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The Tri-City Report SEPTEMBER 2013

Written and Published by “Tri-Cities Trusted Real Estate Advisors Since 1968. Coldwell Banker Tomlinson Associated Brokers” All stats taken from the Tri-City Association of Realtors and The Tri-Cities Home Builders Association.

The information in this report is compiled from a report given by the Tri-City Association of REALTOR®s and to the best of our knowledge is accurate and current. © Coldwell Banker Tomlinson Associated Brokers. Each office is independently owned and operated.

MODIFIED ON 10/16/13 11:47 AM

Information pulled on 10/7/13

1


Yearly Residential Sales Kennewick, Pasco, Richland and West Richland

4000 3580 3500

3454

3517 3244

3148 3000

3175

2876

2794

2751

2779

2500

2427

2000 1500 1000 500 0 2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

SEPTEMBER 2013 YTD

The information in this report is compiled from a report given by the Tri-City Association of REALTORŽs and to the best of our knowledge is accurate and current. Š Coldwell Banker Tomlinson Associated Brokers. Each office is independently owned and operated.

MODIFIED ON 10/16/13 11:47 AM

Information pulled on 10/7/13

2


Yearly Average Sales Price Comparison Kennewick, Pasco, Richland and West Richland

$250

$193

$200 $176 $163

$182

$192

$190

$198

$203

$206

$210

$165

$150

$100

$50

$0 2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

SEPTEMBER 2013 YTD

Total Shown in $Thousands The information in this report is compiled from a report given by the Tri-City Association of REALTORŽs and to the best of our knowledge is accurate and current. Š Coldwell Banker Tomlinson Associated Brokers. Each office is independently owned and operated.

MODIFIED ON 10/16/13 11:47 AM

Information pulled on 10/7/13

3


Yearly Average Sales Price Comparison All Homes Built Prior to 2000 Kennewick, Pasco, Richland and West Richland

$168

$180 $160 $138

$140

$141

$147

$147

$158

$154 $136

$156

$162

$140

$120 $100 $80 $60 $40 $20 $0 2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

SEPTEMBER 2013 YTD

Total Shown in $Thousands The information in this report is compiled from a report given by the Tri-City Association of REALTORŽs and to the best of our knowledge is accurate and current. Š Coldwell Banker Tomlinson Associated Brokers. Each office is independently owned and operated.

MODIFIED ON 10/16/13 11:47 AM

Information pulled on 10/7/13

4


Yearly Average Sales Price Comparison All Homes Built After 2000 Kennewick, Pasco, Richland and West Richland

$300 $263 $250

$234 $216

$200

$196

$220

$267 $233

$230

$240

$243

$199

$150

$100

$50

$0 2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

SEPTEMBER 2013 YTD

Total Shown in $Thousands The information in this report is compiled from a report given by the Tri-City Association of REALTORŽs and to the best of our knowledge is accurate and current. Š Coldwell Banker Tomlinson Associated Brokers. Each office is independently owned and operated.

MODIFIED ON 10/16/13 11:47 AM

Information pulled on 10/7/13

5


12 Months Sales By Area Kennewick, Pasco, Richland and West Richland

West Richland, 331, 10%

Outlying Areas*, 265, 8%

Kennewick, 1173, 34%

Pasco, 835, 24%

3407 TOTAL

O C2T0O0 B3 E- 2R 0 21 02 1 Y2 E TA HR R EONUDG H SEPTEMBER 2012 3

The information in this report is compiled from a report given by the Tri-City Association of REALTOR®s and to the best of our knowledge is accurate and current. © Coldwell Banker Tomlinson Associated Brokers. Each office is independently owned and operated.

MODIFIED ON 10/16/13 11:47 AM

Information pulled on 10/7/13

6


Average Number Homes Sold Kennewick, Pasco, Richland and West Richland

Total Homes

Total Homes

Total Homes

Sold Per Year

Sold Per Month

Sold Per Day

2003

2794

233

7.65

2004

3148

262

8.62

2005

3580

298

9.81

2006

3454

288

9.46

2007

3517

293

9.64

2008

2876

240

7.88

2009

3244

270

8.89

2010

3175

265

8.70

2011

2751

229

7.54

2012

2779

232

7.73

2013 YTD

2427

270

8.99

YEAR

SEPTEMBER 2013 YTD

The information in this report is compiled from a report given by the Tri-City Association of REALTORŽs and to the best of our knowledge is accurate and current. Š Coldwell Banker Tomlinson Associated Brokers. Each office is independently owned and operated.

