Snapshot: 38% of Tri-Cities Homes for Sale Had Their Price Reduced

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When we ran the numbers for our September housing market update earlier this month*, it was pretty surprising to see how many current listings had their price lowered: 233 of the 615 available homes had seen a price reduction, which is about 38%.

I don’t know for sure what “normal” is for the Tri-Cities, but 38% feels high to me. It’s definitely much higher than what we’ve seen in the past two years — very few homes needed a price reduction during the pandemic. Back before the pandemic, I doubt 38% was normal.

Price reductions were most common in Richland and Kennewick, and least common in Pasco and Benton City.

Hopefully, homeowners will soon realize (and their agents will do a better job explaining) how much our housing market has changed just in the past few months.

If you’re selling your home soon, you really have to work with your Realtor® to understand where home prices in your neighborhood are, and where they’re going. If you’re working with me, I promise to give you all the information I can to help you understand and decide the right list price!

*We did our market snapshot on September 5.

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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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