How Have Total Listings Changed Over the Past 12 Months?
- Past 12 Months: 390 total listings (1.07 listings per day).
- January 2025: 38 new listings (1.23 listings per day).
- February 2025 (to date): 10 new listings (0.36 listings per day).
Insight:
- Kennewick’s inventory has declined, with fewer new listings entering the market.
- February’s activity is down significantly from both January 2025 and the 12-month average.
- Lower supply could increase competition among buyers in the coming months.
Market Trends & Key Insights
1. Homes Are Spending Less Time on the Market
- Past 12 Months: Average 42 DOM, median 18 DOM.
- January 2025: Average 19 DOM, median 10 DOM.
- February 2025 (to date): Average 11 DOM, median 5 DOM.
Insight:
Kennewick homes are selling faster than ever—with the median days on market down to just 5 days in February. Buyers must act quickly in this highly competitive market.
2. Pricing Trends Show Strength
- Past 12 Months:
- Average listing price: $434,058
- Average final sale price: $424,970
- January 2025:
- Average listing price: $426,953
- Average final sale price: $428,385
- February 2025 (to date):
- Average listing price: $421,990
- Average final sale price: $379,000
Insight:
- Kennewick’s home prices remain stable, though February’s average final price is lower than previous months.
- Homes are still selling close to asking price, reflecting a healthy level of demand.
3. Buyer & Seller Market Shifts
- Past 12 Months:
- Buyer Score: 2.8 (favoring sellers)
- Seller Score: 7.2 (strong seller’s market)
- February 2025 (to date):
- Buyer Score: 4.7
- Seller Score: 5.3
Insight:
- The market is shifting slightly toward buyers, with the lowest seller score seen in recent months.
- Buyers may have more negotiating power, though the market still favors sellers overall.
What This Means for Buyers & Sellers
Sellers:
- Low inventory still works in your favor, though pricing competitively is key.
- Homes are selling quickly, so be prepared for fast offers.
Buyers:
- Competition is high for well-priced homes, so act fast when you find the right one.
- More room for negotiation as the market begins to balance.
Final Thoughts
Kennewick’s 1-story home market remains strong, but trends are shifting.
- Homes are selling faster than before.
- Inventory is shrinking, meaning fewer options for buyers.
- Pricing remains stable, but February shows some softening.
Whether you’re buying or selling, it’s crucial to stay ahead of market changes. Working with a local expert can help you navigate this evolving market.