This report provides a multi-layered analysis of new construction single-family homes in Richland, using four time periods: the past 180 days, 90 days, March 2025, and April 2025 (month-to-date). This progression offers valuable insights into how inventory, pricing, and buyer/seller dynamics have evolved leading into spring.
We assess the number of new listings and homes sold, pricing trends, days on market (DOM), and leverage conditions to evaluate the balance between buyer demand and seller control.
180-Day Market Summary
| Metric | Value |
|---|---|
| Total Listings | 178 |
| New Listings per Day | 0.99 |
| Total Homes Sold | 148 |
| Homes Sold per Day | 0.82 |
| Average Original Listing Price | $583,930 |
| Median Original Listing Price | $582,425 |
| Average Final Sales Price | $583,069 |
| Median Final Sales Price | $573,528 |
| Average DOM (sold homes) | 89 |
| Median DOM (sold homes) | 103 |
| Buyer Score | 4.23 |
| Seller Score | 5.77 |
Summary: Over the past six months, Richland’s new construction market remained seller-favorable. Pricing was steady with minimal negotiation, and inventory turnover was relatively healthy. Homes sold at about 99.85 percent of their original list price, and days on market showed mild improvement from earlier trends.
90-Day Market Summary
| 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 |
| Average DOM (sold homes) | 85 |
| Median DOM (sold homes) | 101 |
| Buyer Score | 3.54 |
| Seller Score | 6.46 |
Summary: In the past 90 days, pricing strengthened slightly with average final sales prices exceeding original list prices by a slim margin. Listings rose modestly while sales per day held steady, indicating solid demand. Sellers gained back some leverage, though buyers remained active and competitive.
March 2025 Market Summary (30 Days)
| Metric | Value |
|---|---|
| Total Listings | 36 |
| New Listings per Day | 1.16 |
| Total Homes Sold | 25 |
| Homes Sold per Day | 0.81 |
| Average Original Listing Price | $601,770 |
| Median Original Listing Price | $593,950 |
| Average Final Sales Price | $601,770 |
| Median Final Sales Price | $593,950 |
| Average DOM (sold homes) | 107 |
| Median DOM (sold homes) | 78 |
| Buyer Score | 4.38 |
| Seller Score | 5.62 |
Summary: March marked a significant period of pricing stability. Homes sold at 100 percent of their original list price on average, indicating near-perfect pricing alignment between buyers and sellers. The rise in new listings was matched closely by strong buyer activity. Median DOM decreased, suggesting faster sales for well-positioned homes.
April 2025 Market Summary (To-Date)
| Metric | Value |
|---|---|
| Total Listings | 9 |
| New Listings per Day | 1.00 |
| Total Homes Sold | 9 |
| Homes Sold per Day | 1.00 |
| Average Original Listing Price | $660,656 |
| Median Original Listing Price | $634,850 |
| Average Final Sales Price | $661,767 |
| Median Final Sales Price | $634,850 |
| Average DOM (sold homes) | 52 |
| Median DOM (sold homes) | 0 |
| Buyer Score | 4.38 |
| Seller Score | 5.62 |
Summary: April is off to a fast start. Both listing and sales rates are aligned at one per day, showing full absorption of inventory. Average final prices slightly exceeded original list prices, and median DOM was zero, indicating many homes are going under contract immediately. These early results signal strong buyer urgency and possibly low supply of desirable homes.
Tiered Market Trends
| Time Period | Buyer Score | Seller Score | Avg. DOM | Price vs. List (%) |
|---|---|---|---|---|
| 180 Days | 4.23 | 5.77 | 89 | -0.15% |
| 90 Days | 3.54 | 6.46 | 85 | +0.02% |
| 30 Days (Mar) | 4.38 | 5.62 | 107 | 0.00% |
| April to Date | 4.38 | 5.62 | 52 | +0.17% |
Interpretation:
- Pricing strength is increasing, with final sales prices consistently matching or exceeding original list prices in the most recent months.
- Seller leverage peaked during the 90-day period and has since moderated, suggesting the market is finding a better balance.
- Buyers gained more leverage in March and April, likely due to increased inventory and slightly longer average DOM during March.
- April shows extreme speed, with homes selling almost instantly when priced correctly, indicating strong buyer motivation.
Conclusion
Over the past six months, Richland’s new construction market has remained solid and seller-favorable, but recent months suggest a gradual move toward a more balanced environment. Inventory is steady, pricing is firm, and time on market is decreasing for competitively positioned homes.
Buyers should be prepared to move quickly, especially on high-quality listings. With homes selling at or above asking price and inventory tightening in April, decisiveness is key.
Sellers and builders continue to hold the advantage, particularly when pricing accurately and launching during low-inventory weeks. The data shows that well-priced homes are not only selling—they are selling immediately.
We’ll continue tracking trends through the spring season to see if April’s speed and pricing strength carry into May.