(509) 392-4705

Just a call or text away!

830 N. Columbia Center Blvd. Suite H

Kennewick, WA

Tri-Cities Real Estate Market Update: February 2020

By in Tri-Cities Housing Market with 0 Comments

It’s not a surprise that there’s a lot of red on this month’s Tri-Cities housing market update — that’s to be expected at this time of year. But there are two surprising things:

1.) How red some of those numbers are, and
2.) Two of the active listing counts are actually green

That 23% drop in sold homes (last month) is unusually large for a single month. By comparison, a year ago that number was 7%. As you can see, much of the drop in homes sold happened in Pasco, which went from 115 to just 71 homes sold.

The 8% drop in active listings across the area isn’t odd; a year ago at this time, we saw a 13% drop there. And in fact, it’s a bit unusual to see even those small increases in inventory in Pasco and Richland. Last February, none of the cities we track saw an increase in active listings.

Here are a couple other things to know about this month’s numbers:

  • Tri-Cities active listings have dropped for four straight months. (Again, not unusual.) Kennewick’s actives have done the same.
  • The 291 homes sold across the area is the lowest monthly count since last April (286).
  • The 71 homes sold in Pasco is the lowest since last March (65).

Get in touch if you ever have questions about the housing market 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.)

Get in touch with Cari's team!

Have a question about the Tri-Cities? About the process of buying or selling a house? Get in touch with us below -- name and email are required so we can respond. Please provide your phone number if you'd prefer a call or text message in return.
  • We share Tri-Cities news, real estate tips and local market stats and much more. It's free and you can easily unsubscribe at any time.
Share This
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!

Leave a Reply

Your email address will not be published. Required fields are marked *