After a one-year drop in 2023, the number of million-dollar home sales in the Tri-Cities set a new record in 2024.
Last year, 61 homes sold in what we consider the “luxury” level — $1,000,000 or more. That’s up 22% from 2023 and the most million-dollar homes ever sold in the Tri-Cities in one year.
Those 61 homes sold at a median price of $1,185,776 and spent a median of 24 days on market. If you like averages more than medians, the 61 sales had an average price of $1,238,600 and an average of 53 days on market.
As recently as 2019, we had less than 10 homes sell for a million dollars or more. And ten years ago, we only had one! Here’s a chart going back to 2012, when there were no homes that sold above a million dollars.
The most expensive home sold in the Tri-Cities last year was 11905 Cordon Crest Court in Pasco, which sold for exactly $2 million after 45 days on the market.
Five of the top 10 sales last year were homes in Pasco. But on a city-by-city basis, Kennewick dominated the Tri-Cities’ luxury home market in 2024. Here’s how many of last year’s luxury sales happened in each city:
If you’re wondering why the number of million-dollar sales has jumped in recent years, I’ve said before that there are probably three things that all came together at the same time: home prices went up substantially during the pandemic, the cost of building a home has gone up significantly in that same time frame, and a lot of new residents have bought or built homes on the higher end of our price range.
(Reminder: Our market stats are focused on Kennewick, Pasco, Richland, West Richland, Benton City, and Burbank.)