Tri-Cities Real Estate Market Update: February 2020

By in Tri-Cities Housing Market with 0 Comments
Published on February 7, 2020 / Last updated on February 6, 2020

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.)

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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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