Richland, known for its scenic beauty and strong local economy, has been a steady player in the Tri-Cities new construction real estate market. However, recent data suggests a clear shift toward a seller’s market, with homes selling faster and buyer negotiating power decreasing.
By analyzing data from the past 12 months, year-to-date (YTD), the last full month, and the current month, we can uncover emerging trends in home prices, market activity, and days on market. With buyer and seller scores, we’ll explore what this means for buyers and sellers in Richland.
Market Overview: A Year in Review
Over the past 12 months, Richland saw 301 new listings, averaging 1.2 new listings per day. During the same period, 146 homes sold, equating to one sale every 2.5 days.
Pricing Trends
- Average Listing Price: $607,420
- Median Listing Price: $596,448
- Final Sold Price (Avg.): $614,549
- Final Sold Price (Median): $599,900
- Price per Sq. Ft. (Avg.): $284.03
Days on Market (DOM)
- Average DOM: 139 days
- Median DOM: 97 days
- Maximum DOM: 1,306 days
Market Conditions
- Buyer Score: 4.5 (A slightly balanced market with a buyer edge)
- Seller Score: 5.5 (Indicating sellers still held leverage)
Key Takeaway: Despite a near balance between buyer and seller strength, homes sat on the market longer than in nearby cities.
Year-to-Date: Richland’s 2025 Market Performance
So far in 2025, 52 new listings have hit the market, translating to one new listing per day. Meanwhile, 20 homes have sold, meaning one sale every 2.6 days.
Year-to-Date Buyer & Seller Scores
- Buyer Score: 4.9
- Seller Score: 5.1
This shows a shift toward a more neutral market, where neither buyers nor sellers have a clear advantage. However, comparing this with the previous year’s trends, seller power is increasing.
Last Full Month: January 2025 Market Insights
In January 2025, Richland had 27 new listings, averaging 1.1 new listings per day. Meanwhile, 11 homes sold, translating to one sale every 2.8 days.
Price Trends
- Average Listing Price: $533,476
- Median Listing Price: $505,000
- Final Sold Price (Avg.): $538,410
- Final Sold Price (Median): $559,900
Days on Market
- Average DOM: 133 days
- Median DOM: 33 days
Buyer & Seller Scores
- Buyer Score: 4.9
- Seller Score: 5.1
Market Takeaway: January remained a balanced market, but homes sat on the market longer than in February, suggesting momentum was shifting.
Current Month: February 2025 Trends
February marks a clear shift toward sellers. So far, 25 new listings have entered the market, averaging 1.19 new listings per day. Meanwhile, 9 homes have sold, meaning one sale every 2.3 days.
Price Trends
- Average Listing Price: $519,818
- Median Listing Price: $484,847
- Final Sold Price (Avg.): $591,602
- Final Sold Price (Median): $589,900
Days on Market
- Average DOM: 9 days
- Median DOM: 5 days
Buyer & Seller Scores
- Buyer Score: 4.3
- Seller Score: 5.7
Key Insight: February marks a seller’s market. Homes are selling faster, prices are rising, and buyers have less negotiating power.
Key Market Trends and What They Mean for You
1. Homes Are Selling Faster
- January’s average DOM: 133 days → February’s average DOM: 9 days
- January’s median DOM: 33 days → February’s median DOM: 5 days
Homes are moving nearly 15x faster in February compared to January.
What this means: If you’re a seller, the market is hot, and buyers are moving fast. Now is an excellent time to list.
2. Buyer Advantage is Shrinking
- January Buyer Score: 4.9 | Seller Score: 5.1
- February Buyer Score: 4.3 | Seller Score: 5.7
The market is shifting toward sellers.
What this means: Buyers need to act fast and submit strong offers to stay competitive.
3. Prices Are Increasing
- February’s average final price ($591,602) is higher than January’s ($538,410)
- Median final price also increased from $559,900 to $589,900
- Sellers are negotiating less on price
What this means: If you’re a buyer, expect to pay closer to asking prices.
4. Fewer Listings Are Available
Richland’s new listing rate has slowed slightly, with only 25 so far this month.
What this means: Buyers will face more competition for fewer homes.
Final Thoughts: What Should You Do Next?
For Sellers:
- Now is an ideal time to list. Homes are selling faster, with higher prices and fewer negotiations.
- Price competitively to attract multiple offers.
For Buyers:
- Be prepared to act fast. Homes are moving in single-digit days on market.
- Get pre-approved and come in strong with an offer.
- Expect higher competition—Richland’s market is heating up.
Looking Ahead
With February’s numbers favoring sellers, Richland could see increased demand and rising prices in the coming months.
If you’re planning to make a move, now is the time to act.
Need Help?
For expert guidance on buying or selling in Richland, reach out to ryan@kenmoreteam.com or call 509.987.4544. Working with professionals will help you navigate this competitive market.