As we move deeper into 2025, the Tri-Cities housing market continues to show momentum—especially in the existing construction sector. This update focuses on single-family homes that were listed and sold between January 1 and March 31, 2025 across Kennewick, Richland, Pasco, and West Richland.
By analyzing inventory levels, pricing, sales pace, and buyer-seller conditions, this summary reveals where the market stands and what that means for buyers and sellers in the months ahead.
Year to Date (2025)
- Total Homes on Market per Day: So far in 2025, the market has seen 611 new listings, averaging 6.71 new listings per day.
- Homes Sold per Day: A total of 455 homes sold, averaging 5 sales per day.
- Average and Median Prices:
- Original Listing Price: Average of $533,186, median of $474,900
- Final Sold Price: Average of $496,644, median of $443,000
- Buyer’s Score: 3.3
- Seller’s Score: 6.7
This data shows that demand has remained strong early in the year, with high seller leverage and continued buyer competition.
Market Highlights and Trends
Inventory and Sales Pace
With 611 homes listed and 455 sold, existing homes continue to move at a healthy pace. The gap between listings and sales is modest, indicating that homes are being absorbed efficiently. Buyers had more options at the start of the year, but sellers retained the upper hand due to strong demand and quick transactions.
Pricing and Affordability
- The average final sale price of $496,644 is slightly lower than the average list price of $533,186, showing an average price reduction of about 6.8%.
- The median sold price ($443,000) also came in below the median list price ($474,900), confirming that while sellers are still in control, buyers are negotiating more than they were in late 2024.
This makes early 2025 a time of moderate buyer opportunity, especially for those prepared to act quickly and make strong offers.
Days on Market
- Average DOM (sold homes): 61 days
- Median DOM: 38 days
Homes are selling relatively fast—over half are closing in just over a month. This reflects a stable but active market where buyers are ready and motivated.
Home Size and Price per Square Foot
- Average square footage (sold): 2,125 sq ft
- Median square footage: 1,923 sq ft
- Average price per square foot: $245.35
- Median price per square foot: $243.96
This shows consistent value in the existing home market, with a wide range of sizes and price points appealing to various buyer budgets.
Buyer and Seller Dynamics
- Buyer Score: 3.3 – Buyers face stiff competition and minimal leverage in most deals.
- Seller Score: 6.7 – Sellers are still in control, often seeing strong offers and shorter time on market.
Compared to the new construction market, which leans more neutral, the existing home market clearly favors sellers in early 2025.
Summary of Key Insights
- Strong Inventory: With over 600 new listings, buyers have solid choices—but need to act quickly.
- Steady Sales: The pace of 5 sales per day shows no signs of slowdown in buyer demand.
- Competitive Pricing: Price reductions exist but remain modest, reflecting firm seller expectations.
- Quick Turnaround: Homes are selling faster than national averages, especially when priced right.
- Seller Advantage: High seller scores indicate continued momentum on the listing side.
Final Thoughts
The existing construction market in the Tri-Cities has remained robust through the first quarter of 2025. Listings are strong, homes are selling quickly, and prices are holding steady with some room for buyer negotiation. This environment benefits sellers most, but motivated buyers can still find success with preparation and speed.