Tri-Cities Insider - Your Local Real Estate Market Guide
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TRI-CITIES INSIDER
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The Guide To Our Local Real Estate Market
Navigating the Tri-Cities Real Estate Landscape
Main Takeaways from This Report:
Stability, Sustainability, and Growth Ahead: While the rapid growth of previous years has moderated, the market remains stable and poised for continued growth. This suggests a healthy real estate environment in our local market
Diverse Market Dynamics: The answer to “how’s the market” truly depends on what part of the market you are looking at The following report shows how diverse our market is depending on which city, price range, or even home type (resale vs new construction) you’re looking at
Opportunities for Buyers and Sellers: Depending on the city and property type, there are opportunities for both buyers and sellers. Sellers may find advantages in certain areas with low inventory, while buyers may benefit from negotiating power in others with higher inventory levels
Importance of Data-Driven Decisions: At Windermere, we believe knowledge is power, and in understanding the complexities of our local market, we can better help you navigate it to a more optimized outcome.
Insider Highlights
AVERAGE SALE PRICES
RESALE VS NEW CONSTRUCTION
MONTHS OF INVENTORY STEADY GROWTH AND STABILIZATION
MARKET SNAPSHOT
Questions You May Want to Dive Deeper Into with Your Windermere Realtor:
How do current market conditions align with my goals?
What are the best strategies for navigating the current market as a buyer or seller in light of recent trends and forecasts? What are the long-term implications of these market trends, and how should I position myself for future opportunities?
Annual Home Appreciation in Tri-Cities, WA:
A Shift Towards Stability
In 2025, Tri-Cities homes have appreciated by 2.2%, continuing the pattern of consistent growth over the past several years. This increase reflects a healthy and sustainable pace of appreciation, building on the stability established after the rapid market shifts of previous years.
Since 2005, home prices in our region have appreciated by roughly 175%, averaging 4.5% annual growth, a strong indicator of long-term market strength and resilience. This consistent upward trend demonstrates that the Tri-Cities market remains one of the most balanced and dependable housing markets in Washington.
Average Sale Prices Year to Date: A
Strong Growth in 2022: The market saw notable appreciation in 2022, with prices reaching some of the highest levels in recent years. This period reflected strong buyer demand and limited inventory, resulting in a highly competitive environment.
Moderation in 2023: In 2023, average sale prices eased slightly, representing a natural market correction after the rapid gains of 2021 and 2022 This moderation brought healthier balance between buyers and sellers while maintaining steady overall demand.
Renewed Growth in 2024: The market regained upward momentum in 2024, as prices increased again and confidence returned. Buyer activity remained consistent, supported by stable interest rates and ongoing relocation demand within the region.
Positive Outlook for 2025: As of the third quarter of 2025, average sale prices have continued to climb, showing a 2.2% increase year-to-date. This continued rise highlights the market’s durability and ongoing appeal for both buyers and sellers, as the Tri-Cities maintains its reputation for steady, sustainable growth.
These trends help shape our understanding of the market's trajectory and offer valuable insights for buyers and sellers as we move into 2025's third quarter. By staying informed, we can make well-rounded decisions in a healthy and evolving market.
New Construction vs. Resale Homes
Trends and Insights:
Stable Demand for Resale Homes: Resale homes continue to lead the market, reflecting strong and consistent buyer demand for established neighborhoods and move-in-ready properties These homes often provide greater character, mature surroundings, and competitive price points compared to new construction, making them a reliable choice for many buyers across the Tri-Cities.
Strong Appeal of New Construction: New construction homes remain a vital part of the market, maintaining a steady share of total sales. Ongoing demand for modern floor plans, energy-efficient features, and the ability to personalize finishes continues to attract buyers seeking a fresh start in newly built communities. Builders have adapted well to changing market conditions, keeping inventory levels balanced with buyer needs.
Balanced Market Dynamics: The Tri-Cities housing market continues to show balance between resale and new construction, providing a wide range of opportunities for today’s buyers and sellers. Whether drawn to the established charm of existing homes or the modern appeal of new builds, residents benefit from a diverse and resilient market that continues to demonstrate stability and long-term strength
This page provides a year-over-year comparison of the residential real estate market across our four cities The tables illustrate the market snapshots for both this year and last, highlighting key metrics such as the number of homes sold, median sales price, and average time on market. The table below summarizes the yearover-year percentage changes in price for each location.
Building Trust Through Transparency: Understanding Tri-Cities' Real Estate Market
In the ever-changing landscape of real estate, it's crucial to have a reliable source of information you can trust. Here in the Tri-Cities area, we pride ourselves on delivering accurate, hard facts about our local market to keep you informed and empowered
