M A R K E T AT A G L A N C E JULY 2019
1 4 8 3 B A D G E R M O U N TA I N L O O P | R I C H L A N D
D, WA | M L S # 2 3 93 5 8
TA B L E O F C O N T E N T S 01 04 05 07 09 12 13
// 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
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
$197,800 $202,500 $205,900 $209,900 $216,100 $227,100 $247,700 $270,200 $299,700 $314,541
$ 3 0 2019 0 , 2 is 3 YTD 5
01
Homes built prior to 1990 2012 2013 2014 2015
$150,300 $148,500 $154,900 $164,300
2016
$180,300
2017
$198,000
2018
$224,900 $234,787
2019
2019 is YTD
Homes built between 1990 and 2009 2012 2013 2014 2015 2016 2017 2018 2019
$216,800 $224,055 $236,965 $253,765 $269,889 $290,953 $290,819 $314,089
2019 is YTD 02
Homes built after 2010 - RESALE ONLY 2012 2013 2014 2015
$224,700 $260,900 $263,900 $282,500
2016
$295,200
2017
$313,700
2018
$346,100
2019
$370,163
2019 is YTD
Homes Built After 2010 - NEW CONSTRUCTION 2012 2013 2014 2015 2016 2017 2018 2019
$249,900 $265,500 $279,400 $290,000
$300,235
$315,000 $332,500 $380,600 $360,673
2019 is YTD 03
Y E A R LY R E S I D E N T I A L SALES: 3 1 6 6 2 2 3 0
2010
2 7 3 4
1 9 8 5
2011
2 7 9 7 1 8 5 8
2012
3 2 7 7
3 3 1 3
2 1 3 9
2 1 3 8
2013
2014
4 1 9 7
4 1 7 3
2 6 7 8
2 7 0 0
2 6 7 7
2015
2016
2017
3 9 8 1
Total Yealy Sales
TYTD Sales
4 2 2 1
2 8 3 8
2 0 0 5
2018
2019
Pasco 1092 26%
Kennewick 1505 35%
Outlying Areas 303 7% West Richland 260 6%
Richland 1094 26%
NEW VS. RESALES Last 6 months (February 2019 - July 2019)
Kennewick 138, 26%
Resale 1595, 75%
Pasco 206, 40%
New Construction 520, 25%
Kennewick 664, 42% Pasco 397, 25% Richland 421, 26% West Richland 113, 7%
Richland 150, 29%
W. Richland 26, 5%
New Construction
6 6 4
Resale
4 2 1
3 9 7
1 3 8
Kennewick
2 0 6
1 5 0
Pasco
Richland
1
26
1 3
West Richland
12 MONTH C O M PA R I S O N S : INVENTORY
1200 1000 800 600 400 200 0 2014 2015 2016 2017 2018 2019
Jan 1029 837 538 389 430 494
Feb 1019 831 482 348 426 437
Mar 1020 807 427 375 459 426
Apr 1057 794 499 419 479 439
May 1086 800 548 451 526 490
Jun 1121 760 587 548 559 497
Jul 1200 769 618 626 600 563
Aug 1187 752 648 648 643
Sep 1101 786 635 674 647
Oct 1044 758 567 614 626
Nov 944 645 503 537 599
Dec 839 641 465 468 564
UNDER CONTRACTS 550 450 350 250 150 50 -50 2014 2015 2016 2017 2018 2019
Jan 282 249 269 256 317 321
Feb 232 271 349 299 318 240
Mar 331 443 437 390 396 385
Apr 276 413 397 357 360 393
May 320 397 391 431 417 457
Jun 306 372 367 387 378 443
Jul 289 362 373 414 392 437
Aug 312 347 366 386 368
Sep 287 331 332 329 344
Oct 297 310 371 364 338
Nov 223 323 281 343 253
Dec 209 205 231 325 234
Apr 287 342 337 337 358 313
May 287 370 377 372 355 325
Jun 305 398 366 412 386 441
Jul 325 436 366 363 409 415
Aug 319 367 380 419 411
Sep 301 342 394 377 319
Oct 325 343 378 360 406
Nov 252 235 350 349 333
Dec 266 351 330 369 258
TOTAL SALES 500 450 400 350 300 250 200 150 100 50 0 2014 2015 2016 2017 2018 2019
Jan 159 195 214 211 271 246
Feb 173 228 238 205 262 246
Mar 249 304 335 336 348 276
08
I N V E N T O R Y:
PRICE BREAKDOWN
310, 55% $0 - $99,999
16, 3%
$350,000+
$100,000 - $124,999 34
$275,000 - $299,999
$3 24 ,9 0-
2, 1%
22 4, 99
9 ,9 9
74 $2
,00
-$
$150,000 - $174,999
