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1st Quarter Tri-Cities, WA Housing Mini-Stats

By in Tri-Cities Housing Market with 1 Comment

These stats are as of 3/12/2010, which I know is a month ago, but they give a pretty good snapshot of the first quarter of 2010’s business.

Which has been excellent!

There were 988 listings on the market, whereas a year ago there were 1178 listings available.  Fewer listings = low supply.  What happens when supply gets low?  If demand stays the same or increases, we see people paying a premium for what is available.  That means it’s a seller’s market.

But, we can’t paint with that broad of a brush in this case.  We have to look at the price points.  In certain price ranges, we have low supply and high demand, which absolutely makes for a seller’s dream situation.  However, the same low supply in a price range with little to no demand makes for a buyer’s market.  Make sense?

The highest demand is for the lower-priced homes.  As a rule, homes under $200,000 are selling at a pretty fair clip, because that’s the range people are buying in and there isn’t one available on every street corner.

That’s why the average sales price for a home is currently $185,847, but a year ago it was $180,177.

The days spent on the market is decreasing, too. Just by 4 days, but 4 days a quarter makes two weeks by year-end and that’s a 13% decrease in marketing time.  How’d you like to be on your way to your new home half a month earlier than you thought?  Pretty nice deal, I’d say.

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About The Author
Cari McGee

My husband and I came to the Tri-Cities in 1994, and we thought it would be a temporary stop on our way to larger cities. He was a television sports anchor at the time, and we planned to go wherever the "next step up" took us. Twenty-plus years later, we're still here and we've loved every minute of it! We have two children now, and we've found the Tri-Cities area is a wonderful place to raise a family. It's a great place to do outdoorsy things -- I like to hike Badger Mountain or run along the river path. I also love reading ... by a cozy fire in the winter or a beautiful picture window in the summer (with the A/C on!). I've been a licensed Realtor since 2004. I earned my managing broker's license in 2016, which means I can run my own brokerage, or create a team of real estate agents and supervise them, which is exactly what I did when I formed the Cari McGee Real Estate Team in 2018! We have administrative and marketing personnel, as well as additional agents to serve you. I became a director of the Tri-Cities Association of Realtors Board of Directors in 2016, became Secretary/Treasurer of the organization, and was elected to Vice President in 2019. Want to talk about real estate? Click here to schedule a meeting with me!

1 Comment

  1. […] homes, the current supply of homes is all there is. Therefore, a seller’s market is created. Limited supply combined with regular or increased demand creates a situation where home prices rise. While this is good news for sellers, it isn’t for buyers. A balanced market is actually the […]

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