MARKET AT A GLANCE AUGUST 2022
6983 W 22ND AVE | KENNEWICK, WA |
| MLS# 263582 TABLE OF CONTENTS // YEARLY AVERAGES // YEARLY RESIDENTIAL SALES // SALES ACTIVITY // 12 MONTH COMPARISONS // INVENTORY // ABSORPTION RATES || MARKET STATS
YEARLY AVERAGES SALES PRICE COMPARISON 2022 is YTD $474,867 $410,664 $216,270$227,280$247,639$270,189$299,658$324,085$348,375202020222021201920182017201620152014
YEARLY RESIDENTIAL SALES: Yearly Residential Sales 4423 8233 YTD Sales 8233 5893 0244 4841 7224 7234 4974 2274 3272 2014 2015 2016 2017 2018 2019 2020 2021 2022
Homes built prior to 1990 Homes built after 2010 - RESALE ONLY 2022 is YTD 2022 is YTD AVERAGE SALES $354,385 $312,485 $155,412$165,564$181,285$198,426$226,907$248,214$267,296202020222021201920182017201620152014 $471,174$531,236 $263,900$282,500$295,200$313,700$346,100$368,082$402,311202020222021201920182017201620152014
Homes built between 1991 and 2009 Homes built after 2010 - NEW CONSTRUCTION 2022 is YTD 2022 is YTD SALES PRICE $411,777$456,600 $227,094$236,707$258,939$279,727$299,294$327,478$348,339 $411,777$462,764 $227,094$236,707$258,939$279,727$299,294$327,478$348,339202020222021201920182017201620152014 $548,497 $279,400$290,000$315,000$332,500$365,355$385,120$453,654$380,600202020222021201920182017201620152014
LAST 12 MONTHS Outlying 415Areas9% West Richland 3868% Richl 1272and27% Kennewick 35%1631 Pasco100821%
NEW VS. RESALES Last 6 months (February 2022 - August 2022) R e s a l 2055e80% Kennewick143Pasco130Richland209 W. Richland39 N e w C o n s t r u c t i o n 20%521 143 1 3 0 2 0 9 3 9 789 480 603 183 Ke nnewick Pasco Richland WestRe-SaleNewRichlandConstruction
2020 526 498 480 474 458 468 477 439 442 408 359 351
2022 270 276 298 313 387 502 593 580
12 COMPARISONS:MONTH INVENTORY
2018 430 426 459 479 526 559 600 643 647 626 599 564
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2021 282 230 168 161 155 197 250 328 365 384 399 338
2017 389 348 375 419 451 548 626 648 674 614 537 468
2019 494 437 426 439 490 497 563 662 694 695 633 564
6004003002001000500700800
TOTALCONTRACTSSALES
6004003002001000500
2017 211 205 336 337 372 412 363 419 377 360 349 369
2019 246 246 276 313 325 441 415 428 379 415 345 359
2021 303 310 382 390 409 452 436 418 430 408 361 403
2020 340 427 391 324 445 464 466 503 458 452 338 259
6004003002001000500
2019 328 249 397 402 450 425 424 417 407 380 308 247
2017 255 308 395 350 429 377 405 376 316 357 342 260
2022 259 275 372 351 381 369 332 356
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2021 387 374 464 362 427 364 391 418 385 408 359 266
2018 271 262 348 358 355 386 409 411 319 406 333 258
UNDER
2020 295 308 382 328 314 430 506 423 472 496 427 409
2018 322 316 395 356 426 384 402 369 347 340 260 234
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2022 298 342 375 373 374 309 339 324
PRICE BREAKDOWN INVENTORY: Total Active = 580 $0 -$99,99920% $100,0003%18-$199,999 $200,0005%27-$299,999 $300,00014%81-$399,999 $400,00018%102-$499,999 18%106 18%106 10%56 6%34 3%20285% $1,000,000+ $600,000-$699,999 $500,000 $599,999 $900,000 - $999,999$800,000-$899,999$700,000-$799,999
CURRENT LISTING INVENTORY 64 55 901 42 921 78 013 72 Ke nnewick Pasco Richland WestRe-SaleNewRichlandConstruction
TotalSOLDSClosings = 356 $0 $100,000-$99,99982%-$199,99952% $200,0007%25-$299,999$300,00032%115-$399,999 26%94 12%43 9%32 4%14113% 2%51%4 0%0$1,000,000+ $600,000-$699,999$500,000-$599,999 $900,000 $999,999 $800,000 $899,999 $700,000 - $799,999$400,000 - $499,999
UNDER CONTRACTS Total Under Contract = 324 $0 $100,000-$99,99941%-$199,99983% $200,00013%41-$299,999 $300,00028%89-$399,999 $400,00022%72-$499,999 15%50 8%26 4%12 3%1131% 2%8$1,000,000+ $600,000-$699,999$500,000$599,999 $900,000 -$999,999 $800,000 $899,999 $700,000 - $799,999
1111 MARKET STATS: 12 329 N Kellogg St, Kennewick, WA 99336 (509) 783 8811 rcsothebysrealty.com Source: U.S. Census and Washington O ice of Financial Management Forecasting Division, July 2019 Population: 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 2000 Census 2010 Census 2019 Estimate Household: Kennewick, WA............................................... .......................... $62,203 Pasco, WA...................................................... ..................... .......... $66,735 Richland, WA................................................................................ $78,798 Kennewick, WA............................ ............................ .................. $58,277 Pasco, WA........................................................................... .......... $58,669 Richland, WA............................................................................... $69,063 Average Selling Price(January 2020)............................ $313,200 Active Listings(SFR, January 2020)........ ................................. 464 Average Apartment Rent(2 bed, 2 bath)............................. $964 Median Household Income.............. Average Household Housing...................................................Spending........ 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 Housing Utilities TransportationComposite Index