The $700,000 – $800,000 price range in the Tri-Cities represents a high-end luxury segment, where buyers seek custom homes, premium locations, and expansive floor plans. With fewer buyers at this price point, the market in this range has different dynamics compared to lower-priced segments. Whether you’re looking to buy or sell, understanding the trends in listings, pricing, buyer-seller dynamics, and days on market is essential.
Here’s a comprehensive breakdown of the existing construction market for homes priced between $700,000 and $800,000 across the Tri-Cities.
1. Market Activity: Changes in Total Listings Over the Past 12 Months
The number of listings for homes priced between $700,000 and $800,000 has remained relatively steady, though inventory remains lower compared to lower price brackets.
- Past 12 Months: Listings in this price range were more available in certain months, but overall inventory remains low due to a smaller pool of buyers.
- Year to Date (2025): The number of new listings has slightly decreased, meaning fewer high-end homes are entering the market in early 2025.
- Last Full Month (January 2025): January saw a slight increase in new listings, but homes in this range took longer to sell compared to lower-priced homes.
- Current Month (February 2025): Listings have remained stable, but demand remains highly selective, making sales less frequent than in lower price points.
Key Insight:
✔️ Inventory in this price range is limited, but not in high demand, leading to longer time on market.
✔️ Sellers need to market their homes strategically to attract the right buyers.
✔️ Buyers have more choices compared to lower price ranges, but competition is still present for well-priced homes.
2. Pricing Trends: Listing Prices vs. Final Sales Prices
Homes in the $700,000 – $800,000 range are seeing price stability, but more flexibility in negotiations compared to mid-range price brackets.
- Past 12 Months: The average and median final sale prices were lower than listing prices, meaning buyers successfully negotiated price reductions.
- Year to Date (2025): The gap between listing prices and final sales prices has remained consistent, showing that buyers expect some negotiation room.
- Last Full Month (January 2025): Homes in this price range sold below asking price more frequently than homes in lower price brackets.
- Current Month (February 2025): Early data suggests that homes continue to sell below listing price, reinforcing the buyer’s ability to negotiate in this market.
Key Insight:
✔️ Sellers should expect some level of price negotiation, as buyers are less willing to pay full asking price in this range.
✔️ Buyers have more negotiating power, meaning they can request concessions or price reductions.
✔️ Sellers should price their homes strategically, as overpricing could lead to longer days on market and price cuts.
3. Buyer and Seller Scores: Who Holds the Advantage?
Buyer and seller scores provide insight into who has more leverage in this price range.
- Past 12 Months: The buyer score remained higher than in lower price brackets, meaning buyers had more negotiating power.
- Year to Date (2025): The seller score has remained stable, but buyers still have an edge due to a smaller high-end buyer pool.
- Last Full Month (January 2025): Sellers maintained some control, but buyers were able to negotiate price reductions more frequently.
- Current Month (February 2025): The buyer score has increased slightly, showing that sellers are having to be more flexible in their pricing and concessions.
Key Insight:
✔️ Buyers hold more power in this price range, as there is less competition for high-end homes.
✔️ Sellers should be open to negotiation and offer incentives to attract serious buyers.
✔️ Pricing realistically is crucial, as overpriced homes are likely to sit on the market longer.
4. Days on Market: How Fast Are Homes Selling?
The time it takes for homes to sell in this price range provides a clear picture of market competitiveness.
- Past 12 Months: Homes in this price range stayed on the market longer than lower-priced homes, reflecting a smaller buyer pool.
- Year to Date (2025): The days on market have remained steady, meaning homes are selling at a similar pace as last year.
- Last Full Month (January 2025): Homes in this price range took longer to sell, reinforcing that high-end homes require more time to find the right buyer.
- Current Month (February 2025): Days on market have remained stable, showing that buyer demand is selective and cautious.
Key Insight:
✔️ Homes in this price range are selling, but at a much slower pace than lower-priced segments.
✔️ Buyers have more time to evaluate options, but should still act strategically when they find a home they like.
✔️ Sellers should be patient and ensure their home is priced competitively and well-marketed.
5. Analysis & Key Takeaways for Buyers & Sellers
For Buyers:
✅ More Negotiation Power Compared to Lower Segments: Buyers in this range have more leverage than in lower-priced segments.
✅ Expect Price Reductions & Incentives: Sellers in this range are more willing to negotiate, meaning buyers should take advantage of market flexibility.
✅ Take Time, But Be Ready to Act on Well-Priced Homes: Homes in this range stay on the market longer, but desirable properties still attract strong offers.
For Sellers:
✅ The Market is More Buyer-Friendly in This Price Range: Sellers must be realistic with pricing and flexible with negotiations.
✅ Price Strategically to Sell Faster: Overpriced homes tend to sit longer, while competitively priced homes attract more attention.
✅ Consider Offering Buyer Incentives: Concessions like closing cost assistance or minor price adjustments can help attract serious buyers.
6. Final Thoughts: A Balanced Market with More Buyer Flexibility
The $700,000 – $800,000 price range remains stable but slower-moving, with buyers holding more negotiation power and sellers needing to price carefully to attract interest.
🏡 For Buyers – Expect more negotiation opportunities and longer days on market. Take your time but be prepared to act when you find the right home.
🏡 For Sellers – Be patient and price competitively. Offering incentives can help speed up the sale in a buyer-sensitive market.
If you’re looking to buy or sell a home in the $700,000 – $800,000 range, these market insights will help you make informed decisions. Start planning your next move today! 🚀