Tri-Cities Insider Your Current Real Estate Market 1
Go to: http://grouponetricities.com click on this logo to view market info each month. 2
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Yearly Comparisons- Real Trends July/June 2015 Housing Market Report (Versus same month a year ago) July 2015 Closed Sales July 2015 Avg Price June 2015 Closed Sales June 2015 Avg Price National +13.2% + 2.4% +15.3% +4.0% Regional Report Northeast + 9.4% -3.5% +12.5% +4.7% South +14.1% + 4.5% + 14.4% +2.9% Midwest +14.6% + 3.1% +16.7% +0.8% West +13.4% + 5.2% +17.8% +5.9% *Info obtained from Real Trends Go to: http://grouponetricities.com click on this logo to view market info each month. 4
Information obtained from local Tri-City Association of REALTORS MLS Windermere Group One 490 Bradley Blvd. Richland, WA 99352 West Richland 372 9% Sales Kennewick 1674 40% Richland 1085 26% Kennewick Pasco Richland West Richland Go to: Pasco 1068 25% http://grouponetricities.com click on this logo to view market info each month. 5
Information obtained from Local Tri-City Association of Realtors Windermere Group One 490 Bradley Blvd. Richland, WA 99352 Average Days on Market by Neighborhood Neighborhood Days on Market- Year to Date - September 30, 2015 Kennewick - Central 47 East 76 Southeast 49 Southwest 62 West 45 Pasco - Central 57 East 21 North 74 West 37 Richland - Central 37 North 31 South 57 Horn Rapids 80 West Richland 33 6
Residential Market Snapshot for the Tri-Cities 2015 Year to Date (September) 900 800 700 600 500 400 300 Active Listings Total Sold Average Sold $ Median Sold $ Under Contract 200 100 0 JAN FEB MAR APR MAY JUNE *JULY *AUG SEPT OCT NOV DEC Active Listings 898 878 854 815 847 832 822 825 829 Total Sold 205 247 325 360 387 416 466 386 358 Average Sold $ $225.9 $210.7 $204.1 $218.5 $223.5 $230.5 $226.8 $229.4 $227.5 Median Sold $ $191.5 $190.0 $184.9 $209.2 $197.0 $211.9 $203.5 $205.8 $201.6 Under Contract 284 340 478 447 423 398 396 390 369 Information obtained from local Tri-City Association of REALTORS MLS 7
$300,000 $250,000 $219,699 $246,973 $264,680 $200,000 $150,000 $100,000 $203,077 Kennewick Pasco Richland $50,000 West Richland $0 2011 2012 2013 2014 2015 Information obtained from local Tri-City Association of REALTORS MLS Go to: http://grouponetricities.com click on this logo to view market info each month. 8
Yearly Average Residential Sales Price for the Tri-Cities Year to Date () (areas include: Kennewick, Pasco, Richland, West Richland, Finley, Burbank, Benton City) Tri-Cities $225,000 $223,953 $220,000 $215,000 $209,564 $211,744 $210,000 $205,000 $201,186 $202,416 $200,000 $195,000 $190,000 $185,000 2011 2012 2013 2014 2015 Information obtained from local Tri-City Association of REALTORS MLS Go to: http://grouponetricities.com click on this logo to view market info each month. 9
$300,000-$324,999, 40 $325,000-$349,999, 39 $0-$99,999, 38 $100,000-$124,999, 25 $275,000-$299,999, 83 $125,000-$149,999, 40 $150,000-$174,999, 35 $175,000-$199,999, 57 $250,000-$274,999, 60 $200,000-$224,999, 55 $225,000-$249,999, 78 Information obtained from local Tri-City Association of REALTORS MLS 10 See all local open houses at: http://grouponeopenhouses.com
$600,000-up, 42 $350,000-$374,999, 37 $550,000-$599,999, 19 $375,000-$399,999, 51 $500,000-$549,999, 20 $400,000-$424,999, 19 $475,000-$499,999, 25 $450,000-$474,999, 15 $425,000-$449,999, 29 Information obtained from local Tri-City Association of REALTORS MLS 11 See all local open houses at: http://grouponeopenhouses.com
