MARKET AT A GLANCE JULY2018
2619 FALCON LANE, RICHLAND, 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 COMPARISON $350,000.00
$298,500
$300,000.00 $270,200.00 $247,700.00
$250,000.00
$200,000.00
$190,300.00
$197,800.0
$202,500.00 $205,900.00
$209,900.00
$216,100.00
$227,100.00
$150,000.00
$100,000.00
$50,000.00
$0.00
01
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
TRI CITIES YEARLY AVERAGE SALES COMPARISON Homes built prior to 1990 $250,100
$223,200 $198,000
$200,100
$180,300
$150,100
$142,900
$145,700
2010
2011
$150,300
$148,500
2012
2013
$154,900
$164,300
$100,100
$50,100
$100
2015
2016
2017
2018
New vs. Resales TRI CITIES YEARLY AVERAGE Last 6 months SALES COMPARISON Feb. 2017 - July 2018 Homes built after 1990
800 $350,100 700
2014
$332,700 698
$303,500
$300,100
$282,400
600 $250,100
$227,900
500
$232,600
$236,600
$247,800
$257,700
468
$200,100
418
400 $150,100
300
$100,100 200 $50,100 100
0 $100
150
130
134
114
$22,320 2010 Kennewick
33
2011
2012
Pasco 2013 Resale
2014 2015 Richland New Construction
2016
2017 West Richland 2018
02
SALES ACTIVITY 12 MONTH SALES ACTIVITY Outlying Areas 7% West Richland 7%
Kennewick 35%
Richland 25%
Pasco 26%
03
New vs. Resales Last 6 months Feb. 2017 - July 2018
Kennewick 6%
Resale 1718, 80%
Pasco 7%
New Construction 427, 24%
Richland 5%
W. Richland, 2%
New vs. Resales Last 6 months Feb. 2018- July 2018
800
700
698
600
500
468 418
400
300
200
150
130 100
114
134
33 0
Kennewick
Pasco
Resale
Richland New Construction
West Richland
04
12 MONTH COMPARISONS MONTHLY INVENTORY COMPARISON
1400 1200 1000 800 600 400 200 0 2013 2014 2015 2016 2017 2018
05
Jan 1150
Fe b 1136
Mar 1196
Apr 1283
May 1262
Jun 1296
Jul 1313
Aug 1296
Sep 1287
Oct 1209
Nov 1104
Dec 1016
837
831
807
794
800
760
769
752
786
758
645
641
614
537
468
1029 538 389 430
1019 482 348 426
1020 472 375 459
1057 499 419 479
1086 548 451 526
1121 587 548 559
1200 618 626 600
1187 648 648
1101 635 674
1044 567
944
503
839
465
12 MONTH CLOSING COMPARISON SALES 5 00 4 50 4 00 3 50 3 00 2 50 2 00 1 50 1 00
50 0
2 01 3
J an 1 88
Fe b 168
Mar 252
Apr 277
May 285
Jun 284
Jul 331
Aug 298
Sep 293
Oct 266
Nov 2 27
Dec 2 58
2 01 5
1 95
225
304
342
370
398
436
367
342
343
2 35
3 51
2 01 4 2 01 6 2 01 7 2 01 8
1 59
2 14 2 11
2 71
173
238 205
262
249
335 336
348
287
337 334
358
287 377 372 355
305 366 412 386
325 366 363 409
319 380 419
301 394 377
325 378 360
2 52 3 50 3 49
2 66 3 30 3 69
12 MONTH UNDER CONTRACT COMPARISON 5 00 4 50 4 00 3 50 3 00 2 50 2 00 1 50 1 00 50 0 2 01 3
J an 2 27
Fe b 2 59
Ma r 2 90
Ap r 3 04
Ma y 3 13
J un 2 93
J ul 3 16
Aug 2 43
Sep 2 27
Oct 2 44
Nov 1 88
Dec 1 54
2 01 5
2 49
2 71
4 43
4 13
3 97
3 72
3 62
3 47
3 31
3 10
3 23
2 05
2 01 4 2 01 6 2 01 7 2 01 8
2 82
2 69 2 56
3 17
2 32 3 49 2 99 3 18
3 31 4 37 3 90 3 96
2 76 3 97 3 57 3 60
3 20 3 91 4 31 4 17
3 06 3 67 3 87 3 78
2 89 3 73 4 14 3 92
3 12 3 66 3 86
2 87 3 32 3 29
2 97 3 71 3 64
2 23 2 81 3 43
2 09 2 31 3 25
06
INVENTORY July - SOLDS
37, 9%
27, 7%
$350,000-$374,999, 24, 6%
43, 11% $375,000-$399,999, 23, 6% 36, 9%
$400,000-$424,999, 14, 3% 127, 31%
$425,000-$449,000, 9, 2% $450,000 - $474,999, 12, 3%
45, 11%
$475,000 - $499,999, 10, 2% $500,00 - $524,999, 4, 1% $525,000 - $549,999, 8, 2% $550,000 - $574,999, 3, 1% $575,000 - $599,999, 3, 1%
34, 8% 28, 7% 8, 2%
$700,000+, 7, 2%
8, 2%
6, 1%
10, 2%
$0-$99,999 $175,000-$199,999 $275,000-$299,999
Total Closings = 409
07
$100,000-$124,999 $200,000-$224,999 $300,000-$324,999
$125,000-$149,999 $225,000-$249,999 $325,000-$349,999
$150,000-$174,999 $250,000-$274,999
July - ACTIVES $675,000 - $699,999 $625,000 - $649,999 $575,000 - $599,999
4 3
$525,000 - $549,999 $475,000 - $499,999 $425,000-$449,000 $375,000-$399,999 $325,000-$349,999 $275,000-$299,999 $225,000-$249,999 $175,000-$199,999 $125,000-$149,999 $0-$99,999
7
2
30
6 7 18
9
0
15
10
20
37 35
44 50 49
34
20
13
4 4
21 23 25 26
30
40
50
59
55
60
70
July - UNDER CONTRACT $675,000 - $699,999
0 0
$625,000 - $649,999 $575,000 - $599,999 $525,000 - $549,999
3 1 1
2
$475,000 - $499,999 $425,000-$449,000 $375,000-$399,999
3
5 4
5
8
10
2
$325,000-$349,999
14 16
$275,000-$299,999 $225,000-$249,999
8
$175,000-$199,999 $125,000-$149,999 $0-$99,999
4 0
9
8 10
39
23
33
54
32
16 20
42
30
40
50
60
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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