Page 1

The Tri-City Report JANUARY 2014

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 2/11/14 12:32 PM

Information pulled on 02/06/14

1


Yearly Residential Sales Kennewick, Pasco, Richland and West Richland

4000 3580 3500

3454

3517 3244

3148 2876

3000

3186

3175 2751

2779

2500

2000 1500 1000 500 0 2004

2005

2006

156 2007

2008

2009

2010

2011

2012

2013

2014

JANUARY 2014 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 2/11/14 12:32 PM

Information pulled on 02/06/14

2


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

$250

$193

$200

$176

$192

$182

$190

$198

$203

$206

$211

$215

$165 $150

$100

$50

$0 2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

JANUARY 2014 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 2/11/14 12:32 PM

Information pulled on 02/06/14

3


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

$180 $160 $141

$140

$147

$147

$158

$154

$136

$156

$162

$166 $152

$140

$120 $100 $80 $60 $40 $20 $0 2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

JANUARY 2014 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 2/11/14 12:32 PM

Information pulled on 02/06/14

4


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

$300 $263 $250

$234 $216

$200

$220

$268

$267 $233

$230

$240

$246

$199

$150

$100

$50

$0 2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

JANUARY 2014 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 2/11/14 12:32 PM

Information pulled on 02/06/14

5


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

West Richland, 329, 10%

Outlying Areas*, 277, 8%

Kennewick, 1241, 36%

Pasco, 790, 23%

3436 TOTAL

F E B2 R 00 U 3A -R2Y0 1220 1Y3E AT RH REONUD G H SE JA PN T EU M AB R EY R 2 20 01 14 2

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 2/11/14 12:32 PM

Information pulled on 02/06/14

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

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

3186

266

8.85

2014 YTD

156

156

5.20

YEAR

JANUARY 2014 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 2/11/14 12:32 PM

Information pulled on 02/06/14

7


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

$200,000-$249,999, 145, 14%

$100,000-$149,999, 162, 16%

$0-$99,999, 67, 7%

$600,000+, 26, 3% $500,000-$599,999, 26, 3% $450,000-$499,999, 33, 3%

PRICE RANGE

#

$0-$99,999

67

$100,000-$149,999

162

$150,000-$199,999

232

$200,000-$249,999

145

$250,000-$299,999

134

$300,000-$349,999

99

$350,000-$399,999

53

$400,000-$449,999

28

$450,000-$499,999

33

$500,000-$599,999

26

$600,000+

$400,000-$449,999, 28, 3%

$350,000-$399,999, 53, 5%

$300,000-$349,999, 99, 10%

TOTAL

26 1005

JANUARY 2014

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 2/11/14 12:32 PM

Information pulled on 02/06/14

8


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

$150,000-$199,999, 42, 27%

$100,000-$149,999, 33, 21%

$200,000-$249,999, 22, 14%

$0-$99,999, 12, 8%

$250,000-$299,999, 22, 14%

$600,000+, 2, 1% $500,000-$599,999, 2, 1% $450,000-$499,999, 2, 2%

PRICE RANGE

#

$0-$99,999

12

$100,000-$149,999

33

$150,000-$199,999

42

$200,000-$249,999

22

$250,000-$299,999

22

$300,000-$349,999

8

$350,000-$399,999

8

$400,000-$449,999

3

$450,000-$499,999

2

$500,000-$599,999

2

$600,000+

2

TOTAL

$400,000-$449,999, 3, 2%

$350,000-$399,999, 8, 5%

156

$300,000-$349,999, 8, 5% JANUARY 2014

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 2/11/14 12:32 PM

Information pulled on 02/06/14

9


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

$150,000-$199,999, 55, 22% $100,000-$149,999, 50, 20%

$0-$99,999, 16, 7%

$200,000-$249,999, 36, 15%

$250,000-$299,999, 38, 15%

$600,000+, 2, 1% $500,000-$599,999, 2, 1% $450,000-$499,999, 3, 1% $400,000-$449,999, 4, 2%

