M A R K E T AT A G L A N C E JUNE 2021
8 1 0 1 W 1 0 T H AV E N U E | K E N N E W I C K , WA |
| MLS# 254505
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
2013 2014 2015 2016 2017 2018 2019 2020 2021
$211,354 $216,270 $227,280 $247,639 $270,189 $299,658 $324,085 $348,375 $386,817
2021 is YTD
YTD Sales
2 2 5 3
2021
2018
Yearly Residential Sales
4 7 9 4
2020
4 2 2 7
4 3 2 7
2019
4 1 8 4
2017
2014
4 2 0 4
2016
3 3 2 8
3 9 8 5
2015
3 2 4 4
2013
Y E A R LY R E S I D E N T I A L SALES:
Homes built prior to 1990 2013 2014 2015
$149,718 $155,412 $165,564 $181,285
2016 2017
$198,426 $226,907
2018 2019
$248,214 $267,296
2020 2021
$289,193 2021 is YTD
Homes built between 1990 and 2009 2013 2014 2015 2016 2017 2018 2019 2020 2021
$220,202 $227,094 $236,707 $258,939 $279,727 $299,294 $327,478 $348,339 $391,153 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
$436,367
2021
2021 is YTD
NEW CONSTRUCTION 2013 2014 2015 2016 2017 2018 2019 2020 2021
$265,500 $279,400 $290,000 $315,000 $332,500 $380,600 $365,355 $385,120 $424,299 2021 is YTD
LAST 12 MONTHS
Pasco 1404 27%
Kennewick 1768 33%
Outlying Areas 315 6% West Richland 440 8%
Richland 1388 26%
NEW VS. RESALES Last 6 months (December 2020 - June 2021)
Kennewick 173 26%
Resale 1827 68%
Pasco 364 40%
New Construction 845 32%
Richland 202 29% W. Richland 106 5%
New Construction
7 0 0
Re-Sale
3 6 4
2 0 2
1 7 3
Kennewick
4 9 4
4 7 5
Pasco
Richland
158 106
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 482 348 426 437 498 230
Mar 427 375 459 426 480 168
Apr 499 419 479 439 474 161
May 548 451 526 490 458 155
Jun 587 548 559 497 468 197
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 351 308 316 249 427 374
Mar 414 395 395 397 391 464
Apr 389 350 356 402 324 362
May 382 429 426 450 445 427
Jun 385 377 384 425 464 364
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 238 205 262 246 308 310
Mar 335 336 348 276 382 382
Apr 337 337 358 313 328 390
May 377 372 355 325 314 409
Jun 366 412 386 441 430 452
Jul 366 363 409 415 506
Aug 380 419 411 428 423
INVENTORY:
PRICE BREAKDOWN
149 76% $0 - $99,999 9 5%
$350,000+
$100,000 - $124,999 0 0%
99 9,9 $29 00 99 5,0 4,9 7 $27 $2 00 ,0 50 $2
99 $349,9
9
9
7 5 4% 2%
22 4, 99
9 ,9
9 5%
-$
9 24
00 $325,0
,999
0
-$
$300,000 - $3 24
,0 0
0
5 3%
0 ,0 25 $2
$2 00
5 2%
$125,000 - $149,999 2 1% $150,000 - $174,999 2 1% $175,000 - $199,999
1 0%
3 1%
$350,000+ Breakdown $350k $374k
$375k $399k
$400k $424k
$425k $449k
9
12
5
6
7
14
10
$550k $574k
$575k $599k
$600k $624k
$625k $649k
$650k$674k
$675k $699k
$700k +
6
8
7
35
Total Active = 197
3
12
$450k $474k
1
$475k $499k
$500k $544k
$524k $549k
14
CURRENT LISTING INVENTORY
6 2
New Construction Re-Sale
4 0 2 8 1 5
Kennewick
1 5
1 4
Pasco
Richland
1 4
8
West Richland
A B S O R P T I O N R AT E S : Months of Remaining Inventory JUNE CLOSED SALES
Months Inventory Absorbtion Percentage 0
1 7 1
7 7
77 9
525-549
550-574
2 0 0
1
500-524
2
625-649
5 3
575-599
1 1 5
475-499
7 3
8 9
450-474
1
425-449
350-374
1 2 9
1
1 1 1 0 0
7 8
1 8 1
700+
1 1 9 0
400-424
9 1
1 1 2
325-349
250-274
6 9
1 0 0
300-324
7 7
275-299
7 5
225-249
2 1
1
1 1 0 0
200-224
5
1
1
375-399
1
2
150-174
100-124
1
5 7
125-149
2 3
3 3
0-99
4
3
1
175-199
2 0 0
1
675-699
1
1
650-674
4 0 0
1
600-624
1
SOLDS
$350,000+ Breakdown
Total Closings = 452
297 66%
Count, Absorption Rate
$350,000-$374,999
46
$375,000-$399,999
45
$400,000-$424,999
40
$425,000-$449,999
27
$450,000-$474,999
25
$475,000-$499,999
23
$500,000-$524,999
10
$525,000-$549,999
17
$550,000-$574,999
11
$575,000-$599,999
8
$600,000-$624,999
8
$625,000-$649,999
4
$650,000-$674,999
5
$675,000-$699,999
7
$0 - $99,999 0,0
6 1%
00
+
43 10%
$100,000 - $124,999
2 0%
74 $2
9 ,9
$17 5,0 $2 00 -$ $2 00,0 199 00 25 ,99 -$ 9 ,0 22 00 4,9 99 -$ 24 9, 99 9
0
-
$125,000 - $149,999
2 0%
0 ,0 50 2 $
00 7 5, $2
0
299 -$
,99
9
$300,000 - $324,999
$3 25 ,0
00
-$
34 9
,9 9
9
9
$35
$150,000 - $174,999
12 24 14 17 3% 3 5% 3% 4% 1%
28 6%
4 1%
$700,000+
$350,000+ Breakdown
UNDER CONTRACTS Total Under Contract = 364
