M A R K E T AT A G L A N C E DECEMBER 2020
370 0 W 4 9 T H | K E N N E W I C K , WA |
| MLS# 250632
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
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
$202,542 $205,885 $211,354 $216,270 $227,280 $247,639 $270,189 $299,658 $324,085 $348,375
2017
4 7 9 4
2020
2016
Yearly Residential Sales
4 3 3 0
2019
4 1 7 3
4 2 2 1
2018
3 9 8 1
4 1 9 7
2015
3 3 1 3
2014
2012
2 7 9 7
3 2 7 7
2013
Y E A R LY R E S I D E N T I A L SALES:
Homes built prior to 1990 2012
$150,343
2013
$149,718
2014 2015 2016
$155,412 $165,564 $181,285 $198,426
2017 2018
$226,907 $248,214
2019 2020
$267,296
Homes built between 1990 and 2009 2012
$220,283
2013
$220,202
2014 2015 2016
$227,094 $253,765 $236,707 $269,889 $258,939
2017
$290,953 $279,727
2018
$290,819 $299,294
2019 2020
$ 2 8 6 , 6 8$327,478 3 $342,814 $348,339
Homes built after 2010 - RESALE ONLY 2012 2013 2014 2015 2016 2017
$224,700 $260,900 $263,900 $282,500 $295,200 $313,700 $346,100
2018
$368,082
2019
$402,311
2020
NEW CONSTRUCTION 2012 2013 2014 2015 2016 2017 2018 2019 2020
$249,900 $265,500 $279,400 $290,000 $315,000 $332,500 $380,600 $365,355 $385,120
LAST 12 MONTHS
Pasco 1262 25%
Kennewick 1801 35%
Outlying Areas 285 6% West Richland 369 7%
Richland 1362 27%
NEW VS. RESALES Last 6 months (June 2020 - December 2020)
Kennewick 226 26%
Pasco 241 40%
New Construction 802 25%
Resale 2365 75%
Richland 249 29% W. Richland 86 5%
9 6 5
6 7 9
5 5 6
2 2 6
Kennewick
2 4 1
Pasco
2 4 9
Richland
New Construction Resale
86
1 6 5
West Richland
12 MONTH C O M PA R I S O N S : INVENTORY 1200 1000 800 600 400 200 0 2015 2016 2017 2018 2019 2020
Jan 837 538 389 430 494 526
Feb 831 482 348 426 437 498
Mar 807 427 375 459 426 480
Apr 794 499 419 479 439 474
May 800 548 451 526 490 458
Jun 760 587 548 559 497 468
Jul 769 618 626 600 563 477
Aug 752 648 648 643 662 439
Sep 786 635 674 647 694 442
Oct 758 567 614 626 695 408
Nov 645 503 537 599 633 359
Dec 641 465 468 564 564 351
UNDER CONTRACTS 550 450 350 250 150 50 -50 2015 2016 2017 2018 2019 2020
Jan 258 283 255 322 328 340
Feb 323 351 308 316 249 427
Mar 435 414 395 395 397 391
Apr 422 389 350 356 402 324
May 403 382 429 426 450 445
Jun 362 385 377 384 425 464
Jul 358 386 405 402 424 466
Aug 342 405 376 369 417 503
Sep 339 365 316 347 407 458
Oct 303 374 357 340 380 452
Nov 335 269 342 260 308 338
Dec 205 227 260 234 247 259
Sep 342 394 377 319 379 472
Oct 343 378 360 406 415 496
Nov 235 350 349 333 345 427
Dec 351 330 369 258 359 409
TOTAL SALES 600 500 400 300 200 100 0 2015 2016 2017 2018 2019 2020
Jan 195 214 211 271 246 295
Feb 228 238 205 262 246 308
Mar 304 335 336 348 276 382
Apr 342 337 337 358 313 328
May 370 377 372 355 325 314
Jun 398 366 412 386 441 430
Jul 436 366 363 409 415 506
Aug 367 380 419 411 428 423
I N V E N T O R Y:
PRICE BREAKDOWN
255 73% $0 - $99,999 21 6%
99 4,9 7 2 -$
12 3%
10 3%
$125,000 - $149,999 4 1%
00 0,0 $25
99,999 00 - $2
$275,0
$300,000 - $324,999
9,99 - $34 ,000 $325
13 4%
$100,000 - $124,999 4 1%
9 99 4, 22 9 -$ 99 9, 00 24 ,0 -$ 00 0 $2 5,00 2 $2
9
$350,000+
15 4%
4 1%
10 3%
$175,000 - $199,999
3 1%
$350,000+ Breakdown $350k $374k
$375k $399k
20
43
$550k $574k
$575k $599k
10
9
Total Active = 351
$150,000 - $174,999 0 0%
$400k $424k
29 $600k $624k
3
$425k $449k
26 $625k $649k
5
$450k $474k
$475k $499k
$500k $544k
$524k $549k
22
15
9
13
$675k $699k
$700k +
4
41
$650k$674k
6
CURRENT LISTING INVENTORY
New Construction
7 7
Re-Sale
6 5
5 6 4 3 3 2
3 8 2 7 1 3
Kennewick
Pasco
Richland
West Richland
A B S O R P T I O N R AT E S : Months of Remaining Inventory DECEMBER CLOSED SALES
Months Inventory Absorbtion
1
1
1 1
1
1 5 0
1 2
1 2
3 3
675-699
3 3
625-649
4 3
575-599
3 6
3 8 1
700+
8 0
3
650-674
3
550-574
7 1
525-549
2 5
6 0
500-524
4 6
4
475-499
7 6
450-474
8 3
1 5 0
2
425-449
1 0 0
400-424
1 1 3
1
600-624
1
375-399
250-274
1 6 8
350-374
1 2 0
1 0 9
225-249
6 9
200-224
175-199
100-124
3 3 6
150-174
5 0
7 1
125-149
4 6
0-99
2
1
2
1
2 0 0
325-349
1
1
300-324
2 0 0
275-299
1
SOLDS
Total Closings = 409
$350,000+ Breakdown 177 43%
Count, Absorption Rate
50 $3 ,00 0+
$0 - $99,999
53 13%
12 3%
$325,0
00 - $3 49,999
00
2 0%
9
$250,0
74,999 00 - $2
$125,000 - $149,999
9 ,9
5,0
3 1%
9 24
$27
$100,000 - $124,999
$150,000 - $174,999
42 10%
11 3%
24 6%
28 7%
UNDER CONTRACTS Total Under Contract = 259
5 1%
5 1%
0
29 11%
$325,00
0 - $349
$375,000-$399,999
29
$400,000-$424,999
16
$425,000-$449,999
17
$450,000-$474,999
7
$475,000-$499,999
12
