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All Three Cities Reach $300,000 Median Sales Price Milestone (West Richland, too!)

By in Kennewick Real Estate with 0 Comments

Last month, for the first time in Tri-Cities history, all three cities plus West Richland had median home prices of $300K or more.

I’m referring to each individual city passing the $300K mark — that’s never happened before. The Tri-Cities as a whole first hit the collective $300K median price milestone just over a year ago.

We’ve been close to the individual milestones in each of the past 4-5 months, but it finally happened in June thanks to both Kennewick and Pasco jumping from the $290K range to above $300,000. Here’s a chart we made to show median home price fluctuations since the start of 2020.

Tri-Cities Median Home Prices 2020

This is only the second time that Pasco home prices have reached a median of $300K. The first time was 18 months ago — all the way back in January 2019! That month Pasco had a median price of $300,950 and Kennewick — at $280,000 — was the only one below $300K.

And remember, all this is happening in the midst of a national pandemic. A couple months ago we asked if COVID-19 would negatively impact home prices, and shared some early evidence that suggested it wouldn’t. That seems to be the case now that we’re 4+ months into the pandemic. Our inventory is low and that’s keeping home prices strong.

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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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