$350,000-$374,999
26
$375,000-$399,999
31
$400,000-$424,999
24
$425,000-$449,999
21
$450,000-$474,999
16
$475,000-$499,999
15
$0 - $99,999
$500,000-$524,999
10
5 1%
$525,000-$549,999
17
$100,000 - $124,999
$550,000-$574,999
12
1 0%
$575,000-$599,999
9
$600,000-$624,999
5
$625,000-$649,999
7
$650,000-$674,999
4
$675,000-$699,999
6
$700,000+
34
Count, Absorption Rate
237 65%
0,00
41 11%
13 4%
,9
$125,000 - $149,999
1 0%
74 $2
20 5%
0 ,0 50 $2
0
-
,9 299
99
$ $2 175,00 00 ,00 0 - $19 $2 9,9 025 99 $2 ,0 24 00 ,99 9 -$ 24 9, 99 9
0- $ 5,00 7 2 $
$300,000 - $324,999
00
-$
34 9
,99
9
99
0+
$3 25 ,0
$35
29
20 6%
15 4%
$150,000 - $174,999
6 3 2% 1%
2 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 ................... 296,480 Benton County................................................................................ 142,475 ................ 175,177 .................... 201,800 Kennewick....................................................................................... 54,751 ................. 73,917 ...................... 83,670 Richland........................................................................................... 38,708 ............... 48,058 ...................... 56,850 West Richland................................................................................. 8,385 .................... 11,811 ....................... 15,340 Franklin County................................................................................ 49,347 ................. 78,163 ..................... 94,680 Pasco................................................................................................. 32,066 ................. 59,781 ..................... 75,290
Source: U.S. Census and Washington Office of Financial Management Forecasting Division, July 2019
Composite Index Housing Utilities Transportation Cost of Living: Tri-Cities, WA....................................................................... 97.8 .................... 99.7 ............... 92.1 ............................ 112.2 Yakima, WA........................................................................... 96.1 ................... 80.7 .............. 83.3 ............................ 114.5 Spokane, WA.................................................................... 100.3 .................. 99.3 ................ 97.5 .......................... 108.5 Seattle, WA........................................................................ 156.7 ................ 225.0 .............. 108.1 ............................ 137.6 Portland, OR..................................................................... 134.0 ................. 184.3 ................ 87.2 ........................... 130.8 Boise, ID............................................................................... 98.4 .................... 96.5 ................ 82.0 .......................... 130.2
Household: Median Household Income.............. Kennewick, WA......................................................................... $62,203 Pasco, WA..................................................................................... $66,735 Richland, WA................................................................................ $78,798 Average Household Spending........ Kennewick, WA.......................................................................... $58,277 Pasco, WA..................................................................................... $58,669 Richland, WA............................................................................... $69,063 Housing................................................... Average Selling Price(January 2020)............................ $313,200 Active Listings(SFR, January 2020)......................................... 464 Average Apartment Rent(2 bed, 2 bath)............................. $964
11
329 N Kellogg St, Kennewick, WA 99336
(509) 783 8811
rcsothebysrealty.com
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