Ellensburg Real Estate Mid-Year Check-In

Real estate rarely moves in a straight line, and this summer’s numbers are a good reminder.

Here’s what the latest Northwest MLS figures for our Ellensburg area tell us about July and the year so far.

Prices continue to hold their ground. In July, the median residential sales price reached $488,500, up 7.7 percent from a year earlier, and the average rose to $538,133. Year-to-date, the median sits at $453,035, up 5.4 percent from 2025.

Those gains deserve context, because they reflect a shift in what is selling as much as rising values. For several years, D.R. Horton’s Black Horse community made up roughly 10 percent of area sales, most priced in the mid-to-upper $300s and low $400s. As that lower-priced new construction has wound down, fewer of those homes are pulling the median and average downward. So part of the increase is a change in the mix of homes selling, not appreciation alone, and a rising median doesn’t mean every home is worth more.

The bigger story is on the supply side. New listings in July totaled 42, down about 19 percent from a year ago, with year-to-date listings off roughly 8 percent. Many homeowners locked in low mortgage rates in earlier years and are reluctant to give them up, which keeps competition among sellers limited and helps keep prices firm even as sales volume softens.

Closed sales fell to 32 in July, down nearly 24 percent from last July, with 193 homes sold year-to-date. Because closings reflect homes that went under contract 30-45 days earlier, that dip traces back to slower May and June activity, when elevated interest rates, inflation, and global uncertainty gave some buyers reason to pause. 34 Homes went under contract in July, and in August: 45 homes are currently pending, on par with 44 a year ago, a sign demand is
steady.

Homes are taking about 36 days to sell, unchanged from a year ago, and sellers received 99.1 percent of list price in July (99.7 percent year-to-date). Months’ supply has edged up to 4.2, giving buyers a bit more options.

There’s another sign of balance: 44 percent of last month’s sales included seller concessions, such as credits toward closing costs, rate buydowns, or repairs. That’s a real shift from the peak years, when buyers competed without asking for extras. Sellers are now more willing to negotiate on terms even as list prices hold firm.

What does this mean for you? For sellers, limited inventory and firm prices remain an advantage, though pricing strategically still matters, since overpriced homes sit while realistic ones move. For buyers, the pace is calmer, with room to weigh a decision, request inspections, and avoid waiving contingencies. Above all, a home is both an investment and a place to live; when the timing is right for your life, local conditions tend to work out over the years you own it. Figures from the Northwest Multiple Listing Service Local Market Update, July 2026 (ZIP 98926). Current as of August 3, 2026.