M A R K E T AT A G L A N C E APRIL 2021
6 7 4 I S O L A V I S TA C O U R T | R I C H L A N D , W A |
| MLS# 253281
TA B L E O F C O N T E N T S // YEARLY AVERAGES // YEARLY RESIDENTIAL SALES // SALES ACTIVITY // 12 MONTH COMPARISONS // INVENTORY // ABSORPTION RATES || MARKET STATS
Y E A R LY A V E R A G E S SALES PRICE COMPARISON
2013 2014 2015 2016 2017 2018 2019 2020 2021
$211,354 $216,270 $227,280 $247,639 $270,189 $299,658 $324,085 $348,375 $368,509
2021 is YTD
4 1 8 4
4 2 2 7
4 3 2 7
4 7 9 4
Yearly Residential Sales
YTD Sales
2021
2020
2019
2018
1 3 8 9 2017
2014
4 2 0 4
2016
3 3 2 8
3 9 8 5
2015
3 2 4 4
2013
Y E A R LY R E S I D E N T I A L SALES:
Homes built prior to 1990 2013 2014 2015
$149,718 $155,412 $165,564 $181,285
2016 2017
$198,426 $226,907
2018 2019
$248,214 $267,296
2020 2021
$276,410 2021 is YTD
Homes built between 1990 and 2009 2013 2014 2015 2016 2017 2018 2019 2020 2021
$220,202 $227,094 $236,707 $258,939 $279,727 $299,294 $327,478 $348,339 $367,059 2021 is YTD
Homes built after 2010 - RESALE ONLY 2013 2014 2015 2016 2017
$260,900 $263,900 $282,500 $295,200 $313,700 $346,100
2018
$368,082
2019
$402,311
2020
$413,085
2021
2021 is YTD
NEW CONSTRUCTION 2013 2014 2015 2016 2017 2018 2019 2020 2021
$265,500 $279,400 $290,000 $300,235
$315,000 $332,500
$380,600 $365,355 $385,120 $413,928 2021 is YTD
LAST 12 MONTHS
Pasco 1350 26%
Kennewick 1783 34%
Outlying Areas 316 6% West Richland 411 8%
Richland 1336 26%
NEW VS. RESALES Last 6 months (October 2020 - April 2021)
Kennewick 184 26%
Pasco 335 40%
New Construction 831 30%
Resale 1903 70%
Richland 217 29% W. Richland 95 5%
7 5 9
New Construction Re-Sale
5 1 1
4 8 2 3 3 5
2 1 7
1 8 4
Kennewick
Pasco
Richland
151 95
West Richland
12 MONTH C O M PA R I S O N S : INVENTORY 1200 1000 800 600 400 200 0 2016 2017 2018 2019 2020 2021
Jan 538 389 430 494 526 282
Feb 482 348 426 437 498 230
Mar 427 375 459 426 480 168
Apr 499 419 479 439 474 161
May 548 451 526 490 458
Jun 587 548 559 497 468
Jul 618 626 600 563 477
Aug 648 648 643 662 439
Sep 635 674 647 694 442
Oct 567 614 626 695 408
Nov 503 537 599 633 359
Dec 465 468 564 564 351
UNDER CONTRACTS
550 450 350 250 150 50 -50 2016 2017 2018 2019 2020 2021
Jan 283 255 322 328 340 387
Feb 351 308 316 249 427 374
Mar 414 395 395 397 391 464
Apr 389 350 356 402 324 362
May 382 429 426 450 445
Jun 385 377 384 425 464
Jul 386 405 402 424 466
Aug 405 376 369 417 503
Sep 365 316 347 407 458
Oct 374 357 340 380 452
Nov 269 342 260 308 338
Dec 227 260 234 247 259
Sep 394 377 319 379 472
Oct 378 360 406 415 496
Nov 350 349 333 345 427
Dec 330 369 258 359 409
TOTAL SALES
600 500 400 300 200 100 0 2016 2017 2018 2019 2020 2021
Jan 214 211 271 246 295 303
Feb 238 205 262 246 308 310
Mar 335 336 348 276 382 382
Apr 337 337 358 313 328 390
May 377 372 355 325 314
Jun 366 412 386 441 430
Jul 366 363 409 415 506
Aug 380 419 411 428 423
INVENTORY:
PRICE BREAKDOWN
117 73%
$0 - $99,999 6 4% $350,000+
$100,000 - $124,999 0 0% $125,000 - $149,999 0 0%
24,999 00 - $3 9 ,99 299 $ 9 00 ,99 5,0 74 $27 2 -$ 00 0 , 50 $2
0
-$
-$
22 4, 99
9
9 24 9 ,9
$300,0
7 4%
4 5 2% 3%
4 2%
$150,000 - $174,999 0 0%
9
$325,0
,0 0
0
11 7%
0 ,0 25 $2
00 - $3 49,999
$2 00
$175,000 - $199,999
3 2%
4 3%
$350,000+ Breakdown $350k $374k
$375k $399k
$400k $424k
$425k $449k
$450k $474k
$475k $499k
$500k $544k
$524k $549k
3
9
7
5
6
14
12
8
$550k $574k
$575k $599k
$600k $624k
$625k $649k
$650k$674k
$675k $699k
$700k +
5
4
2
31
Total Active = 161
5
3
5
CURRENT LISTING INVENTORY
New Construction
4 3
Re-Sale
3 4
2 2
1 9
2 1
9 9
Kennewick
Pasco
Richland
4
West Richland
A B S O R P T I O N R AT E S : Months of Remaining Inventory APRIL CLOSED SALES
Months Inventory Absorbtion
1
1
1
3 0 0
1
2
650-674
625-649
600-624
575-599
9
9
7 5
1 1
700+
6 0
5 3
675-699
3 2
7 2
550-574
3
525-549
7 9
1
0
2
500-524
450-474
5 0
9 5
475-499
2 8 1
425-449
7 7
1 1 0
400-424
325-349
7 7
1
1 9 8
2 0
1
375-399
1
350-374
1 5 0
300-324
2 9
1
1
1
8 6
8 2
250-274
2 9
7 5
200-224
3
175-199
3
150-174
0-99
2 3
5 0
100-124
4
1 0 0
125-149
2
1
225-249
1
1 9 3
275-299
1
SOLDS
Total Closings = 390
$350,000+ Breakdown 209 54%
$350,000-$374,999
40
$375,000-$399,999
27
$400,000-$424,999
23
$425,000-$449,999
30
$450,000-$474,999
14
$475,000-$499,999
19
$500,000-$524,999
11
$525,000-$549,999
7
$550,000-$574,999
4
$575,000-$599,999
8
$600,000-$624,999
6
$625,000-$649,999
4
$150,000 - $174,999
$650,000-$674,999
3
2 0%
$675,000-$699,999
1
$700,000+
12
