The market for 2-story homes in Canyon Lakes, Kennewick, has shown strong seller-driven trends, with steady sales and increasing prices. Whether you’re considering buying or selling, understanding these market shifts can help you make informed real estate decisions. Let’s break down the latest data on pricing, sales activity, and market conditions.
Market Activity: Listings & Sales Trends
Past 12 Months:
- 18 total listings, averaging one new listing every 20.3 days.
- 12 homes sold, meaning a sale occurred approximately every 30.4 days.
- Homes spent an average of 64 days on the market, with a median of 51 days, making 2-story homes a strong seller’s segment.
Recent Trends:
- In February 2025, 2 new listings were recorded, while 3 homes sold.
- In March 2025 (so far), 2 new listings have been recorded, with 1 sale completed.
- Homes in this segment are selling relatively quickly, indicating strong demand.
Pricing Trends: Are Home Values Holding Steady?
Listing Prices:
- Over the past year, the average original listing price was $599,972, with a median of $566,500.
- The lowest original listing price was $499,000, while the highest reached $825,000.
- More recently, February 2025 listings had an average price of $648,750, showing a noticeable upward trend.
Final Sale Prices:
- The average final sale price over the past year was $560,940, with a median of $545,000.
- The highest recorded final sale price was $710,000, while the lowest was $499,000.
- Homes in this category are selling for about 93.5% of their original listing price, indicating sellers still have the upper hand.
Price Per Square Foot:
- Over the past year, the average price per square foot was $230.95.
- The median price per square foot was $233.84, reflecting stable price trends.
- If demand continues to increase, price per square foot is expected to rise heading into the summer months.
Buyer & Seller Market Conditions
The market strength for buyers and sellers is measured using Buyer and Seller Scores:
- Over the past 12 months, the Buyer Score was 4.2, while the Seller Score was 5.8, indicating a moderate seller’s market.
- Recently, in February 2025, the Buyer Score dropped to 3.6, while the Seller Score rose to 6.4, reinforcing seller dominance.
- March’s Buyer Score is 4.9, showing a shift back toward market balance.
This means that sellers still hold an advantage, but buyers are gradually gaining more leverage as market conditions stabilize.
Key Takeaways for Buyers & Sellers
For Buyers:
- Homes are selling quickly, so acting fast on desirable listings is crucial.
- The market is still seller-favored, but trends indicate buyers may gain more room for negotiation in coming months.
- Price per square foot remains stable, making now a good time to buy before potential price increases.
For Sellers:
- 2-story homes continue to sell well, meaning pricing competitively can lead to quick sales.
- Homes are selling at about 93.5% of list price, so some negotiation flexibility is expected.
- Demand remains strong, but buyers are becoming more selective, making proper pricing and presentation essential.
Final Thoughts
The 2-story home market in Canyon Lakes remains seller-friendly, with rising home values and steady buyer interest. However, buyer demand is leveling out, meaning sellers need to strategically price their homes to maximize offers. Buyers should be prepared to act quickly on well-priced homes before demand shifts again.
For expert guidance, reach out to Ryan Rose at Kenmore Team for real estate insights and assistance in navigating this market.