Most Expensive Tri-Cities Homes Aren’t Selling

By in Tri-Cities Housing Market with 0 Comments

I went to a continuing real estate education class last week up in Bellevue, WA. It’s a gorgeous city with a great mall (can you say Burberry, Apple and Nordstrom? I am still lusting after the purse I saw in the Michael Kors store. Good thing it isn’t local, or otherwise I wouldn’t get any work done. I’d just go and sit in the store to visit my purse all the live-long day. But I digress…). It also has a lot of high-end real estate. Agents were tossing around “million-three” and “two-six” (as in two million, six hundred thousand!) or “reasonably priced at seven seventy-five.” :-O

How does that compare to Tri-Cities real estate? Our average sales price is in the 180’s! As in, one hundred, eighty thousand-dollar range!

March’s real estate market stats paint a pretty bleak picture for the small portion of our market which is our upper-end.

In the Tri-Cities, we have 73 homes (out of about 1,000 listed) available at prices from $500,000 and up. In March, two of those sold and one went into escrow. So, at a rate of one per month, we are looking at six years to exhaust the supply of upper-end homes. And that’s if nothing new came on the market. Six years! Yikes! That’s a buyer’s market on the most extreme end!

You can click here to download the full March 2010 Tri-Cities Real Estate Market statistics. (PDF, 3mb)

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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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