M A R K E T AT A G L A N C E JUNE 2022
1 1 3 0 0 W C O U R T S T | PA S C O , W A |
| MLS# 262077
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
2014 2015 2016 2017 2018 2019 2020 2021 2022
$216,270 $227,280 $247,639 $270,189 $299,658 $324,085 $348,375 $410,664 $473,982
2022 is YTD
2 0 1 6
YTD Sales
2022
2019
Yearly Residential Sales
4 7 2 2
2021
4 3 2 7
4 7 9 4
2020
4 2 2 7
2018
2015
4 1 8 4
2017
4
3 9 8 3 5 2 8
2014
3 3 3 2 2 4 8
4 2 0 4
2016
Y E A R LY R E S I D E N T I A L SALES:
AV E R A G E S A Homes built prior to 1990 2014 2015 2016 2017
$155,412 $165,564 $181,285 $198,426 $226,907
2018
$248,214
2019
$267,296
2020
$312,485
2021
$350,631 2022 is YTD
2022
Homes built after 2010 - RESALE ONLY 2014 2015 2016 2017 2018 2019 2020 2021 2022
$263,900 $282,500 $295,200 $313,700 $346,100 $368,082 $402,311 $471,174 $519,017
2022 is YTD
ALES PRICE Homes built between 1991 and 2009 2014 2015 2016 2017 2018
$227,094 $236,707 $258,939 $279,727 $299,294
$327,478
2019
$348,339
2020
$411,777
2021
$456,600 $461,255
2022
2022 is YTD
Homes built after 2010 - NEW CONSTRUCTION 2014 2015 2016 2017 2018 2019 2020 2021 2022
$279,400 $290,000 $315,000 $332,500 $380,600 $365,355 $385,120 $453,654 $546,600 2022 is YTD
LAST 12 MONTHS
Pasco 1064 22% Kennewick 1708 35% Outlying Areas 420 9%
West Richland 391 8%
Richland 1272 26%
NEW VS. RESALES Last 6 months (December 2021 - June 2022)
Kennewick 145
Resale 1556 77%
Pasco 90
New Construction 458 23%
Richland 176
W. Richland 47
6 3 2
New Construction Re-Sale
4 3 1
3 5 5 1 4 5
Kennewick
1 7 6
9 0
Pasco
Richland
138 47
West Richland
12 MONTH C O M PA R I S O N S : INVENTORY
800 700 600 500 400 300 200 100 0 2017 2018 2019 2020 2021 2022
Jan 389 430 494 526 282 270
Feb 348 426 437 498 230 276
Mar 375 459 426 480 168 298
Apr 419 479 439 474 161 313
May 451 526 490 458 155 387
Jun 548 559 497 468 197 502
Jul 626 600 563 477 250
Aug 648 643 662 439 328
Sep 674 647 694 442 365
Oct 614 626 695 408 384
Nov 537 599 633 359 399
Dec 468 564 564 351 338
UNDER CONTRACTS
600 500 400 300 200 100 0 2017 2018 2019 2020 2021 2022
Jan 255 322 328 340 387 298
Feb 308 316 249 427 374 342
Mar 395 395 397 391 464 375
Apr 350 356 402 324 362 373
May 429 426 450 445 427 374
Jun 377 384 425 464 364 309
Jul 405 402 424 466 391
Aug 376 369 417 503 418
Sep 316 347 407 458 385
Oct 357 340 380 452 408
Nov 342 260 308 338 359
Dec 260 234 247 259 266
Sep 377 319 379 472 430
Oct 360 406 415 496 408
Nov 349 333 345 427 361
Dec 369 258 359 409 403
TOTAL SALES
600 500 400 300 200 100 0 2017 2018 2019 2020 2021 2022
Jan 211 271 246 295 303 259
Feb 205 262 246 308 310 275
Mar 336 348 276 382 382 372
Apr 337 358 313 328 390 351
May 372 355 325 314 409 381
Jun 412 386 441 430 452 369
Jul 363 409 415 506 436
Aug 419 411 428 423 418
INVENTORY:
PRICE BREAKDOWN Total Active = 502
53 10%
84 17%
$ 6 00
30 6%
00
9
$7
9,99
,0 0
0
-$
- $69
79
9, 99
9
,000
101 20%
00
,0 00 $8 $500,000 - $5
99,999
-
99 $8
,99
00 - $9
$900,0
18 4%
9
99,999
17 3%
$1,000,000+
$0 - $99,999 3 1% $100,000 - $199,999 10 2%
$400,000 - $499,999 100 20%
$200,000 - $299,999 15 3% $300,000 - $399,999 71 14%
CURRENT LISTING INVENTORY New Construction
1 1 5
Re-Sale
8 9
4 1
Kennewick
9 6
8 3
3 4
2 1
Pasco
Richland
2 3
West Richland
SOLDS
Total Closings = 369
55 15%
$400,00
0 - $499
0
-$
69
9, 99
9
25 7%
,0 0 00 $6
,0 $500
00 - $
599,9
99
36 10%
0
,00
0 $70
79 -$
9,9
99
6 1%
- $899,999 $800,000 $900,000 - $999,99 9 $1,000,0 00+
,999
116 31%
4 1%
11 3%
0 0% $0 - $99,999
3 1%
$100,000 - $199,999
11 3%
$200,000 - $299,999 $300,000 - $399,999
84 23%
18 5%
UNDER CONTRACTS Total Under Contract = 309
24 8%
$400,000 - $499,999 84 27%
$500,000 - $599
,999
42 14%
-$
00
6
9 ,9 99
9
11 4%
0 0,
0 $6
19 6%
$7 00 -
99,9
99
0,0
$70
9 00 - $899,99
$800,0
5 2%
$900,000 - $999,999 $1,000,0 00+
4 1% $0 - $99,999 4 1% $100,000 - $199,999 7 2%
$300,000 - $399,999 84 27%
$200,000 - $299,999 25 8%
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
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329 N Kellogg St, Kennewick, WA 99336
(509) 783 8811
rcsothebysrealty.com
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