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Tri-Cities Real Estate Market: January Stats

By in Tri-Cities Housing Market with 0 Comments

Here’s an interesting little fact that seems to fly in the face of a basic economic law – our average sales price is down, and yet our inventory is low and demand is high. Usually, low supply and high demand translates into increasing prices.

The reason for this is as follows – the low-end of the market dominated the sales at the end of ’09 and into January of 2010. It wasn’t that most houses sold for less. It was that the majority of homes sold were homes at the lower-end of the market.

Take a look at this chart – 55% of the houses sold in January sold for below $174,900.

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Which brings the average sales price for January to $184,400, which is 3.2% drop from the whole of 2009, which experienced only a .6% drop from 2008.

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Be sure to download the whole thing (3mb PDF) if you’re a fan of charts and graphs (and I’ve heard from those of you that are – “Where are the facts and figures, Cari?”).

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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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