MODIFIED ON 10/16/13 11:47 AM

Information pulled on 10/7/13

7


Active Listings by Price Range Kennewick, Pasco, Richland and West Richland

$100,000-$149,999, 224, 18%

$200,000-$249,999, 202, 16%

$0-$99,999, 82, 7%

$600,000+, 30, 2%

$500,000-$599,999, 34, 3%

$450,000-$499,999, 40, 3%

$400,000-$449,999, 27, 2%

$350,000-$399,999, 56, 4%

$300,000-$349,999, 102, 8%

PRICE RANGE

#

$0-$99,999

82

$100,000-$149,999

224

$150,000-$199,999

283

$200,000-$249,999

202

$250,000-$299,999

176

$300,000-$349,999

102

$350,000-$399,999

56

$400,000-$449,999

27

$450,000-$499,999

40

$500,000-$599,999

34

$600,000+ TOTAL

30 1256

SEPTEMBER 2013

The information in this report is compiled from a report given by the Tri-City Association of REALTOR®s and to the best of our knowledge is accurate and current. © Coldwell Banker Tomlinson Associated Brokers. Each office is independently owned and operated.

MODIFIED MODIFIED ONON 10/16/13 10/16/13 11:47 11:47 AMAM

Information Information pulled pulled onon 7/1/2013 10/7/13

8


Sold Listings by Price Range Kennewick, Pasco, Richland and West Richland

$100,000-$149,999, 63, 21%

$150,000-$199,999, 82, 28%

$200,000-$249,999, 51, 17%

$0-$99,999, 14, 5% $600,000+, 2, 1%

$250,000-$299,999, 40, 14%

$500,000-$599,999, 7, 2% $450,000-$499,999, 1, 0% $400,000-$449,999, 6, 2%

PRICE RANGE

#

$0-$99,999

14

$100,000-$149,999

63

$150,000-$199,999

82

$200,000-$249,999

51

$250,000-$299,999

40

$300,000-$349,999

19

$350,000-$399,999

11

$400,000-$449,999

6

$450,000-$499,999

1

$500,000-$599,999

7

$600,000+

2

TOTAL

$350,000-$399,999, 11, 4%

296

$300,000-$349,999, 19, 6% SEPTEMBER 2013

The information in this report is compiled from a report given by the Tri-City Association of REALTOR®s and to the best of our knowledge is accurate and current. © Coldwell Banker Tomlinson Associated Brokers. Each office is independently owned and operated.

MODIFIED ON 10/16/13 11:47 AM

Information pulled on 10/7/13

9


Pending Listings by Price Range Kennewick, Pasco, Richland and West Richland

$150,000-$199,999, 80, 27% $200,000-$249,999, 45, 15%

$100,000-$149,999, 35, 12%

$250,000-$299,999, 47, 16%

$0-$99,999, 16, 6% $600,000+, 2, 1%

$300,000-$349,999, 40, 14%

$500,000-$599,999, 7, 2% $450,000-$499,999, 5, 2% $400,000-$449,999, 6, 2%

PRICE RANGE

#

$0-$99,999

16

$100,000-$149,999

35

$150,000-$199,999

80

$200,000-$249,999

45

$250,000-$299,999

47

$300,000-$349,999

40

$350,000-$399,999

8

$400,000-$449,999

6

$450,000-$499,999

5

$500,000-$599,999

7

$600,000+

2

TOTAL

291

$350,000-$399,999, 8, 3% SEPTEMBER 2013

The information in this report is compiled from a report given by the Tri-City Association of REALTOR®s and to the best of our knowledge is accurate and current. © Coldwell Banker Tomlinson Associated Brokers. Each office is independently owned and operated.

MODIFIED MODIFIEDON ON10/16/13 10/16/13 11:47 11:47AMAM

Information Information pulled pulledonon 10/7/2013 10/7/13

10


Absorption Rate Kennewick, Pasco, Richland and West Richland

$

# Listings

#Pendings

Absorption Ratio

Month of Supply

$0-99,999

82

16

5.13

5

$100,000-$149,999

224

35

6.40

6

$150,000-$199,999

283

80

3.54

4

$200,000-$249,999

202

45

4.49

4

$250,000-$299,999

176

47

3.74

4

$300,000-$349,999

102

40

2.55

3

$350,000-$399,999

56

8

7

7

$400,000-$449,999

27

6

4.5

5

$450,000-$499,999

40

5

8

8

$500,000-$549,999

17

4

4.25

4

$550,000-$599,999

17

3

5.67

6

$600,000-$699,999

14

0

0

-

$700,000-$799,999

10

2

5

5

$800,000-$899,999

3

0

0

-

$900,000-$999,999

2

0

0

-

$1,000,000 +

1

0

0

-

Totals

1256

291

4.32

4

SEPTEMBER 2013

Does not include Active Taking Back-up Offers or Active with Bump.

