Another hot year expected in local real estate

January 10, 2022

Montana Mortgages

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Even though it’s a cold winter, the Yakima real estate market remains warm with more homes now available in the local market.

More homes are now on the market and the list is growing

According to Cory Bemis, owner of Yakima’s John L. Scott Real Estate, this is the biggest news in the business. He says the number of homes currently for sale rose to 406 in December 2021. This is 71% more than the 237 homes that were actively for sale a year ago in December 2020. Bemis says “look for that number. continues to rise slowly through 2022 as higher interest rates help reduce buyer demand. ”If you were looking for a home last year, the median home selling price in 2021 was $ 323,000. This is a 17% increase over last year when the price was $ 276,000. Home sales increased 16% in 2021 with a total of 2,265 homes sold.

Even though it was December, many people still moved into new homes

As for the month of December. 191 homes sold last month. This is a decrease of 2.6% from the 196 homes sold in December 2020.
According to MortgageNewsDaily.com, 30-year fixed rate mortgages have an average interest rate of 3.5% right now. This is 0.64% more than a year ago.

The past two years have seen gains across the board in the local real estate market and there is no sign of the market slowing down for anything including COVID-19.

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Each beach town has its own set of pros and cons, which got us thinking about what makes a beach town the best to live in. To find out, Stacker took a look at WalletHub data, released on June 17, 2020, which compares US beach towns. Ratings are based on six categories: affordability, weather, safety, economy, education and health, and quality of life. Cities had a population of 10,000 to 150,000, but they had to have at least one local beach listed on TripAdvisor. Read the full methodology here. From these rankings, we have selected the top 50. Readers who live in California and Florida won’t be surprised to learn that many of the cities featured here are in one of these two states.

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