$500,000-$524,999
10
$525,000-$549,999
8
$550,000-$574,999
6
$575,000-$599,999
5
$600,000-$624,999
3
$625,000-$649,999
3
$650,000-$674,999
4
$675,000-$699,999
3
$700,000+
13
$350,000+ Breakdown
119 46%
$350,000-$374,999
25
$375,000-$399,999
29
$400,000-$424,999
13
$425,000-$449,999
6
$450,000-$474,999
8
$475,000-$499,999
4
$0 - $99,999
$500,000-$524,999
4
5 2%
$525,000-$549,999
3
$550,000-$574,999
5
$575,000-$599,999
4
$600,000-$624,999
2
$625,000-$649,999
4
$650,000-$674,999
0
$675,000-$699,999
1
$700,000+
11
Count, Absorption Rate
$3 50
,0 0
41
-$
47 12%
$ $2 175, 00 00 0 ,0 -$ 00 19 9,9 -$ 22 99 4, 99 9
0
- $2 99, 999
-
99
0 ,0 25 $2
00
,0 00 $3
,9 24 $3
$350,000-$374,999
+
,999
$100,000 - $124,999
$2 99
,99
00 $3
$2 75
,00 0-
27 10%
23 9%
- $274,999 $250,000
9
-
99
$1 75
9 99 4, 22 -$ 00 ,0 999 00 49, $2 - $2 00 5,0 $22
0
,00
,9 24 $3
15 6%
,0 0
0-
$1 99
4 1% ,99
$125,000 - $149,999
9
3 1% $150,000 - $174,999
4 2%
12 5%
11 4%
7 3%
M A R K E T S TAT S : Population: 2000 Census 2010 Census 2019 Estimate Tri-Cities, MSA........................................................................................ 191,822 ............. 253,340 ................... 289,960 Benton County................................................................................ 142,475 ................ 175,177 ..................... 197,420 Kennewick....................................................................................... 54,751 ................. 73,917 ...................... 81,850 Richland........................................................................................... 38,708 ............... 48,058 ...................... 54,320 West Richland................................................................................. 8,385 .................... 11,811 ....................... 15,320 Franklin County................................................................................ 49,347 ................. 78,163 ..................... 92,540 Pasco................................................................................................. 32,066 ................. 59,781 ..................... 73,590 Source: U.S. Census and Washington Office of Financial Management Forecasting Division, July 2018
Composite Index Housing Utilities Transportation Cost of Living: Tri-Cities, WA....................................................................... 98.7 ................ 100.6 ............... 95.0 ........................... 115.3 Yakima, WA.......................................................................... 93.6 ................... 76.7 .............. 84.8 ........................... 109.9 Spokane, WA...................................................................... 99.0 ................. 96.4 .................. 91.1 .......................... 106.8 Seattle, WA........................................................................ 154.8 ................ 212.5 ................. 111.1 .......................... 135.4 Portland, OR....................................................................... 131.0 ................. 181.5 ............... 88.0 ............................. 117.2 Boise, ID................................................................................. 97.2 .................... 91.6 ................ 87.4 ............................ 113.2
Household: Median Household Income.............. Kennewick, WA.......................................................................... $59,153 Pasco, WA...................................................................................... $64,019 Richland, WA................................................................................. $79,021 Average Household Spending........ Kennewick, WA.......................................................................... $58,813 Pasco, WA....................................................................................... $59,113 Richland, WA............................................................................... $72,994 Housing................................................... Average Selling Price(February 2019)........................... $310,100 Active Listings(SFR, February 2019)....................................... 450 Average Apartment Rent(2bed, 2 bath)............................. $920
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329 N Kellogg St, Kennewick, WA 99336
(509) 783 8811
rcsothebysrealty.com
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