Tri-Cities Luxury Home Sales Soar to New Record in 2025

For the second straight year, the Tri-Cities set a new record with 85 luxury home sales in 2025.

That smashes the 61 luxury home sales in 2024, which itself was also a record. It represents a 39% rise in million-dollar home sales.

Let me put this in perspective with what might be the most mind-blowing bit of data: Ten years ago, in 2015, the Tri-Cities had only one home sell for $1 million or more.

(Reminder: Our market stats include only the immediate Tri-Cities area: Kennewick, Pasco, Richland, West Richland, Benton City, and Burbank.)

Here’s some data about the 85 luxury sales the Tri-Cities had in 2025:

• New construction: 28 homes (33%)
• Existing homes: 57 homes (67%)
• Median list price: $1,249,999
• Median sales price: $1,200,000
• Average list price: $1,308,964
• Average sales price: $1,272,783

Based on those numbers, these luxury homes sold at 96% of their median list price and 97% of their average list price. In fact, 51 of the 85 — that’s 60% — sold below the original list price. On the flip side, 17 homes (or 20%) sold above list price.

As a group, the 85 homes spent a median of 24 days on market, and an average of 70 days on market. Those numbers are skewed somewhat by the number of new construction homes that sold above a million dollars — many of which are added to the MLS as having spent 0 days on market. If you look only at existing homes, those sold at 36 median / 82 average days on market.

Which Tri-City Had the Most Luxury Home Sales?

Six of the ten most expensive home sales last year were in Kennewick, including the top three. In fact, for the second straight year, Kennewick dominated the Tri-Cities luxury home market with more million-dollar sales than any city in the immediate area. Here’s a city-by-city breakdown of 2025’s luxury home sales:

• Kennewick: 34
• Pasco: 21
• Richland: 20
• West Richland: 5
• Benton City: 3
• Burbank: 2

Why are There More Million-Dollar Sales in the Tri-Cities?

I’ve suggested 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
• a lot of new residents have relocated here after selling homes for much more money in other cities, then bought or built homes on the higher end of our price range

But remember, this rise in luxury home sales is happening at a time when — at least for the past four years or so — Tri-Cities home prices have been relatively flat.