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3rd Quarter Tri-City Real Estate Stats

By in Tri-Cities Housing Market with 0 Comments

Sorry it’s been so long, everyone!  I’ve had a super busy 3rd quarter, and October hasn’t seen a slackening at all.  So, no real time to put numbers together for a stat post.  However, I do hate to go too long without covering the numbers, so here goes…

Let’s take a look at the upper end market…$350,000 +

In July, 211 homes in that range were on the market, comprising 16% of the available homes. 20 homes went under contract, and we had 10.55 months of inventory to sell through.

In August, 206 homes in that range were on the market, comprising 15% of the available homes.  19 homes went under contract, and we had 10.84 months worth of inventory to sell through.

In September, 215 homes in that range were on the market, comprising 15% of the available homes.  18 homes went under contract, and we had 11.94 months worth of inventory to sell through.

tri-city-real-estate-stats

Now, compare this to last year – same months

JULY…190 homes, 18% of the market, 15 went under contract and we had over one year’s worth of inventory!

AUGUST…177 homes, 17% o’ the market, 18 went under contract, just 9.83 months of inventory.

SEPTEMBER…166 homes, 16% of the market, and 22 homes went under contract, meaning we had just 7.5 months of inventory.

So, as the 3rd quarter progressed last year, inventory shrunk because fewer high-end homes came on the market, and more of what was available went into escrow.

This year, inventory stayed roughly the same, but sales decreased, increasing time spent on the market.

What does this mean?

Now is not a good time to put a high-end home on the market, BUT if you asked me the same question in July of last year, I would have told you the same thing.  And I would have been wrong.

Soooooo…bottom line, put your house one the market when you need to.  Don’t worry about the right time, or the market trend.  Do it when you need to, because there is never any real way to say when and what and for how much, as these two Q3 year-by-year comparisons indicate.

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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!

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