MARKET AT A GLANCE AUGUST 2018
5011 W. 18TH AVE, KENNEWICK, WA
TABLE OF CONTENTS
01 03 05 07 09
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YEARLY AVERAGES SALES ACTIVITY 12 MONTH COMPARISONS INVENTORY MARKET STATS
YEARLY AVERAGES 2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
01
$190,300
$197,800
$202,500
$205,900
$209,900
$216,100
$227,100
$247,700
$270,200
$300,235
TRI CITIES YEARLY AVERAGE SALES COMPARISON Homes built prior to 1990 2010 2011 2012 2013 2014 2015 2016
$142,900 $145,700 $150,300 $148,500 $154,900 $164,300 $180,300
2017
$198,000
2018
$224,625
TRI CITIES YEARLY AVERAGE SALES COMPARISON Homes built after 1990 2010 2011 2012 2013 2014 2015 2016 2017 2018
$223,200 $227,900 $232,600 $236,600 $247,800 $257,700 $282,400 $303,500 $334,050
02
SALES ACTIVITY 12 MONTHS SALES ACTIVITY
Pasco 35%
Kennewick 26%
Outlying Areas 7% West Richland 7% Richland 25%
03
NEW VS. RESALES Last 6 months (Mar - Aug 2018)
Richland, 6%
New Construction 448 21%
Resale 1849 81%
Kennewick, 6%
Pasco, 7% West Richland, 1%
Total Sales = 2297
Re-sales New Construction
7 6 1 5 1 4
4 4 1 1 5 0
1 3 4
Kennewick
Pasco
1 1 4
Richland
1 3 3
33
West Richland
04
12 MONTH COMPARISONS 12 MONTH INVENTORY COMPARISON
1400 1200 1000 800 600 400 200 0 2013 2014 2015 2016 2017 2018
05
Jan
Feb
Mar
Apr
May
Jun
1150 1136 1196 1283 1262 1296 1029 1019 1020 1057 1086 1121 837 831 807 794 800 760 538 482 427 499 548 587 389 348 375 419 451 548 430 426 459 479 526 559
Jul 1313 1200 769 618 626 600
Aug
Sep
Oct
Nov
Dec
1296 1287 1209 1104 1016 1187 1101 1044 944 839 752 786 758 645 641 648 635 567 503 465 648 674 614 537 468 643
12 MONTH SOLD COMPARISON 450 350 250 150 50 2013 2014 2015 2016 2017 2018
500
Jan 188 159 195 214 211 271
Feb 168 173 228 238 205 262
Mar 252 249 304 335 336 348
Apr 277 287 342 337 334 358
May 285 287 370 377 372 355
Jun 284 305 398 366 412 386
Jul 331 325 436 366 363 409
Aug 298 319 367 380 419 411
Sep 293 301 342 394 377
Oct 266 325 343 378 360
Nov 227 252 235 350 349
Dec 258 266 351 330 369
Nov 188 223 323 281 343
Dec 154 209 205 231 325
12 MONTH UNDER CONTRACT COMPARISON
400 300 200 100 0 2013 2014 2015 2016 2017 2018
Jan 227 282 249 269 256 317
Feb 250 232 271 349 299 318
Mar 290 331 443 437 390 396
Apr 304 276 413 397 357 360
May 313 320 397 391 431 417
Jun 293 306 372 367 387 378
Jul 316 289 362 373 414 392
Aug 243 312 347 366 386 368
Sep 227 287 331 332 329
Oct 244 297 310 371 364
06
INVENTORY $350,000+ Breakdown:
60, 9% 66, 10%
61, 10%
318, 49%
42, 7% 36, 6%
21, 3% 13, 2%
16, 3%
5, 1% 3, 0%
$350,000-$374,999
51
$375,000-$399,999
47
$400,000-$424,999
24
$425,000-$449,999
39
$450,000-$474,999
22
$475,000-$499,999
22
$500,000-$524,999
9
$525,000-$549,999
21
$550,000-$574,999
9
$575,000-$599,999
18
$600,000-$624,999
4
$625,000-$649,999
6
$650,000-$674,999
10
$675,000-$699,999
2
$700,000+
34
2, 0%
$0-$99,9 99 $150,000-$174,99 9 $225,000-$249,999
Total Active = 643
07
$100,000-$124,999 $175, 000-$199,999 $250, 000-$274,999
$125,000-$149,99 9 $200,000-$224, 999 $275,000-$299, 999
9 7
1 0 5
8 1
3 1
3
3
3 8
3 4
6 8
4 6
2
5
2 0
Price Range (thousands)
3
4 1
3 6
3 6
1 0
1 0
1 1
2 5
5 0
2
5
2 0
0 0
4 0
700+
675-699
1 0
700+
9
4
1 7
10
675-699
August UNDER CONTRACT 6
650-674
6
2 5
650-674
10 10
17
625-649
4
625-649
1 4
4 4
600-624
7
600-624
4 4
575-599
2 3
575-599
2
550-574
4
525-549
5 5
500-524
3
475-499
2
550-574
3
500-524
2
475-499
3 3
450-474
5 8
425-449
2
450-474
1 6 8
400-424
4 3
375-399
350-374
325-349
300-324
2
525-549
1 5 6 5 5 7 2
1
425-449
1 2 0
2
400-424
0 1
375-399
1
275-299
5 0 7 5
350-374
1 1
325-349
1
250-274 9 3
300-324
3 0 0 1 4 2
275-299
3 5 6
250-274
1 1 7 6
225-249
1
225-249
1 4 6
200-224
2 0 0
200-224
175-199
1 2 0
175-199
1 0 0
150-174
1 0 0
150-174
3
