April 2008 Tri-Cities, WA Home Sales Stats

Ah, it’s time for the charts and graphs. Some of you have written and told me how much you love this monthly recap. Sorry this one was late –

Sales are down, prices are down, inventory is down. But, it’s not as doom and gloom as it might appear. Take a look at the breakdown of inventory by price. The largest portion of houses for sale is in the over $350,000 range. In an area where the median sales price hovers around $168,000, you can bet a house priced at twice that amount is going to stay on the market for longer, and sell for less when it does sell. When almost 20% of your market is out of reach for the average consumer in your market, you’re going to see numbers that suggest a downturn. The rest of the market is selling at the same pace we’ve seen in years past.

April 2008 Tri-City Real Estate Market Statistics (675k PDF)