South county house-for-sale inventory up 72%: Stall in condo market continues

Published 12:11 pm Tuesday, May 13, 2025

LONG BEACH — Pacific County house sales slowed in April and the south county condo market stalled as economic uncertainties and persistently high mortgage rates put the brakes on the real estate market.
The slowdown was particularly noticeable in the peninsula-Chinook-Naselle area, according to statistics from Northwest Multiple Listing Service. Nineteen house sales were finalized at a median price — half sold for more and half for less — of $380,000, a 13% decline from April 2024. Thirty additional sales were pending as the month ended, a 6.25% year-over-year drop.
Fifty-nine new south county house listings brought the total available inventory to 169, 72% more than a year earlier. At the current rate of sales, there are nine months of available invention, well into the range of a buyers market.
No condos were sold in south county in April, but there were three pending sales. After adding seven new listings, the condo inventory stood at 26, or 37% more than a year earlier.
Elsewhere in the county, seven houses sold in Raymond, up from two in April 2024. The median selling price of $225,000 was a year-over-year drop of 26%. Six sales were pending. Available Raymond inventory was 17 — a 32% drop from the year before. The Raymond housing market is comparatively tight, with enough listings to last about 2.5 months at the current pace of sales.
In South Bend, one house sold for $175,000 last month. There were no pending sales, and available inventory was five.
One house sold in Bay Center for $874,000, there is one pending sale, and there are five active listings.
Looking at the county as a whole, there were 28 house sales this April, 12.5% fewer than the year before. The overall median sales price was $346,500, a 3% increase. There were 206 active listings countywide, 48% more than a year earlier.

Statewide stats

As spring gets underway, inventory levels are high but the pace of sales is relatively slow, according to NWMLS’s monthly briefing. The number of active listings showed double-digit year-over-year increases in most counties when compared to April 2024, demonstrating that homeowners are primed and ready to sell.
Buyers were granted a bit of a reprieve as mortgage rates stayed relatively consistent throughout April, finishing out the month at 6.76% – the same rate as the end of March 2025. In addition, the median sales price for residential and condominium sales stayed virtually unchanged from March 2025, increasing from $649,999 to $650,000 in April 2025 in NWMLS’s 26-county area.
“As the number of sellers continues to outpace buyers, it is not surprising that price growth has slowed,” said Steven Bourassa, director of the Washington Center for Real Estate Research (WCRER). Recent media coverage identifies not only socioeconomic uncertainties such as tariffs and inflation, but also the willingness of both buyers and sellers to make concessions as potential factors in final sales prices in the last month.

 

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