Tri-Cities Real Estate Market Update: December 2019

By in Tri-Cities Housing Market with 0 Comments
Published on December 16, 2019 / Last updated on December 15, 2019

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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