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dec2019 market stats

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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Cari McGee

Hi, I'm Cari McGee. 👋 I've lived in the Tri-Cities since 1994 and I've been a licensed Realtor® since 2004. That's a lot of local knowledge and real estate experience that I put into every article you read on my website! We've helped more than 560 families buy or sell property in the Tri-Cities. In 2023, our community voted us the bronze winner for Best Real Estate Team in the Tri-Cities Best voting. Learn more about me by clicking the link right above. And if you have any questions, get in touch anytime!

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