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Tri-Cities Real Estate Market Update: December 2019

By in Tri-Cities Housing Market with 0 Comments

The holiday season is here, and it’s showing up in this month’s real estate market update. The number of active listings is down this month across the board — Pasco is the lone exception, with five more homes available than when we checked last month. Everywhere else, inventory is down between 5-20%.

The number of homes sold is also down overall, and more pronounced than the drops in inventory. Homes sold in Kennewick and Pasco were both down 20% or more from a month ago. Days on market is also up across the board, with homes staying on the market a couple days longer than last month.

This is all typical for the Tri-Cities market (and most others across the country, no doubt). Looking at the market changes between November-December 2018, I’m seeing pretty much the same holiday slowdown that we see this year. Here are some other interesting bits of info about the Tri-Cities real estate market this month:

  • That total of 370 homes sold last month is the lowest we’ve seen since May’s market update, which showed only 327 homes sold the prior month.
  • The 13 days on market for the whole area is the slowest it’s been since May, which was also 13 DOM.
  • Pasco is the only city we watch where both active inventory went up and days on market went down.
  • That total of 87 homes sold in Pasco is the lowest we’ve seen since March.
  • Don’t read much into the increases in median sales prices in West Richland, Benton City and Burbank. With so few homes sold each month in those areas, a few sales here and there can have an oversized impact on monthly stats.

Give us a call, text or email if you ever have questions about the housing stats here in the Tri-Cities, or even in your specific neighborhood. We’ll be keeping a close eye on the market to help our clients make the best decisions for their buying or selling situations!

(*Remember that days on market can sometimes be skewed by how new construction homes are processed in the MLS.)

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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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