This 90-day review provides a focused lens on recent activity in Richland’s new construction, single-family home market. By comparing the last three months of data to the previous 180-day and 12-month periods, we can see how the market is shifting in real time.
The data includes homes built between 2022 and 2025 with no price or size restrictions. We assess inventory trends, sales pace, pricing behavior, days on market, and market leverage.
90-Day Market Snapshot
| Metric | Value |
|---|---|
| Total Listings | 98 |
| New Listings per Day | 1.09 |
| Total Homes Sold | 71 |
| Homes Sold per Day | 0.79 |
| Average Original Listing Price | $572,856 |
| Median Original Listing Price | $563,825 |
| Average Final Sales Price | $572,977 |
| Median Final Sales Price | $563,825 |
| Price Difference (% Avg.) | ~0.02% above list |
| Average Days on Market (DOM) | 85 |
| Median Days on Market (DOM) | 101 |
| Highest DOM | 447 days |
| Average Sq. Ft. (sold homes) | 1,992 sq. ft. |
| Average Price/Sq. Ft. (sold) | $286.39 |
Key Trends and Market Insights
Inventory and Listing Activity
There were 98 new listings over the last 90 days, equating to about 1.09 new homes per day. This is a slight increase from the 180-day average (0.99/day), showing a modest uptick in builder activity as the spring season approaches.
Sales Pace
During the same period, 71 homes sold, or about 0.79 sales per day—slightly down from the 180-day average (0.82/day). While the number of closings declined marginally, the gap between listings and sales remained narrow, suggesting that buyer demand continues to absorb most of the available inventory.
Pricing Behavior
The most noteworthy trend here is pricing:
- The average final sales price exceeded the average original list price by approximately $121.
- This reversal from the slight discounting seen in previous periods points to tight competition and possibly multiple-offer scenarios on select properties.
Median prices stayed consistent, further supporting pricing stability and healthy demand in the mid-range of the market.
Days on Market
- Average DOM decreased to 85 days from 89 (180-day average) and 102 (12-month average).
- Median DOM dropped slightly to 101 days.
This suggests homes are selling a little faster, especially well-priced ones in desirable neighborhoods. While some listings still linger (as shown by the highest DOM of 447 days), the market overall is moving more efficiently.
Buyer and Seller Leverage Scores
Using the 90-day weights from the integrated scoring algorithm, here’s how the leverage dynamics currently stand:
| Segment | Score | Interpretation |
|---|---|---|
| Buyer Score | 3.54 | Buyers have moderate but limited leverage |
| Seller Score | 6.46 | Sellers remain in a favorable position |
The seller score increased compared to the 180-day window (from 5.77 to 6.46), indicating that sellers regained some control, especially as prices firmed up and DOM declined.
Meanwhile, the buyer score dropped slightly to 3.54, reflecting a market that still presents opportunities, but where the window for leverage may be narrowing.
Conclusion
The Richland new construction market continues to show strong fundamentals. Builders are releasing more inventory, and while sales dipped slightly, pricing remains firm and homes are selling faster than in recent months.
For buyers, this is still a favorable time to purchase, but flexibility is decreasing. Competitive pricing and faster sales suggest acting promptly when a good option becomes available.
For sellers, especially builders, the environment is improving. Demand remains solid, and well-presented homes are fetching full price or better with less time on market.
As we move deeper into spring, all signs point to continued strength in the new construction sector. Staying ahead of market momentum will be key for anyone planning to buy or sell in the coming weeks.