PRICE RANGE

#

$0-$99,999

16

$100,000-$149,999

50

$150,000-$199,999

55

$200,000-$249,999

36

$250,000-$299,999

38

$300,000-$349,999

27

$350,000-$399,999

12

$400,000-$449,999

4

$450,000-$499,999

3

$500,000-$599,999

2

$600,000+

2

TOTAL

$350,000-$399,999, 12, 5%

245

$300,000-$349,999, 27, 11% JANUARY 2014

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 2/11/14 12:32 PM

Information pulled on 02/06/14

10


Absorption Rate Kennewick, Pasco, Richland and West Richland

$

# Listings

#Pendings

Absorption Ratio

Month of Supply

$0-99,999

67

16

4.19

4

$100,000-$149,999

162

50

3.24

3

$150,000-$199,999

232

55

4.22

4

$200,000-$249,999

145

36

4.03

4

$250,000-$299,999

134

38

3.53

4

$300,000-$349,999

99

27

3.67

4

$350,000-$399,999

53

12

4.42

4

$400,000-$449,999

28

4

7

7

$450,000-$499,999

33

3

11

11

$500,000-$549,999

14

2

7

7

$550,000-$599,999

12

0

0

-

$600,000-$699,999

12

1

12

12

$700,000-$799,999

8

1

8

8

$800,000-$899,999

3

0

0

-

$900,000-$999,999

0

0

0

-

$1,000,000 +

3

0

0

-

Totals

1005

245

4.10

4

JANUARY 2014

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 ON 2/11/14 12:32 PM

Information pulled on 02/06/14

11


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

Kennewick, 20, 13% Resale, 121, 77%

New Construction, 35, 23% Pasco, 6, 4% Richland, 8, 5% West Richland, 1, 1%

JANUARY 1, 2014 TO JANUARY 31, 2014

Total Sales = 156 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 2/11/14 12:32 PM

Information pulled on 02/06/14

12


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

60 52 50

40 35 30

27 20

20

10

8

7

6

1 0 West Richland

Richland

Kennewick Resale

Pasco

New Construction

JANUARY 2014

TOTAL 156

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 2/11/14 12:32 PM

Information pulled on 02/06/14

13


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

350

319 300

250 211 200

183

150

100

87

71

67 50

34

18 0 West Richland

Richland Resale

Kennewick

Pasco

New Construction

Total 991 780 Resale 211 New Construction

JANUARY 2014 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 2/11/14 12:32 PM

Information pulled on 02/06/14

14


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

Tri-Level, 0, 0%

2 Story w/ Basement 2 Story 1.5 or 1 1/2 Story Rambler w/ Basement

2 Story w/ Basement, 3, 8%

Rambler, 22, 59%

Rambler Tri-Level

2 Story, 11, 30%

1.5 or 1 1/2 Story, 1, 3%

Rambler w/ Basement, 0, 0% Total 35

JANUARY 2014 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 2/11/14 12:32 PM

Information pulled on 02/06/14

15


Single Family Building Permits

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Benton City

0

8

6

0

5

0

4

4

4

8

15

15

16

5

0

Prosser

6

9

17

23

17

11

11

9

6

4

13

3

8

5

0

Benton County

100

93

181

198

209

184

138

141

98

98

130

105

101

116

11

Franklin County

50

69

63

73

72

55

46

57

64

62

87

61

51

33

0

Kennewick

266

316

348

308

393

405

314

319

218

248

300

282

260

277

15

Pasco

217

379

731

863

1020

995

679

514

396

463

530

483

313

203

16

Richland

219

383

416

296

289

335

287

292

229

217

341

266

257

250

19

West Richland

92

91

142

154

183

164

117

144

153

138

132

117

138

135

13

Manufactured Homes

349

278

323

308

203

172

160

117

86

98

103

175

94

82

6

Totals

1299

1626

2223

2223

2391

2321

1756

1594

1254

1336

1651

1407

1238

1106

80

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

JANUARY 2014

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 2/11/14 12:32 PM

Information pulled on 02/06/14

16

The Tri-City Report Jan. 2014  

The Tri-City Report Jan. 2014