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Tri-Cities Real Estate Market Update ($550K – $650K) – March 2025

The Tri-Cities real estate market is moving well.

Market Trends Overview

  • Seller’s Market: Limited inventory keeps sellers in control.
  • Longer Days on Market: Homes in this range take longer to sell compared to lower price tiers.
  • Stable Prices: Listing prices and final sale prices remain close, indicating buyers are willing to meet seller expectations.

Past 12 Months Trends

  • Listings: An average of 0.86 new listings per day, totaling 314 listings for the year.
  • Sales: 0.66 homes sold per day, with 239 total sales over 12 months.
  • Pricing:
    • Average listing price: $611,092
    • Median listing price: $600,000
    • Final sale prices averaged $593,438, with a median of $590,000.
  • Days on Market: Homes took an average of 68 days to sell, with a median of 34 days.
  • Buyer-Seller Scores:
    • Buyer Score: 3.4 (slightly more balanced)
    • Seller Score: 6.6 (still favors sellers)

Key Insight:

Homes in this range sell slightly slower, but prices remain strong, with minimal negotiation.


Year-to-Date (YTD) 2025

  • Listings: 50 new homes have entered the market, averaging 1.3 per day.
  • Sales: 33 homes sold, with 1.0 sales per day.
  • Pricing:
    • Average listing price: $602,408
    • Median listing price: $599,450
    • Final sale prices: Averaged $596,505, median $595,000.
  • Days on Market: Homes sold in an average of 26 days, with a median of 18 days.
  • Buyer-Seller Scores:
    • Buyer Score: 1.6 (buyers have little power)
    • Seller Score: 8.4 (strong seller advantage)

Key Insight:

The market is moving faster in 2025 than in the past year, with less time on the market for homes.


February 2025 (Last Full Month)

  • Listings: 23 new homes hit the market (0.82 per day).
  • Sales: 15 homes sold (0.54 per day).
  • Pricing:
    • Average listing price: $594,904
    • Median listing price: $589,900
    • Final sale prices: Averaged $593,252, median $585,000.
  • Days on Market: Homes sold in an average of 11 days, with a median of 7 days.
  • Buyer-Seller Scores:
    • Buyer Score: 1.8 (buyers have limited power)
    • Seller Score: 8.2 (still a seller’s market)

Key Insight:

February saw faster-moving homes, with homes selling in just over a week on average.


March 2025 (Current Month)

  • Listings: 4 new homes listed so far.
  • Sales: 4 homes sold.
  • Pricing:
    • Average listing price: $625,413
    • Median listing price: $625,875
    • Final sale prices: Averaged $597,375, median $597,000.
  • Days on Market: 51 days average, median 41 days.
  • Buyer-Seller Scores:
    • Buyer Score: 1.1 (very low buyer power)
    • Seller Score: 8.9 (very strong seller advantage)

Key Insight:

Homes are still selling well, but March has seen slightly longer selling times than in February.


Final Thoughts

  • Sellers: The market remains in your favor, with high demand and strong sale prices.
  • Buyers: Expect strong competition. Be prepared to offer near asking price to secure a home.

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