Tri-Cities Real Estate Market Update: June 2019

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It’s time to look at the latest monthly market snapshot, and we’ve added a fourth row to our graphic above — median days on market. Now you can see how quickly homes are selling across the area, and on a city-by-city basis! (Note: Days on Market data can be skewed higher by when builders enter their new construction homes into the MLS. Days on Market for existing homes is probably lower than what you see above.)

Here are some key points from this month’s market snapshot:

  • The median sales price of homes in the six cities we track surpassed $300K for the first time last month — $302,950 to be precise.
  • Median days on market across the area is down for the third straight month to just 10 days in May.
  • After three straight months of declining inventory, we’ve now had two consecutive months with a slight rise — just four percent this month, same as last month’s gain. Not much, but that’s better than seeing inventory continue to fall!
  • The number of homes sold across the area has now risen for four straight months. Last month’s total of 374 homes sold is the highest since November 2018 (468 sold that month).
  • The market is getting tighter every month in Pasco. Active listings there have dropped for five straight months, while homes sold have increased each of the last three months.
  • May was a busy month in Richland, with 107 homes sold — a 53% jump over the 70 homes that closed back in April.

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.

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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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