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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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Market at a Glance - July 2018  
Market at a Glance - July 2018  
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