If you’re thinking about buying or selling a home in Kennewick, keeping an eye on market trends can help you make the best decision. Over the past 12 months, real estate activity in the area has shifted, affecting both buyers and sellers. Let’s dive into the numbers and explore what’s changed, what’s happening now, and what this means for anyone looking to enter the market.
Total Listings: A Changing Market
One of the biggest shifts in the Kennewick housing market has been the number of homes available for sale. Over the past 12 months, 492 single-story homes were listed, averaging about 1.35 new listings per day. That’s a steady flow of homes entering the market, but things have changed in recent months.
- Year to Date (YTD): So far in 2025, only 83 homes have been listed, averaging 1.26 per day—a small drop from the 12-month trend.
- Last Full Month (February 2025): In February, 38 homes were listed, which translates to 1.36 per day—a bit higher than the YTD but lower than last year’s average.
- Current Month (March 2025): So far, only 8 homes have hit the market, averaging just 1.14 per day. This decline could be a sign of tighter inventory.
What This Means
The decline in new listings suggests that the market is tightening. Fewer homes available means increased competition, which often leads to higher prices and quicker sales. If you’re a seller, this could be a great time to list, as buyers have fewer options to choose from. If you’re a buyer, it’s crucial to act fast when a home you like comes on the market.
Comparing Market Trends Over Different Timeframes
Looking at the 12-month, YTD, last full month, and current month data, it’s clear that the market has slowed. The steady listing rate over the past year has given way to a notable drop in new inventory this year. This shift means that sellers hold more power right now, as fewer homes are available, increasing demand for well-priced properties.
Price Trends: Asking Price vs. Selling Price
Let’s talk numbers. Are homes selling for what they’re listed for? Here’s what the data tells us:
- 12-Month Trend: The average original listing price was $447,335, while the final sales price averaged $437,118. The median listing price was $414,900, with a median final price of $405,000.
- YTD (2025): The average listing price so far in 2025 is $446,763, and the final price is $444,408—showing that sellers are getting very close to their asking price.
- Last Full Month (February 2025): The average listing price was $459,226, and the final price was $458,068—an even smaller gap than the YTD trend.
- Current Month (March 2025): Listings so far have averaged $465,194, and the final sale prices have averaged $416,914.
What This Means
Over the past year, sellers had to accept slightly lower offers, but in recent months, that gap has almost disappeared. This indicates a strong seller’s market, where buyers are willing to pay close to the asking price due to limited inventory.
Buyer and Seller Scores: Who Holds the Power?
One of the most useful indicators of market conditions is the buyer and seller scores, which show who has more leverage.
- 12-Month Buyer Score: 2.5 (Weaker for buyers)
- 12-Month Seller Score: 7.5 (Strong for sellers)
- YTD Buyer Score: 1.4 (Even worse for buyers)
- YTD Seller Score: 8.6 (Even stronger for sellers)
- Last Full Month Buyer Score: 1.9 (Similar to the 12-month trend)
- Last Full Month Seller Score: 8.1 (Still strong for sellers)
- Current Month Buyer Score: 2.6 (Still low for buyers)
- Current Month Seller Score: 7.4 (Sellers have nearly all the power)
What This Means
Sellers are in control. The lower the buyer score and the higher the seller score, the harder it is for buyers to negotiate. With limited inventory, buyers must act quickly and make strong offers. For sellers, this means you can likely get top dollar for your home with fewer concessions.
Days on Market: How Fast Are Homes Selling?
Another critical factor in understanding the market is how quickly homes are selling.
- 12-Month Average DOM: 46 days
- 12-Month Median DOM: 22 days
- YTD Average DOM: 19 days
- YTD Median DOM: 9 days
- Last Full Month Average DOM: 16 days
- Last Full Month Median DOM: 10 days
- Current Month Average DOM: 2 days
- Current Month Median DOM: 2 days
What This Means
Homes are selling much faster than they did a year ago. While the average time on the market was 46 days last year, homes now sell in as little as 2 days in March 2025. This is a clear sign that the market is highly competitive, and buyers need to be prepared to move quickly.
Key Takeaways for Buyers and Sellers
For Sellers:
It’s a great time to sell! Inventory is low, and homes are selling quickly, often at or near asking price. You hold the negotiating power. With strong seller scores and homes selling fast, you can be firm on price and terms. Price your home competitively. While buyers are eager, a well-priced home will sell even faster, potentially with multiple offers.
For Buyers:
⚠ Be ready to act fast. Homes are selling in just days, so have your finances in order and be ready to make an offer quickly. ⚠ Expect competition. You may face multiple offers, so consider offering slightly above asking price if you really want a home. ⚠ Know your limits. It’s easy to get caught up in a bidding war, but make sure your offer aligns with your budget.
Final Thoughts
The Kennewick real estate market is moving fast, and conditions are in favor of sellers. The total number of listings has dropped, prices are holding steady, and homes are selling quicker than ever. If you’re thinking about selling, now is a great time to capitalize on strong demand. If you’re a buyer, be prepared to move fast and make competitive offers.
Need expert guidance? Reach out to a trusted Tri-Cities Realtor who can help you navigate this dynamic market!