Count, Absorption Rate
$3 50
,0 0
0+
$0 - $99,999
6 1%
$ 00 -
9 ,99 349
42 11%
9
$17 $2 5,000 00 $2 ,00 - $19 9,9 25 099 $2 ,0 24 00 , 9 -$ 99 24 9, 99 9
$100,000 - $124,999
3 1%
$125,000 - $149,999
$ 0-
,99 274
$275,000 - $299,999
32 4, 99
,00
1 0%
50 $2
$3 00
,0 0
0
-$
36 9%
9
5,0 $32
30 8%
12 18 3% 4 1% 5%
27 7%
$350,000+ Breakdown
UNDER CONTRACTS Total Under Contract = 362
$3 50
$350,000-$374,999
37
$375,000-$399,999
26
$400,000-$424,999
26
$425,000-$449,999
21
$450,000-$474,999
21
$475,000-$499,999
17
$500,000-$524,999
12
$525,000-$549,999
19
$550,000-$574,999
4
$575,000-$599,999
7
$600,000-$624,999
2
1 0%
$625,000-$649,999
6
$150,000 - $174,999
$650,000-$674,999
3
$675,000-$699,999
2
$700,000+
22
Count, Absorption Rate
225 62%
,00
0+ $0 - $99,999
9 3%
$1 75
9
,99 274
,0 50 $2
0
$ 0-
$299,999 $275,000 -
99 $3 24 ,9 0-
,00
-$
$1 99
22 4, 99
,99
$125,000 - $149,999
9
9
9
27 7%
0
1 0%
9 ,9
25 7%
0-
,0 0
9 24
23 6%
,00
-$
$3 00
-
9
00 ,0 25 $2
0
00 5, 2 $3
4 $3
99 9,
$2 00
$100,000 - $124,999
13 4%
19 5%
9 3%
8 2%
2 1%
M A R K E T S T AT S : Population: 2000 Census 2010 Census 2019 Estimate Tri-Cities, MSA........................................................................................ 191,822 ............. 253,340 ................... 296,480 Benton County................................................................................ 142,475 ................ 175,177 .................... 201,800 Kennewick....................................................................................... 54,751 ................. 73,917 ...................... 83,670 Richland........................................................................................... 38,708 ............... 48,058 ...................... 56,850 West Richland................................................................................. 8,385 .................... 11,811 ....................... 15,340 Franklin County................................................................................ 49,347 ................. 78,163 ..................... 94,680 Pasco................................................................................................. 32,066 ................. 59,781 ..................... 75,290
Source: U.S. Census and Washington Office of Financial Management Forecasting Division, July 2019
Composite Index Housing Utilities Transportation Cost of Living: Tri-Cities, WA....................................................................... 97.8 .................... 99.7 ............... 92.1 ............................ 112.2 Yakima, WA........................................................................... 96.1 ................... 80.7 .............. 83.3 ............................ 114.5 Spokane, WA.................................................................... 100.3 .................. 99.3 ................ 97.5 .......................... 108.5 Seattle, WA........................................................................ 156.7 ................ 225.0 .............. 108.1 ............................ 137.6 Portland, OR..................................................................... 134.0 ................. 184.3 ................ 87.2 ........................... 130.8 Boise, ID............................................................................... 98.4 .................... 96.5 ................ 82.0 .......................... 130.2
Household: Median Household Income.............. Kennewick, WA......................................................................... $62,203 Pasco, WA..................................................................................... $66,735 Richland, WA................................................................................ $78,798 Average Household Spending........ Kennewick, WA.......................................................................... $58,277 Pasco, WA..................................................................................... $58,669 Richland, WA............................................................................... $69,063 Housing................................................... Average Selling Price(January 2020)............................ $313,200 Active Listings(SFR, January 2020)......................................... 464 Average Apartment Rent(2 bed, 2 bath)............................. $964
11
329 N Kellogg St, Kennewick, WA 99336
(509) 783 8811
rcsothebysrealty.com
12