Tri-Cities Real Estate Market Update: May 2019

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

• Active listings across the area we watch were up for the first time in four months. It’s not a very big gain — just 4% — but after so many straight months of declines, it’s a nice sign.
• We still have inventory problems. Active listings in Kennewick have dropped for at least six straight months; in Pasco, for four straight months.
• What an interesting month April was in Kennewick! Homes sold jumped by 38%. Our entire area had an increase of 41 homes sold in April — Kennewick accounted for 35 of those. Kennewick also saw a big jump in median sales price last month.
• Across the area, homes sold have risen for three straight months. That’s pretty common for this time of year.
• But … the number of homes sold in Richland has dropped five of the past six months.

Overall, there’s a lot of green numbers on this month’s graphic — that’s to be expected now that spring and warm weather has arrived!

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.