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Tri-Cities Real Estate Market Update: September 2019

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As summer comes to a close, we’re seeing a continuation of some market movement that began last month — more homes on the market, homes are selling a little bit more slowly than earlier in the year, and the number of homes sold didn’t go up so much that it signals an inventory crunch. Those are positive signs for buyers, but we also have a positive sign for sellers this month — median home prices are up almost across the entire Tri-Cities.

Here’s a look at what matters from our latest monthly market update:

  • Inventory hit 721 homes when we checked last week, marking the first month above 700 available homes since January. It’s also five consecutive months of rising inventory. And look at all that green on the top line! Inventory was up in every city we track.
  • Across the area, the median home price rose to $305,900 — that makes three out of four months above the $300K threshold.
  • Days on market* rose from seven to 10 days across the area. And DOM was up in every city we watch except Benton City (but only eight homes sold there last month so it doesn’t carry a lot of weight overall).
  • There was a sharp rise in inventory in Kennewick, with almost 300 homes on the market — that’s about 100 more than just three months ago.
  • The number of homes sold rose in all cities except Richland and Benton City.
  • West Richland inventory reached 62 homes, which is the highest it’s been since we started doing monthly market updates late last year.

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. 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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