The market for 1 story homes for sale in the Tri-cities is experiencing steady movement in both active and sold listings, with February 2025 showing a significant drop in sales activity. However, with only the first 10 days of February recorded, this early data suggests a potential slowdown in market momentum.
Buyers and sellers should take note of the changing market conditions, particularly the growing gap between active listings and sold homes in each city.
Active vs. Sold Listings: What’s Changing?
Examining how many homes are being listed versus how many are selling provides critical insight into market shifts. A widening gap between active listings and sold homes may indicate that properties are staying on the market longer or that demand is weakening.
Total Listings Across Tri-Cities (All 4 Cities Combined)
- November 2024: 91 new listings, 85 homes sold (93% of new listings sold).
- December 2024: 77 new listings, 79 homes sold (103% of new listings sold).
- January 2025: 100 new listings, 74 homes sold (74% of new listings sold).
- February 2025 (First 10 Days): 21 new listings, 11 homes sold (52% of new listings sold).
The percentage of new listings that result in a sale has steadily declined, from 93% in November to just 52% in early February. This suggests that homes are taking longer to sell, and demand is softening.
City-Level Breakdown: Listings vs. Sales
Kennewick: Sales Declining Faster Than Listings
- November: 29 listed, 27 sold (93%)
- December: 24 listed, 30 sold (125%)
- January: 38 listed, 20 sold (53%)
- February (First 10 Days): 10 listed, 3 sold (30%)
Trend: Kennewick has one of the sharpest drops in sales activity, with only 30% of newly listed homes selling in February, compared to 125% in December when demand outpaced new listings.
Richland: Market Pauses With Few New Listings
- November: 27 listed, 24 sold (89%)
- December: 13 listed, 13 sold (100%)
- January: 22 listed, 20 sold (91%)
- February (First 10 Days): 2 listed, 4 sold (200%)
Trend: Richland saw a dramatic slowdown in new listings in February, with only two new homes entering the market. However, sales remain steady relative to available inventory, indicating some pent-up demand despite the slowdown.
Pasco: Sales Nearly Stalled in February
- November: 31 listed, 23 sold (74%)
- December: 33 listed, 29 sold (88%)
- January: 34 listed, 28 sold (82%)
- February (First 10 Days): 7 listed, 1 sold (14%)
Trend: Pasco has seen one of the most extreme slowdowns, with sales dropping from 28 in January to just 1 so far in February. Buyer activity has nearly halted, leading to growing inventory.
West Richland: Holding Steady but Limited Inventory
- November: 4 listed, 5 sold (125%)
- December: 7 listed, 4 sold (57%)
- January: 6 listed, 6 sold (100%)
- February (First 10 Days): 2 listed, 3 sold (150%)
Trend: West Richland has low overall volume, but the number of sales remains close to new listings. Inventory remains tight, and sales are relatively stable compared to other cities.
Key Takeaways: What This Means for Buyers and Sellers
For Sellers:
- Fewer homes are selling compared to new listings, meaning sellers should be prepared for longer market times.
- Pricing strategically is more important than ever, as buyer demand is slowing.
For Buyers:
- More homes are staying on the market, providing more choices than a few months ago.
- Sellers may become more flexible on pricing, presenting an opportunity for negotiation.
Final Thoughts
The Tri-Cities market for 1-story homes is showing a clear slowdown, with fewer homes selling relative to the number of new listings. February’s early numbers indicate a potential shift in market conditions, where sellers may face longer wait times, and buyers could gain more negotiating power.