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Tri-Cities Real Estate Market Update ($450K – $550K) – March 2025

Market Trends Overview

  • Strong Seller Market: Buyers have limited room for negotiation as demand stays high.
  • Fast Sales: Homes in this range sell quickly, with low days on market.
  • Rising Prices: The listing price gap between active and sold homes remains small, showing strong demand.

Past 12 Months Trends

  • Listings: An average of 1.79 new listings per day, totaling 655 listings for the year.
  • Sales: 1.43 homes sold per day, with 523 total sales over 12 months.
  • Pricing:
    • Average listing price: $500,489
    • Median listing price: $499,950
    • Final sale prices averaged $493,882, with a median of $494,000.
  • Days on Market: Homes took an average of 43 days to sell, with a median of 22 days.
  • Buyer-Seller Scores:
    • Buyer Score: 2.5 (limited buyer power)
    • Seller Score: 7.5 (favors sellers)

Key Insight:

Sellers maintain pricing power, with homes selling quickly and near asking price.


Year-to-Date (YTD) 2025

  • Listings: 84 new homes have entered the market, averaging 1.29 per day.
  • Sales: 62 homes sold, with 0.95 sales per day.
  • Pricing:
    • Average listing price: $505,672
    • Median listing price: $507,500
    • Final sale prices: Averaged $498,915, median $500,000.
  • Days on Market: Homes sold in an average of 36 days, with a median of 19 days.
  • Buyer-Seller Scores:
    • Buyer Score: 2.3 (slightly improved for buyers)
    • Seller Score: 7.7 (still strongly favoring sellers)

Key Insight:

Demand remains steady, and homes are selling faster compared to last year.


February 2025 (Last Full Month)

  • Listings: 27 new homes hit the market (0.96 per day).
  • Sales: 25 homes sold (0.89 per day).
  • Pricing:
    • Average listing price: $508,342
    • Median listing price: $510,000
    • Final sale prices: Averaged $499,875, median $502,000.
  • Days on Market: Homes sold in an average of 26 days, with a median of 15 days.
  • Buyer-Seller Scores:
    • Buyer Score: 2.1 (unchanged)
    • Seller Score: 7.9 (unchanged)

Key Insight:

Homes in February sold faster than the yearly average, showing that demand remains high.


March 2025 (Current Month)

  • Listings: 7 new homes listed so far.
  • Sales: 3 homes sold.
  • Pricing:
    • Average listing price: $515,670
    • Median listing price: $520,000
    • Final sale prices: Averaged $510,400, median $515,000.
  • Days on Market: 10 days average, median 8 days (indicating quick turnover).
  • Buyer-Seller Scores:
    • Buyer Score: 3.0 (slightly better for buyers)
    • Seller Score: 7.0 (still favors sellers)

Key Insight:

March has started strong, and homes continue to sell in under two weeks.


Final Thoughts

  • Sellers: The market remains in your favor, with strong demand and homes selling quickly.
  • Buyers: Prepare for competition. Act fast, and offer near asking price to secure a home.

Thinking about buying or selling? Let’s connect today!