M A R K E T AT A G L A N C E JULY 2020
1 0 7 2 O A S I S R O A D | T O U C H E T, W A |
| MLS# 246716
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 2020
$249,900 $265,500 $279,400 $290,000 $315,000 $332,500 $380,600 $365,355 $391,676
2020 is YTD
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
2019
$252,631
2020
$264,438
2020 is YTD
Homes built between 1990 and 2009 2012 2013 2014 2015 2016
$216,800 $224,055 $236,965 $ 2 5 3$, 27 56 35 , 7 6 5 $ 2 6 9$, 2 86 89,889
2017
$ 2 9 0 $, 92 59 30 , 9 5 3
2018
$ 2 9 0 $, 82 1990 , 8 1 9
2019 2020
$ 2 8 6 $, 62 88 36 , 6 8 3 $3 , 4, 8 3 154 $6 342
2020 is YTD
Homes built after 2010 - RESALE ONLY 2012 2013 2014 2015 2016 2017
$224,700 $260,900 $263,900 $282,500 $295,200 $313,700
2018
$346,100
2019
$368,082
2020
$408,863
2020 is YTD
NEW CONSTRUCTION 2012 2013 2014 2015 2016 2017 2018 2019 2020
$249,900 $265,500 $279,400
$300,235
$290,000 $315,000
$332,500 $380,600 $365,355 $391,676
2020 is YTD
4 1 9 7
3 9 8 1
4 1 7 3
4 2 2 1
4 3 3 0
TYTD Sales
2020
2019
2018
2017
2016
2 5 2 3
2015
2012
3 3 1 3
2014
2 7 9 7
3 2 7 7
2013
2 7 3 4
2011
Y E A R LY R E S I D E N T I A L SALES:
LAST 12 MONTHS
Pasco 1393 26%
Kennewick 1863 35%
Outlying Areas 346 7% West Richland 394 8%
Richland 1279 24%
NEW VS. RESALES Last 6 months (January 2020 - July 2020)
Kennewick 188, 26%
Resale 1846, 73%
Pasco 248, 40%
New Construction 685, 27%
Richland 191, 29%
W. Richland 58, 5%
7 7 7
New Construction Resale
4 9 2
4 3 8
1 8 8
Kennewick
2 4 8
Pasco
1 9 1
Richland
58
1 3 9
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
Sep 786 635 674 647 694
Oct 758 567 614 626 695
Nov 645 503 537 599 633
Dec 641 465 468 564 564
UNDER CONTRACTS 550 450 350 250 150 50 -50 2015 2016 2017 2018 2019 2020
Jan 249 269 256 317 321 358
Feb 271 349 299 318 240 425
Mar 443 437 390 396 385 395
Apr 413 397 357 360 393 341
May 397 391 431 417 457 447
Jun 372 367 387 378 443 469
Jul 362 373 414 392 437 460
Aug 347 366 386 368 437
Sep 331 332 329 344 402
Oct 310 371 364 338 355
Nov 323 281 343 253 317
Dec 205 231 325 234 242
TOTAL SALES 500 450 400 350 300 250 200 150 100 50 0 2015 2016 2017 2018 2019 2020
Jan 195 214 211 271 246 266
Feb 228 238 205 262 246 288
Mar 304 335 336 348 276 352
Apr 342 337 337 358 313 288
May 370 377 372 355 325 290
Jun 398 366 412 386 441 394
Jul 436 366 363 409 415 468
Aug 367 380 419 411 428
Sep 342 394 377 319 379
Oct 343 378 360 406 415
Nov 235 350 349 333 345
Dec 351 330 369 258 359
I N V E N T O R Y:
PRICE BREAKDOWN
307, 64%
$0 - $99,999
$350,000+
23, 5%
9
99 74, $2
00 0,0
5 $2
- $299,99
$125,000 - $149,999
11, 2%
9
9
$275,000
