Moses Lake, Ephrata and Quincy, and of course I live in Soap Lake, so I’m really tuned into that,” he said. “There are some variances between those markets. Ephrata happens to be the strongest of them.” 

Data from the Zillow Home Value Index showed a list of the top 16 towns in Washington State experiencing the highest increase in home price growth rates. Of the 16, four of the towns on the list are in Grant County, with those being Moses Lake at 15, Ephrata at nine, Warden at three and Mattawa at two. 

Ephrata currently sits in a seller's market, having the lowest days on market in the area, decreasing by 43.8% over the last year, with homes selling in an average of 29 days, he said. In comparison, Moses Lake currently sits at an average of 66 days on the market, which is on the higher end and is up 63% from last year, shifting the city from a strong seller’s market to a more neutral market. 

The Quincy market has also seen a dramatic shift as the town moves from being a seller's market into a buyer’s market, as the days on market is up 15.5% at 63 days. Soap Lake is also slowing down as the average is now up to 46 days to sell a home, said Gravelle. 

“That days-on-market is important to give an indication of how fast the inventory is selling,” he said. “If we were to compare that to 2022, it was down in the teens across all of those markets. So, obviously, it slowed down, we have more inventory.” 

Gravelle said Grant County overall is leaning into a buyer’s market as people have more inventory to choose from and are being far more selective due to the current interest rates.  

“They’re just not in that buying frenzy of hurrying up to get the next house that is even close to what they want,” said Gravelle. “It takes a lot of pressure off of the buyers, and it’s also a good time for buyers because of the weakness in the market. For the sellers, they’re more willing to negotiate.” 

Buyers waiting for interest rates to go down again should also reconsider their choice, he said. While interest rates currently sit at about 6.5% which is a significant increase from the 4% from a few years ago, he said this is about average when looking back over the last 20 years. 

Those deciding whether to buy a home in the current market are advised to at least get in contact with a real estate professional who can get them in contact with a reputable lender for preapproval, he said. 

“Find an agent that is going to send you updated listings, get on Zillow, set up the notifications for the search criteria that you want, and then be ready to make a purchase when something comes on that matches what you want,” said Gravelle. Get your realtor to negotiate on the price of those things because those days may not be around for much longer, especially if interest rates go down.” 

    President of the Grant County Association of Realtors, Raymond Gravelle works as a real estate agent with Keller Williams Realty Inc. He said the award-winning company currently makes up 20% of the volume of realty business in Ephrata and Soap Lake.