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Tri-Cities Real Estate Market Update: July 2019

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We’re halfway through the year and the Tri-Cities real estate market continues to favor sellers. The July market update is above. Here are some key points from this month’s market snapshot:

  • Our median sales price continues to rise, and is now up to $310,000 across the six cities we track. That’s an all-time high.
  • Combine that with a median of only 7 days on market* and we continue to have a strong seller’s market. If you’re curious, just four months ago the median DOM was 28 days!
  • Inventory continues to rise, albeit slowly. The 563 active homes in this month’s snapshot is the highest since back in February, when we saw 604 homes on the market.
  • Last month’s 447 homes sold is the highest that number has been since 468 homes were sold last October.
  • While activity has picked up in Kennewick, Pasco has been fairly stagnant in terms of active listings and homes sold. The number of active listings in Pasco over the past four months has stayed between 119 and 124 homes, while the number of homes sold has stayed between 91 and 104.
  • Check this out: In Richland, the number of active listings has gained by 1 each of the past two months. But in that same time frame, the number of sold listings has almost doubled (from 70 two months ago to 137 this month).

As always, give us a call, text or email if you ever have questions about the housing stats here in the Tri-Cities, or in your specific neighborhood.

(*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. I became a director of the Tri-Cities Association of Realtors Board of Directors in 2016. I am on the Budget and Finance Committee there, as well. I love serving the citizens of this community, and my fellow Realtors, too. Want to talk about real estate? Click here to schedule a meeting with me!

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