,999 $324
22 4, 99
9 ,9
,000 -
-$
9 24
$300
9
9 ,9 9 34 9 -$ 00
0
-$
$3 25 ,0
5, 1%
,0 0
0
21, 4%
0 ,0 25 $2
41, 9%
$100,000 - $124,999
$2 00
$150,000 - $174,999
0, 0%
16, 3% 27, 6%
$175,000 - $199,999
9, 2%
4, 1%
13, 3%
$350,000+ Breakdown $350k $374k
$375k $399k
25
38
$550k $574k
$575k $599k
15
22
Total Active = 477
$400k $424k
40 $600k $624k
12
$425k $449k
23 $625k $649k
6
$450k $474k
$475k $499k
$500k $544k
$524k $549k
23
20
16
19
$675k $699k
$700k +
$650k$674k
7
13
28
CURRENT LISTING INVENTORY
New Construction
1 0 3
9 7
7 1
6 8 5 4
Kennewick
Re-Sale
4 5
Pasco
3 5
Richland
2 3
West Richland
A B S O R P T I O N R AT E S : Months of Remaining Inventory JULY CLOSED SALES
Months Inventory Absorbtion 0
0
1
1 1
3
3
3 6
3 6
4 0
650-674
0
575-599
3
550-574
3
525-549
5 0
2
500-524
425-449
4 6
7 5
600-624
2
2
1
2
1
6 3
700+
1
1
475-499
1 2 9
400-424
8 5
1 0 9
375-399
1 1 3
350-374
1 1 1
675-699
1 1
325-349
275-299
1
450-474
1 1 5 4
250-274
225-249
200-224
150-174
2
1 9 1
5 6
4 3
125-149
0-99
3 1
2 6 7
100-124
3
1 2 1
175-199
1
2 0 0
7
1
300-324
1
625-649
2 7 1
SOLDS
Total Closings = 468
$350,000+ Breakdown
Count, Absorption Rate
207, 44%
0+
0 ,0
50 $3
$0 - $99,999
8, 2%
53, 11% $325,000 - $349,99 9
4, 1%
$125,000 - $149,999
2, 0% $150,000 - $174,999
3, 1%
9 24 ,99
17, 4%
9
$250,000 - $274,999
,9 9 29 9 -$ 0 ,0 0
$1 7 $2 5,00 00 0$1 ,0 99 00 ,99 -$ 9 22 4, 99 9
9, 2% 42, 9%
38, 8%
35
$375,000-$399,999
38
$400,000-$424,999
27
$425,000-$449,999
17
$450,000-$474,999
21
$475,000-$499,999
10
$500,000-$524,999
11
$525,000-$549,999
8
$550,000-$574,999
5
$575,000-$599,999
6
$600,000-$624,999
5
$625,000-$649,999
6
$650,000-$674,999
2
$675,000-$699,999
6
$700,000+
10
$100,000 - $124,999
-$
$2 75
00
54, 11%
,0 25 $2
31, 7%
9
9
0
0,00
$30
9 24,9 - $3
$350,000-$374,999
$350,000+ Breakdown
UNDER CONTRACTS Total Under Contract = 460
$350
Count, Absorption Rate
,000
195, 42%
+
42, 9% $325
,000
- $349
,999
$0 - $99,999
4, 1%
9 24,99 0 - $3
$100,000 - $124,999
0
9 24 ,99
9 0
-$
29 9
,9 9
29, 6% 42, 9%
$125,000 - $149,999
2, 1%
$375,000-$399,999
42
$400,000-$424,999
26
$425,000-$449,999
21
$450,000-$474,999
11
$475,000-$499,999
18
$500,000-$524,999
7
$525,000-$549,999
8
$550,000-$574,999
7
$575,000-$599,999
7
$600,000-$624,999
1
$625,000-$649,999
2
$650,000-$674,999
3
$675,000-$699,999
2
$700,000+
5
$150,000 - $174,999
15, 3% 19, 4%
9
$250,000 - $274,999
-$
,0 0
$17 $2 5,0 00 00 -$ ,0 199 00 ,99 9 -$ 22 4, 99 9
35
2, 1%
00
55, 12%
,0 25 $2
$2 75
50, 11%
,0 $300
$350,000-$374,999
5, 1%
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
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