125-149
1
125-149
7 7
100-124
0-99 2
100-124
0-99
MONTHS OF REMAINING INVENTORY August SOLD Months of Inventory
Absorption Rate
1 1 1
1 1
2 7 1 5
Price Range (thousands)
Months of Inventory
Absorption Rate
0
1
1
1
3
7
1 5
08
MARKET STATS Population: 2000 Census 2010 Census 2018 Estimate Tri-Cities, MSA........................................................................................ 191,822 ............. 253,340 ................... 283,830 Benton County................................................................................ 142,475 ................ 175,177 .................... 193,500 Kennewick....................................................................................... 54,751 ................. 73,917 ..................... 80,280 Richland........................................................................................... 38,708 ............... 48,058 ....................... 54,150 West Richland................................................................................. 8,385 .................... 11,811 ....................... 14,660 Franklin County................................................................................ 49,347 ................. 78,163 ..................... 90,330 Pasco................................................................................................. 32,066 ................. 59,781 ...................... 71,680 Source: U.S. Census and Washington Office of Financial Management Forecasting Division, July 2017
Composite Index Housing Utilities Transportation Cost of Living: Tri-Cities, WA........................................................................ 97.0 ................. 100.1 ............... 98.9 ............................ 107.7 Yakima, WA.......................................................................... 93.9 .................. 79.3 ................ 81.9 ............................ 115.3 Spokane, WA...................................................................... 96.0 ................. 92.3 ................. 76.1 ........................... 112.3 Seattle, WA......................................................................... 149.0 ............... 194.2 .............. 123.8 ............................ 133.1 Portland, OR...................................................................... 129.3 ................. 179.0 ............... 78.4 ........................... 106.3 Boise, ID................................................................................ 92.5 .................... 87.9 ................ 86.2 ........................... 107.5
Household: Median Household Income.............. Kennewick, WA.......................................................................... $58,173 Pasco, WA...................................................................................... $61,515 Richland, WA............................................................................... $76,895 Average Household Spending........ Kennewick, WA.......................................................................... $55,154 Pasco, WA..................................................................................... $53,922 Richland, WA................................................................................ $67,352 Housing................................................... Average Selling Price(October 2016)............................ $282,700 Active Listings(SFR, October 2016)......................................... 458 Average Apartment Rent(2bed, 2 bath)............................. $866
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329 N Kellogg St, Kennewick, WA 99336
(509) 783 8811
rcsothebysrealty.com
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