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Tri-Cities Real Estate Market Update ($650K – $750K) – March 2025

Market Trends Overview

  • Seller’s Market: Limited inventory continues to favor sellers.
  • Longer Sales Timeline: Homes in this range take longer to sell compared to lower price brackets.
  • Stable Prices: Listing and final sale prices remain close, showing strong buyer demand despite longer selling times.

Past 12 Months Trends

  • Listings: An average of 0.5 new listings per day, totaling 184 listings for the year.
  • Sales: 0.36 homes sold per day, with 133 total sales over 12 months.
  • Pricing:
    • Average listing price: $719,589
    • Median listing price: $719,000
    • Final sale prices averaged $699,438, with a median of $699,900.
  • Days on Market: Homes took an average of 68 days to sell, with a median of 39 days.
  • Buyer-Seller Scores:
    • Buyer Score: 2.6 (limited buyer power)
    • Seller Score: 7.4 (still a strong seller’s market)

Key Insight:

While homes take longer to sell, prices remain firm, indicating a steady level of demand.


Year-to-Date (YTD) 2025

  • Listings: 33 new homes have entered the market, averaging 1.1 per day.
  • Sales: 15 homes sold, with 1.0 sales per day.
  • Pricing:
    • Average listing price: $710,042
    • Median listing price: $700,000
    • Final sale prices: Averaged $705,694, median $699,900.
  • Days on Market: Homes sold in an average of 32 days, with a median of 13 days.
  • Buyer-Seller Scores:
    • Buyer Score: 3.5 (buyers have more leverage than in lower price tiers)
    • Seller Score: 6.5 (still favors sellers, but more balanced than lower ranges)

Key Insight:

Compared to last year, homes in this range are selling faster, but buyers have slightly more negotiating power.


February 2025 (Last Full Month)

  • Listings: 17 new homes hit the market (0.6 per day).
  • Sales: 7 homes sold (0.25 per day).
  • Pricing:
    • Average listing price: $708,582
    • Median listing price: $699,900
    • Final sale prices: Averaged $708,141, median $699,900.
  • Days on Market: Homes sold in an average of 31 days, with a median of 10 days.
  • Buyer-Seller Scores:
    • Buyer Score: 2.7 (slightly more balanced)
    • Seller Score: 7.3 (still seller-favored)

Key Insight:

The market is steady, with quick-moving homes, but buyers are taking their time on higher-end properties.


March 2025 (Current Month)

  • Listings: 3 new homes listed so far.
  • Sales: 1 home sold.
  • Pricing:
    • Average listing price: $706,600
    • Median listing price: $690,000
    • Final sale prices: Averaged $730,000, median $730,000.
  • Days on Market: 1 day average, median 1 day.
  • Buyer-Seller Scores:
    • Buyer Score: 4.1 (better for buyers)
    • Seller Score: 5.9 (more balanced than before)

Key Insight:

March has started with quick sales, but fewer homes have sold so far.


Final Thoughts

  • Sellers: The market still favors you, but expect longer selling times than in lower price tiers.
  • Buyers: There’s slightly more room for negotiation, but homes priced well still move fast.

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