A key factor in real estate market trends is the balance between new listings and homes sold each month. When more homes are listed than sold, inventory grows, potentially creating a buyer’s market with more choices and negotiating power. Conversely, if sales outpace new listings, inventory shrinks, leading to a seller’s market where competition drives up prices.
This analysis looks at West Richland, Richland, Pasco, and Kennewick, comparing how the number of homes sold stacks up against new listings over the past four months and what that means for the current market.
New Listings vs. Homes Sold (Last Four Months)
| City | Feb 2025 (MTD) | Jan 2025 | Dec 2024 | Nov 2024 | 4-Month Trend |
|---|---|---|---|---|---|
| West Richland | 1 new / 3 sold | 13 new / 14 sold | 17 new / 9 sold | 16 new / 10 sold | Sales exceeding new listings |
| Richland | 3 new / 4 sold | 46 new / 32 sold | 24 new / 34 sold | 49 new / 42 sold | Balanced, slight excess inventory |
| Pasco | 4 new / 0 sold | 58 new / 34 sold | 41 new / 44 sold | 44 new / 39 sold | Listings exceeding sales |
| Kennewick | 5 new / 2 sold | 73 new / 48 sold | 44 new / 65 sold | 55 new / 64 sold | Listings exceeding sales |
Key Takeaways
- West Richland is experiencing a shrinking inventory
- In three of the past four months, more homes have sold than new listings coming to market.
- This means inventory is tightening, making it a strong seller’s market with limited options for buyers.
- Richland remains relatively balanced
- New listings and sales are closely aligned, meaning inventory is stable.
- Buyers and sellers are on a more level playing field, with neither having a distinct advantage.
- Pasco and Kennewick are shifting toward a buyer’s market
- In the past three months, new listings outpaced sales, leading to an increase in available homes.
- This means buyers have more choices and negotiation power, especially in February, where Pasco has had new listings but no recorded sales yet.
What This Means for Buyers and Sellers
For buyers:
- West Richland has limited options and high competition. Be prepared to act fast and make strong offers.
- Pasco and Kennewick offer more choices, and buyers may have more leverage in negotiations.
- Richland is steady, meaning buyers should expect fair market conditions without extreme competition or excessive inventory.
For sellers:
- West Richland remains a strong market for sellers, with more homes being sold than listed, keeping demand high.
- Richland sellers should price competitively, as supply and demand are relatively balanced.
- Pasco and Kennewick sellers should be mindful of growing inventory levels, which could lead to longer days on market or the need for price adjustments.
Final Thoughts
The Tri-Cities real estate market is showing distinct trends, with West Richland remaining a seller’s market, Richland staying balanced, and Pasco and Kennewick shifting toward buyer-friendly conditions.
If you’re looking to sell quickly and competitively, West Richland is your best bet. If you’re buying, Pasco and Kennewick offer more opportunities and negotiation power.
For expert guidance on navigating the current market, reach out to ryan@kenmoreteam.com or call 509.987.4544.