MARKET AT A GLANCE DECEMBER 2018
1747 W 52 ND 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 TRI CITIES YEARLY AVERAGE SALES PRICE COMPARISON 2009
2010
2011
2012
2013
2014
2015
2016
$190,300
$197,800
$202,500
$205,900
$209,900
$216,100
$227,100
$247,700
$300,235 2017
2018
$270,200
$299,652
2018 is YTD
01
TRI CITIES YEARLY AVERAGE SALES COMPARISON Homes built after 1990 2010
$223,200
2011
$227,900
2012
$232,600
2013
$236,600
2014
$247,800
2015
$257,700
2016
$282,400
2017
$303,500
2018
$334,198
TRI CITIES YEARLY AVERAGE SALES COMPARISON Homes built prior to 1990 2010 2011 2012 2013 2014 2015 2016 2017 2018
$142,900 $145,700 $150,300 $148,500 $154,900 $164,300 $180,300 $198,000 $224,889
02
SALES ACTIVITY
Pasco 26%
Kennewick 35%
Outlying Areas 7% West Richland 7%
Richland 25%
03
NEW VS. RESALES Last 6 months (July - December 2018)
Richland, 26%
Pasco, 41%
New Construction 471 22%
Resale 1735 78%
Kennewick, 27% West Richland,<1%
Total Sales: 2206
Re-sales New Construction
6 9 9 4 6 9
4 4 5 1 9 5
1 3 1
Ken new ick
Pasco
1 2 7
Richland
1 2 2
18
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 1150 1029 837 538 389 430
Feb 1136 1019 831 482 348 426
Mar 1196 1020 807 427 375 459
Apr 1283 1057 794 499 419 479
May 1262 1086 800 548 451 526
Jun 1296 1121 760 587 548 559
Jul 1313 1200 769 618 626 600
Aug 1296 1187 752 648 648 643
Sep 1287 1101 786 635 674 647
Oct 1209 1044 758 567 614 626
Nov 1104 944 645 503 537 599
Dec 1016 839 641 465 468 564
12 MONTH SOLD COMPARISON 450
350
250
150
50
Jan
Fe b
Ma r
Apr
Ma y
Jun
Jul
Aug
Sep
Oc t
Nov
De c
2013
188
168
252
277
285
284
331
298
293
266
227
258
2014
159
173
249
287
287
305
325
319
301
325
252
266
2015
195
228
304
342
370
398
436
367
342
343
235
351
2016
214
238
335
337
377
366
366
380
394
378
350
330
2017
211
205
336
334
372
412
363
419
377
360
349
369
2018
271
262
348
358
355
386
409
411
319
406
333
258
12 MONTH UNDER CONTRACT COMPARISON
500 400 300 200 100 0
Jan
Feb
Mar
Apr
May
Ju n
Ju l
Aug
Sep
Oct
Nov
Dec
2013
227
250
290
304
313
293
316
243
227
244
188
154
2014
282
232
331
276
320
306
289
312
287
297
223
209
2015
249
271
443
413
397
372
362
347
331
310
323
205
2016
269
349
437
397
391
367
373
366
332
371
281
231
2017
256
299
390
357
431
387
414
386
329
364
343
325
2018
317
318
396
360
417
378
392
368
344
338
253
234
06
INVENTORY 49, 9%
$350,000+ Breakdown:
60, 11%
60, 11% 274, 48% 36, 6%
22, 4% 22, 4%
11, 2% 6, 1%
17, 3%
6, 1% 1, 0%
$0 -$99,999 $150,0 00-$174, 999 $225,000 -$249,999 $300 ,00 0-$324,999
Total Active = 564
07
$100, 000 -$124, 999 $175,0 00-$ 199,999 $250,0 00-$ 274,999 $325,000 -$349,999
$350,000-$374,999
44
$375,000-$399,999
46
$400,000-$424,999
25
$425,000-$449,999
40
$450,000-$474,999
20
$475,000-$499,999
25
$500,000-$524,999
12
$525,000-$549,999
14
$550,000-$574,999
3
$575,000-$599,999
17
$600,000-$624,999
6
$625,000-$649,999
9
$650,000-$674,999
7
$675,000-$699,999
4
$700,000+
34
$125, 000 -$149, 999 $200 ,00 0-$224,999 $275, 000-$ 299, 999 $350,0 00+
CURRENT LISTING INVENTORY Re-sa les Ne w Construction
1 4 2
7 9
7 4
9 2
7 2
6 7 1 8
2 0
Kenne wic k
Pasco
Ric hland
West Richland
December Month’s of Remaining Inventory Months of Inventory Absorption Rate
0 0
2 0
3
4 1
3 6
3 6
Price Range (thousands)
2 10 10 1 0
1 0
9 1 1
4 2 5
5 0
3 5 2 0
4 0
7 1 5
700+
4 6
5
3
675-699
3 4
6 8
2
650-674
3 8
2
625-649
300-324
275-299
250-274
225-249
200-224
175-199
150-174
125-149
100-124
0-99
3 1
3
600-624
3
8 1
575-599
1 0 5
550-574
9 7
525-549
1 0 0
1
500-524
3
1 2 0
1
475-499
7 7
1 5 6
450-474
1
1
425-449
1
400-424
1
375-399
1
1
350-374
3 0 0
325-349
3 5 6
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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