Two things stand out right away when you look at this month’s Tri-Cities real estate market update below:
1) Active listings are up almost across the board.
2) The number of sold listings last month was down almost across the board.
What does that suggest to you? If you said it’s another sign that the market is shifting, you’re correct! There’s more inventory available to buyers, yet fewer deals are closing. As we discussed in this recent blog post, if supply goes up and demand goes down, we may soon be back to a more normal real estate market. This might just be a one-month thing, so let’s keep an eye on these changes in the next few months and see if they become a real trend.
As always, if you have questions about the local real estate market and what it means to you as a buyer or seller, get in touch anytime. There’s a contact form below.
Data come from the Tri-City Association of Realtors and Pacific Region MLS. We collect data on the 5th of each month to allow all local brokerages to make sure their data from the previous month has been submitted.