Analysis of Listing Prices, Sale Prices, and Price Per Square Foot (365 to 30 Days)
Pricing trends are among the most reliable indicators of market behavior. This report reviews original listing prices, final sale prices, and price per square foot to identify shifts in seller strategy, buyer willingness, and perceived home value across multiple periods.
We use timeframes of 365 days, 180 days, 90 days, and March 2025 (30 days) to show how the market has evolved over time.
1. Average and Median Original Listing Prices
| Timeframe | Avg. List Price | Median List Price | Trend |
|---|---|---|---|
| 365 Days | $610,001 | $599,375 | Baseline |
| 180 Days | $583,930 | $582,425 | Decreased |
| 90 Days | $572,856 | $563,825 | Decreased |
| 30 Days (Mar) | $601,770 | $593,950 | Rebounded |
Insights:
- There was a consistent decrease in listing prices from the 365-day to 90-day window, suggesting possible adjustments to meet demand or price sensitivity.
- In March 2025, both average and median listing prices rebounded close to 12-month highs, signaling a return of confidence among sellers or improved home features being listed.
- The listing price recovery in March aligns with rising inventory, suggesting builders felt justified in pricing homes higher as buyer activity increased.
2. Average and Median Final Sales Prices
| Timeframe | Avg. Sale Price | Median Sale Price | % Difference from List | Trend |
|---|---|---|---|---|
| 365 Days | $609,890 | $595,000 | ~0.02% below | Stable |
| 180 Days | $583,069 | $573,528 | ~0.15% below | Slight decline |
| 90 Days | $572,977 | $563,825 | ~0.02% above | Slight increase |
| 30 Days (Mar) | $601,770 | $593,950 | 0.00% difference | Pricing fully met |
Insights:
- Over the long term, homes have consistently sold at or near their original list prices, reflecting a well-priced market with low negotiation.
- In the 90-day period, homes began selling slightly above list price, and in March, there was zero difference between average list and sale price.
- These indicators point to a tightening market, where buyers are agreeing to asking prices and sellers are confident in their value assessments.
3. Price Per Square Foot Trends (Sold Homes Only)
| Timeframe | Avg. Price/Sq. Ft. | Trend |
|---|---|---|
| 365 Days | $279.81 | Baseline |
| 180 Days | $285.60 | Increased |
| 90 Days | $286.39 | Slight increase |
| 30 Days (Mar) | $288.97 | Continued increase |
Insights:
- Over the past four time periods, the price per square foot has steadily increased, reflecting strong buyer demand and rising perceived value in new construction homes.
- From $279.81 to $288.97, this increase of approximately 3.3 percent over the past year is modest but meaningful, especially when combined with stronger price alignment and decreased negotiation margins.
- This trend suggests buyers are willing to pay more per square foot for modern builds and newer features, particularly as older inventory phases out and newer models dominate.
4. Price Alignment and Market Implications
| Timeframe | Price Match Quality | Notes |
|---|---|---|
| 365 Days | Excellent | Homes sold at 99.98% of original list price |
| 180 Days | Strong | Homes sold at 99.85% of original list price |
| 90 Days | Strong | Homes sold at 100.02% of original list price |
| 30 Days (Mar) | Perfect | Exact match between original and final prices |
Interpretation:
- Richland’s new construction market has maintained high pricing integrity, with extremely small variances between asking and closing prices.
- The absence of discounting in March further confirms that sellers are confident, buyers are motivated, and pricing strategies are working.
- Combined with the rise in price per square foot, the market is likely responding to strong buyer demand for new, move-in-ready homes.
Summary of Price Trends
- Original list prices decreased through the winter, then rebounded sharply in March.
- Final sale prices remained strong across all periods, consistently at or above listing levels.
- Price per square foot increased steadily, showing upward momentum in perceived home value.
- Seller pricing strategies are proving accurate, with full-price closings now the norm.
Final Thoughts
The data reflects a tight and well-calibrated pricing environment in Richland’s new construction market. Builders and sellers have demonstrated excellent pricing discipline, and buyers are affirming that pricing with strong offer behavior.
For buyers, this means understanding that the days of deep negotiation are currently limited. Homes are priced to sell and often close at full asking price or better.
For sellers, especially builders, the current climate validates higher pricing if homes are move-in ready and competitively featured. Pricing strategy remains crucial, but the data supports upward adjustments in line with demand.
This pricing performance provides a strong foundation heading into the spring and summer markets. If listing and sales volumes continue at current levels, further price growth—especially per square foot—may follow.