The information in this report is compiled from a report given by the Tri-City Association of REALTOR®s and to the best of our knowledge is accurate and current. © Coldwell Banker Tomlinson Associated Brokers. Each office is independently owned and operated.

MODIFIED MODIFIED ON ON 10/16/13 10/16/13 11:47 11:47 AM AM

Information Information pulled pulled on on 10/7/13 10/7/2013

11


Tri-Cities Sales Activity: New vs. Re-Sale Kennewick, Pasco, Richland and West Richland

Kennewick, 213, 9%

Resale, 1832, 76%

Pasco, 154, 6%

New Construction, 595, 24%

Richland, 130, 5% West Richland, 98, 4%

JANUARY 1, 2013 TO SEPTEMBER 30, 2013

Total Sales = 2427 New Home Sales Distribution The information in this report is compiled from a report given by the Tri-City Association of REALTOR®s and to the best of our knowledge is accurate and current. © Coldwell Banker Tomlinson Associated Brokers. Each office is independently owned and operated.

MODIFIED ON 10/16/13 11:47 AM

Information pulled on 10/7/13

12


Sales Activity New vs. Re-sales Kennewick, Pasco, Richland and West Richland

87

90 80

69

70 60 52 50 40 28

30 20

14

15

15

16

10 0 West Richland

Richland

Kennewick Resale

Pasco

New Construction

SEPTEMBER 2013

TOTAL 296

The information in this report is compiled from a report given by the Tri-City Association of REALTOR®s and to the best of our knowledge is accurate and current. © Coldwell Banker Tomlinson Associated Brokers. Each office is independently owned and operated.

MODIFIED ON 10/16/13 11:47 AM

Information pulled on 10/7/13

13


Current Listing Inventory: New vs. Re-Sales Kennewick, Pasco, Richland and West Richland

450

418

400 350 284

300

240

250 200 150 100

104

80

50

69 45

20

0 West Richland

Richland Resale

Kennewick

Pasco

New Construction

Total 1256 1022 Resale 234 New Construction

SEPTEMBER 2013 YTD

The information in this report is compiled from a report given by the Tri-City Association of REALTOR®s and to the best of our knowledge is accurate and current. © Coldwell Banker Tomlinson Associated Brokers. Each office is independently owned and operated.

MODIFIEDON ON10/16/13 10/16/1311:47 11:47AM AM MODIFIED

Informationpulled pulledonon10/7/2013 10/7/13 Information

14


Top Homes Style Sold for New Construction Kennewick, Pasco, Richland and West Richland

Tri-Level, 1, 0% 2 Story w/ Basement, 2, 0%

2 Story w/ Basement 2 Story 1.5 or 1 1/2 Story Rambler w/ Basement Rambler Tri-Level

2 Story, 154, 26%

Rambler, 396, 67%

1.5 or 1 1/2 Story, 17, 3% Rambler w/ Basement, 25, 4%

Total 595

SEPTEMBER 2013 YTD

The information in this report is compiled from a report given by the Tri-City Association of REALTOR®s and to the best of our knowledge is accurate and current. © Coldwell Banker Tomlinson Associated Brokers. Each office is independently owned and operated.

MODIFIED ON 10/16/13 11:47 AM

Information pulled on 10/7/13

15


Single Family Building Permits

1991

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

YTD

Benton City

14

0

8

6

0

5

0

4

4

4

8

15

15

16

3

Prosser

13

6

9

17

23

17

11

11

9

6

4

13

3

8

1

Benton County

123

100

93

181

198

209

184

138

141

98

98

130

105

101

94

Franklin County

52

50

69

63

73

72

55

46

57

64

62

87

61

51

26

Kennewick

274

266

316

348

308

393

405

314

319

218

248

300

282

260

239

Pasco

192

217

379

731

863

1020

995

679

514

396

463

530

483

313

176

Richland

186

219

383

416

296

289

335

287

292

229

217

341

266

257

205

West Richland

102

92

91

142

154

183

164

117

144

153

138

132

117

138

116

Manufactured Homes

409

349

278

323

308

203

172

160

117

86

98

103

175

94

70

Totals

1365

1299

1626

2223

2223

2391

2321

1756

1594

1254

1336

1651

1407

1238

930

Data courtesy of Home Builders Association of Tri-Cities, WA Inc. & Benton Franklin Title Company.

SEPTEMBER 2013

The information in this report is compiled from a report given by the Tri-City Association of REALTORŽs and to the best of our knowledge is accurate and current. Š Coldwell Banker Tomlinson Associated Brokers. Each office is independently owned and operated.

MODIFIED MODIFIED ON ON 10/16/13 10/16/13 11:47 11:47 AM AM

Information Information pulled pulled on 9/8/2013 on 10/7/13

16


Coldwell Banker September 2013 Market Report