MOSES LAKE — Just a few years ago, homes for sale in the Basin were few and far between. Today, things seem to have moved more or less back to normal. 

“I would say that it’s a changed market from what we became accustomed to during the hot market times when homes were selling in a week or sometimes less with multiple offers,” said Tom Parrish, branch manager at Windermere Real Estate in Quincy. “(It was) very favorable to sellers. (Now it’s) shifted to a more of a neutral market, which means that it doesn’t necessarily favor one or the other, although it is probably trending towards favoring the buyer side.” 

Economic uncertainty and the rise in interest rates have meant that the hot market isn’t coming back any time soon, Parrish said. The buyers are there, he said, but they’re not desperate. 

“There’s kind of like a dam,” he said. “That dam (is) the uncertainty, the interest rates, all the above … It has slowed the market down. It’s causing sellers to have a change of mindset. Prices were going up at an exuberant rate like we’d never seen before, and then it kind of stalled out, and now we’re seeing some price reductions.”  

Grant County has a fairly diverse housing landscape, with a wide range of availability and affordability. In September, the median home price in Moses Lake was $234 per square foot and in Ephrata $203 per square foot, while in Coulee City, it was only $150. 

Those homes appeal to different sets of buyers, said Johnny Reyes, with Windermere Real Estate in Ephrata. 

“Those towns that are a little bit further out, it’s more people who are wanting to retire and relax and get away from the noise of the city,” he said. “Or (they’re) looking for fishing, hiking and stuff like that draws them … If you have to drive 15, 20 minutes to Moses Lake or Ephrata, it’s not that big of a sacrifice in exchange for the peace and quiet that they’re looking for in small towns.” 

The important thing, Reyes said, isto talk to a Realtor and find out what the options are. 

“The homes are there,” he said. “We have lots of homes and with the market having gone a little bit a little bit slow for part of the summer, now’s a good chance for buyers to get in on a good opportunity and present a good, competitive offer.”