Unique home town
Aug. 4—QUINCY — The old saying in real estate is that it's all about "location" — a word that means a variety of things., Quincy makes the point; it's like all other towns in Grant County, but it's not.
"The Quincy market is different," said Tom Parrish, managing broker at Windermere Real Estate Central Basin-Quincy office. "Based upon one factor, and that's price."
Micaiah McCreary is a real estate agent in Quincy and has been selling property there for about seven years.
"It's different. It's kind of always been different," she said.
Anna Lucero, realtor/broker with Century 21 Alstead Real Estate in Moses Lake, said Quincy has some characteristics in common with other towns in Grant County, namely, there's still substantial demand, although the market has eased.
"It's still a hot market in the bigger towns," she said.
However, Parrish said there's still a difference in Quincy, when compared with towns like Moses Lake or Ephrata.
"In Quincy the price is trending to be higher," he said.
Prospective buyers have more options for what he called "affordable housing" in larger communities, he said.
"There's a lot wider range to choose from," he said.
There are fewer houses in general, McCreary said, whether it's properties for first-time buyers to houses with lots of square footage or acreage.
"There's definitely a housing shortage," she said.
Quincy has seen some construction in the last couple of years, with a housing development by Palos Verdes LLC, Othello, nearing completion on the southwest side of town. It's still a work in progress — there were foundations being poured and walls going up as of Aug. 1. Owners of Palos Verdes plan another development north of town, next to Quincy High School.
McCreary said Quincy could use additional housing options — she cited rental options and multi-family housing like townhouses as examples.
Houses do not come on the market as often in Quincy, she said, and when they do prices are staying pretty steady.
Quincy is still in demand for people from out of the area, Parrish said.
Lucero said property in Grant County is still in demand in general, evidenced by the inventory on hand. Ideally, there should be about three months' worth of inventory, she said, and there's about two and a half months' worth.
Still, the market has cooled since 2021, the real estate agents said. Higher interest rates have changed the calculus of buyers. But then, real estate is always adjusting to changes in market conditions, Parrish said.
"It's cyclic," he said. "The market is now evening out."
McCreary agreed with Parrish.
"(The market) definitely ebbs and flows, kind of goes up and down," McCreary said.
Buyers are still expecting lower interest rates, and sellers are still expecting those higher prices, Parrish said. The market, in Quincy and elsewhere, is still adjusting.
Lucero said one of the first steps for her clients is a comparative market analysis, looking at the neighborhood, the house's condition and assessing its appeal to prospective buyers.
"Curb appeal, that's a big thing too," she said.
Buyers should review their financial picture, Parrish said, and think about reducing debt before they apply for a home loan. McCreary said people should apply for advance approval for a loan, so they are ready if a house becomes available.
Lucero said houses are still selling and are still available in Quincy and elswhere, if buyers and sellers understand the market.
"If you price it to sell, it's moving," she said.
Cheryl Schweizer may be reached at cschweizer@columbiabasinherald.com.
