M A R K E T AT A G L A N C E JANUARY 2021
3 5 0 8 W 3 6 T H LO O P | K E N N E W I C K , WA |
| MLS# 251099
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
2012 2013 2014 2015 2016 2017 2018 2019
$205,885 $211,354 $216,270 $227,280 $247,639 $270,189 $299,658 $324,085
2020
$348,375
2021
$356,094 2021 is YTD
Y E A R LY R E S I D E N T I A L SALES:
3 2 4 4
3 3 2 8
3 9 8 5
4 2 0 4
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
2017
2016
2015
2014
2013
303
Homes built prior to 1990 2013 2014 2015 2016
$149,718 $155,412 $165,564 $181,285
2017
$198,426 $226,907
2018 2019
$248,214 $267,296
2020 2021
$275,919
2021 is YTD
Homes built between 1990 and 2009 2013 2014 2015 2016 2017
$220,202 $227,094 $236,707 $253,765 $258,939 $269,889 $279,727
2018
$290,953 $299,294
2019
$290,819
2020 2021
$327,478
$286,683
$348,339 $355,368 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
$391,165
2021
2021 is YTD
NEW CONSTRUCTION 2013 2014 2015 2016 2017 2018 2019 2020 2021
$265,500 $279,400 $290,000 $315,000
$300,235
$332,500 $380,600 $365,355 $385,120 $397,001 2021 is YTD
LAST 12 MONTHS
Pasco 1294 25%
Kennewick 1785 35%
Outlying Areas 293 6% West Richland 377 7%
Richland 1356 27%
NEW VS. RESALES Last 6 months (July 2020 - January 2021)
Kennewick 217 26%
Pasco 270 40%
New Construction 824 27%
Resale 2226 73%
Richland 256 29% W. Richland 81 5%
9 0 8
New Construction
6 3 9
5 1 9
2 1 7
Kennewick
2 7 0
Pasco
2 5 6
Richland
Resale
81
1 6 0
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
Mar 427 375 459 426 480
Apr 499 419 479 439 474
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
Mar 414 395 395 397 391
Apr 389 350 356 402 324
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
Mar 335 336 348 276 382
Apr 337 337 358 313 328
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
213 76% $0 - $99,999 14 5%
$350,000+
9
,99
74 $2
00
-
13 5%
5 2%
$125,000 - $149,999 10 4%
,0 50 $2
9
99,99 0 - $2
,00 $275
,999 24 $300,000 - $3
$325,000 -
7 2%
9 99 4, 22 99 - $ 9,9 00 $24 ,0 00 00 $2 25,0 $2
$349,999
$100,000 - $124,999 1 0%
3 7 1% 5 2% 2%
$150,000 - $174,999 0 0% $175,000 - $199,999
4 1%
$350,000+ Breakdown $350k $374k
$375k $399k
18
30
$550k $574k
$575k $599k
6
6
Total Active = 282
$400k $424k
29 $600k $624k
4
$425k $449k
25 $625k $649k
5
$450k $474k
$475k $499k
$500k $544k
$524k $549k
15
11
8
4
$675k $699k
$700k +
4
41
$650k$674k
7
CURRENT LISTING INVENTORY
7 1
New Construction Re-Sale
4 8 3 7
3 2
3 3
3 3 2 0 9
Kennewick
Pasco
Richland
West Richland
A B S O R P T I O N R AT E S : Months of Remaining Inventory JANUARY CLOSED SALES
Months Inventory Absorbtion
1
1 1
1
1 8
3 6
9
2 7
1 1
01 5 0
3 8
700+
6
675-699
4 3
625-649
4 0
600-624
2 9
3
8 0
4
575-599
3 0
2
550-574
3
525-549
3 3
500-524
300-324
8 6
475-499
6 4
7 3
1 0 6
650-674
2
450-474
1 2 9
7 1
275-299
250-274
225-249
150-174
125-149
100-124
0-99
1 2
7 7
1 1 4
2 9
200-224
5 7
3
175-199
8
6 7
1 0 6
1
1 5 0
425-449
1
1
400-424
1
375-399
1 2
1
350-374
2 0 0
325-349
1
SOLDS
$350,000+ Breakdown
Total Closings = 303 145 48%
Count, Absorption Rate
50 $3 ,00 0+
$0 - $99,999
3 1%
0 - $274
2 1%
,99
,000
$125,000 - $149,999
9 24 9
$275
4 1%
-$
36 12%
$100,000 - $124,999
$1 75 ,00 $2 000 $1 ,0 99 00 ,99 9 -$ 22 4, 99 9
00
0 $3
$250,00
9 9,99
-
,0 25 $2
0
00 0,
9 99 4, 2 $3
,999
$325,000 - $349,999
- $29
30 10%
$150,000 - $174,999
25 8%
17 6%
17 6%
16 5%
4 1%
4 1%
Total Under Contract = 387
189 49%
00
0
$425,000-$449,999
11
$450,000-$474,999
8
$475,000-$499,999
8
$500,000-$524,999
6
$525,000-$549,999
4
$550,000-$574,999
5
$575,000-$599,999
4
$600,000-$624,999
3
$625,000-$649,999
0
$650,000-$674,999
4
$675,000-$699,999
1
$700,000+
6
31
$400,000-$424,999
21
$425,000-$449,999
22
$450,000-$474,999
4
$475,000-$499,999
19
$0 - $99,999
$500,000-$524,999
8
10 3%
$525,000-$549,999
10
$550,000-$574,999
6
-$
0
- $1 99
$575,000-$599,999
8
22 4, 99
$600,000-$624,999
5
$625,000-$649,999
6
$650,000-$674,999
5
$675,000-$699,999
2
$700,000+
11
2 0% ,99
9
$125,000 - $149,999
1 0%
9
$150,000 - $174,999
9
20 5%
,00
,99
5,0
18
$100,000 - $124,999
9 24
36 9%
,0 0
-$
42 11%
- $274,999 $250,000
00 $3
$1 75
$2 00
00
- $2 99, 999
99
,0 25 $2
0
,00
-
$400,000-$424,999
$375,000-$399,999
Count, Absorption Rate
$325,000 - $349,999
,9 24 $3
37
31
+
$27
35 9%
$375,000-$399,999
$350,000-$374,999
$3 50
0
30
$350,000+ Breakdown
UNDER CONTRACTS
,0 0
$350,000-$374,999
23 6%
18 5%
8 2%
3 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 ................... 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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