Kennewick remains a key player in the Tri-Cities housing market, with recent price trends reflecting shifting buyer and seller dynamics. Whether you are looking to buy or sell, understanding how listing prices, final sales prices, and price per square foot are evolving can help you make informed decisions.
This analysis compares January 2025 (last full month) and February 2025 (current month) data to provide a clear picture of pricing trends in Kennewick.
Kennewick Pricing Trends: January vs. February 2025
Average Listing Price
- January 2025: $530,701
- February 2025: $495,497
Key Takeaway: The average listing price decreased by 6.6%, suggesting sellers are pricing homes more competitively to attract buyers.
Median Listing Price
- January 2025: $486,850
- February 2025: $493,850
Key Takeaway: The median listing price increased slightly by 1.4%, meaning while the overall price range has softened, mid-range homes are holding their value well.
Final Sold Price (Average)
- January 2025: $466,604
- February 2025: $692,887
Key Takeaway: The average final sold price surged by 48.4%, indicating that higher-end homes are selling more aggressively this month or that buyers are paying premiums for the most desirable properties.
Final Sold Price (Median)
- January 2025: $469,900
- February 2025: $661,492
Key Takeaway: The median final sold price jumped by 40.7%, reinforcing the trend that buyers are competing for higher-value properties in February compared to January.
Price Per Square Foot Trends
Average Price Per Square Foot
- January 2025: $271.83
- February 2025: $275.13
Key Takeaway: The average price per square foot increased slightly by 1.2%, meaning homes are maintaining strong price levels relative to size.
Median Price Per Square Foot
- January 2025: $277.07
- February 2025: $273.18
Key Takeaway: The median price per square foot decreased by 1.4%, suggesting that some sellers are making minor concessions to close deals.
What This Means for Buyers and Sellers
For Buyers:
- Higher-end homes are in demand, leading to increased competition.
- Sellers have become more aggressive with pricing, but final sales prices are rising.
- Well-priced homes are moving quickly, so buyers need to be prepared to act fast and make competitive offers.
For Sellers:
- Buyers are paying more for desirable homes, particularly in the upper price ranges.
- Listing prices have decreased slightly, but homes are still selling at strong final prices.
- Accurate pricing will be key—homes that are priced correctly will sell quickly, while overpriced homes may sit on the market.
Final Thoughts: Are Kennewick Prices Going Up or Down?
Kennewick is experiencing a unique price shift. While listing prices are slightly down, final sold prices have increased dramatically, particularly in February. This suggests that buyers are making stronger offers on high-demand homes, creating a competitive environment.
If you are considering buying or selling in Kennewick, understanding these price trends will help you navigate the market effectively.
Need Help Navigating the Market?
For expert guidance on buying or selling your home in Kennewick, reach out to ryan@kenmoreteam.com or call 509.987.4544. Knowing when and how to enter the market can make a significant difference in getting the best deal.
This analysis provides a data-driven perspective on Kennewick’s pricing trends in early 2025. Let me know if you need any refinements.