9
2, 0%
9 24
0,99
$3 00
0
-$
,00 9
41, 7%
$125,000 - $149,999
,0 0
0
50 $2
,0 25 $3
53, 10%
$2 00 99
-$
0, 0%
9
0 ,0 25 $2
00
99 9,
12, 2% 22, 4%
$175,000 - $199,999
12, 2%
47, 8%
46, 8% $350,000+ Breakdown: $350k $374k
$375k $399k
$400k $424k
44
44
26
$425k $449k
$475k $499k
$500k $544k
$524k $549k
$550k $574k
$575k $599k
21
20
15
17
7
16
$600k $624k
4
$625k $649k
$650k $674k
$675k $699k
$700k +
9
2
10
38
$0-$99,999
$100,000-$124,999
$125,000-$149,999
$150,000-$174,999
$175,000-$199,999
$200,000-$224,999
$225,000-$249,999
$250,000-$274,999
$275,000-$299,999
$300,000-$324,999
$325,000-$349,999
$350,000+
Total Active = 563
09
37
$450k $474k
CURRENT LISTING INVENTORY
New Construction
1 7 6
Re-Sale
1 1 4
4 7
6 6
5 9
5 2
3 9 10
Kennewick
Pasco
Richland
West Richland
10
A B S O R P T I O N R AT E S :
UNDER CONTRACTS
$350,000+ Breakdown
Total Under Contract = 437
$35
35, 8%
0,0 00
Count, Absorption Rate
+
$3 25 ,0 0
0
-$
46, 11%
149, 34% 34 9
,9 9
9
$300,000 - $324,999 $0 - $99,999
8, 2%
-
$1 75
9
$125,000 - $149,999 -$
19 9
0
0 ,0
1, 0%
,9 9
9
$150,000 - $174,999
-$
6, 1%
24, 6%
9
9 24
99 4, 22
-$
- $2 74,9 99
,99 9
40, 9%
2, 0%
,0 0
0
00
,0 25 $2
$25 0,00 0
0
0 ,0 75 $2
9 ,9 99 2 $
00 $2
52, 12%
$100,000 - $124,999
$350,000-$374,999
31
$375,000-$399,999
32
$400,000-$424,999
14
$425,000-$449,999
16
$450,000-$474,999
10
$475,000-$499,999
14
$500,000-$524,999
6
$525,000-$549,999
6
$550,000-$574,999
4
$575,000-$599,999
4
$600,000-$624,999
2
$625,000-$649,999
4
$650,000-$674,999
1
$675,000-$699,999
2
$700,000+
3
18, 4%
56, 13%
Months of Remaining Inventory JULY UNDER CONTRACT SALES
Months Inventory
8
700+
675-699
0
650-674
300-324
2
625-649
275-299
2
600-624
250-274
1
575-599
225-249
1
550-574
200-224
2
525-549
175-199
3
3
500-524
150-174
2
475-499
1
2
450-474
1
2
425-449
1
2
400-424
1
1
375-399
0
1
350-374
0
1
325-349
0
125-149
11
1
1
100-124
0-99
2
SOLDS
Total Closings = 415
$350,000+ Breakdown
22, 5% $35 0,0
00
30 29
$400,000-$424,999
15
$425,000-$449,999
16
$450,000-$474,999
9
$475,000-$499,999
8
$500,000-$524,999
8
$525,000-$549,999
3
$100,000 - $124,999
$550,000-$574,999
4
$125,000 - $149,999
$575,000-$599,999
2
$600,000-$624,999
1
$625,000-$649,999
3
$650,000-$674,999
0
$675,000-$699,999
1
$700,000+
9
138, 33%
00+
,0 25 $3
37, 9%
$350,000-$374,999 $375,000-$399,999
Count, Absorption Rate
-$ 9 34 9 ,9 9
$30
0,0
00
-$
324 ,9
99
$0 - $99,999
1, 0%
62, 15% 9 $2
$17 $2 00
,0
9 $250,000 - $274 ,99
2, 1%
5,0
0
00
00
-$
- $1 99
22 4, 99
-$
,99
4, 1%
9
$150,000 - $174,999
20, 5% 3, 1% 9
9 24 ,99
24, 6%
9
63, 15%
,0 0
,0 25 $2
75 $2
00
9,9
99
39, 9%
Months of Remaining Inventory JULY CLOSED SALES
0
Months Inventory Absorbtion
0 0 1
2
3
3
3 3
3
7
0 3
8 1
3 2
700+
4 2
2 8 3
675-699
4 4
1 0 0
650-674
6 1
2
625-649
5 4
2
2
600-624
8 3
575-599
8 8
2
550-574
2
525-549
275-299
250-274
225-249
200-224
175-199
150-174
125-149
100-124
0-99
4 4
9 1
9 8
500-524
1 4 2
1 1
475-499
1 2 9
1
450-474
1 5 0
1
425-449
1
400-424
1 5 7
1
375-399
2
1
350-374
2 3 3
2 0 0
2 5 0
1
325-349
1
300-324
3 5 0
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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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