$250,000-$274,999, 22 $275,000-$299,999, 21 $300,000-$324,999, 11 $325,000-$349,999, 7 $0-$99,999, 19 $100,000-$124,999, 15 $125,000-$149,999, 36 $225,000-$249,999, 31 $200,000-$224,999, 28 $150,000-$174,999, 39 $175,000-$199,999, 57 Information obtained from local Tri-City Association of REALTORS MLS 12 See all local open houses at: http://grouponeopenhouses.com
$500,000-$549,999, 2 $550,000-$599,999, 2 $600,000 - up, 1 $475,000-$499,999, 3 $350,000-$374,999, 10 $450,000-$474,999, 0 $425,000-$449,999, 5 $400,000-$424,999, 3 Information obtained from local Tri-City Association of REALTORS MLS $375,000-$399,999, 9 13 See all local open houses at: http://grouponeopenhouses.com
$275,000-$299,999, 22 $250,000-$274,999, 17 $300,000-$324,999, 16 $325,000-$349,999, 13 $0-$99,999, 20 $100,000-$124,999, 14 $125,000-$149,999, 37 $225,000-$249,999, 33 $200,000-$224,999, 36 Information obtained from local Tri-City Association of REALTORS MLS $175,000-$199,999, 50 $150,000-$174,999, 48 14 See all local open houses at: http://grouponeopenhouses.com
$500,000-$549,999, 2 $475,000-$499,999, 1 $550,000-$599,999, 0 $600,000 - up, 4 $350,000-$374,999, 8 $450,000-$474,999, 2 $425,000-$449,999, 7 $375,000-$399,999, 9 $400,000-$424,999, 11 Information obtained from local Tri-City Association of REALTORS MLS 15 See all local open houses at: http://grouponeopenhouses.com
40 35 30 25 20 15 10 5 0 26 39 36 34 33 26 22 20 2 1 1 1 13 31 1 26 29 24 23 17 11 8 29 22 15 16 12 10 2 2 2 1 1 1 9 Active Listings Sold During Time Period Months of Inventory 6 7 6 4 4 3 2 11 1 1 1 16 See all local open houses at: http://grouponeopenhouses.com
Information obtained from local Tri-City Association of REALTORS MLS Windermere Group One 490 Bradley Blvd. Richland, WA 99352 New Construction Sales 581 Total Sales - 3022 1000 900 800 965 700 650 615 600 500 400 New Construction Resale 300 200 100 113 249 148 71 211 0 Richland Kennewick Pasco West Richland 17 See all local open houses at: http://grouponeopenhouses.com
250 250 200 150 173 150 New Construction Resale 100 50 58 66 37 35 0 Richland Kennewick Pasco West Richland Information obtained from local Tri-City Association of REALTORS MLS 6 18 See all local open houses at: http://grouponeopenhouses.com
Monthly Market Activity: 19
Housing Market Snapshot by County- 2nd Quarter 2015 SAAR %Change Building Permits Median Resale $ HAI* First-Time HAI Home Re-sales last Qtr Year Ago # % Change Year Ago $ % Change Year Ago Benton 2,330 - - 317 50.2% $218,700 17.6% 173.1 113.9 Franklin 780 - - 118 1.7% $218,700 17.6% 173.1 66.1 Statewide 94,550 10.7 8.9 7,555 3.8% $289,300 9.5% 143.1 81.0 Source: Runstad Center for Real Estate Research, University of Washington 1. Home Re-sales are Runstad Center estimates based on MLS reports or deed recording. 2. SAAR means data presented at Seasonally Adjusted Annual Rates allowing quarter-to-quarter comparison. 3. Building permits (total) are from the U.S. Department of Commerce, Bureau of the Census. 4. Median prices are Runstad Center estimates. Half the homes sold at higher prices, half lower. 5. Affordability index measures the ability of a typical family to make payments on median price resale home. It assumes 20% down payment and 30-year amortizing mortgage. First-time buyer affordability index assumes a less expensive home, lower down payment and lower income. *Housing Affordability Index 20