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Tri-Cities’ Median Home Sales Price Passes $300K

By in Tri-Cities Market with 0 Comments

For the first time, the median price of a Tri-Cities home has risen above $300,000.

Here’s a chart that we recently shared in our June newsletter showing how median prices have changed over the past six months. It almost happened back in January, then prices dropped a bit for three months and we finally hit the $300K mark in May.

This chart represents data that we collect from the Tri-City Association of REALTORSĀ® and PACMLS. The data you see above cover six cities: Kennewick, Pasco, Richland, West Richland, Benton City and Burbank.

TCAOR tracks its own data, too, but covers a wider area: Basin City, Benton City, Burbank, Connell, Eltopia, Finley, Kahlotus, Kennewick, Kiona, Mesa, Pasco, Paterson, Plymouth, Richland, Wallula, West Richland.

Despite the difference in areas that we track, TCAOR also reports that the median home sales price went above $300K for the first time in May; in their tracking, the exact figure is $302,900. For the sake of comparison, let’s look a few years back to see how home prices have skyrocketed in the Tri-Cities:

  • May 2015: $198,500
  • May 2016: $225,700
  • May 2017: $245,000
  • May 2018: $279,800
  • May 2019: $302,900

All of those are TCAOR numbers covering the wide area listed above. The median home price has gone up 52.6% in just five years.

Remarkable, isn’t it?

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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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