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Tri-Cities Real Estate Market Update: Existing Construction Homes in the $600,000 – $700,000 Range

The $600,000 – $700,000 price range in the Tri-Cities represents the higher-end market, where buyers seek luxury features, larger homes, and premium locations. Understanding market trends in inventory, pricing, buyer-seller dynamics, and days on market is key for both buyers and sellers in this competitive space.

Here’s a comprehensive breakdown of how the existing construction market in this price range is performing across the Tri-Cities.


1. Market Activity: Changes in Total Listings Over the Past 12 Months

The number of listings for homes priced between $600,000 and $700,000 has seen fluctuations, but overall, inventory remains limited compared to lower-priced segments.

  • Past 12 Months: Listings in this price range were steady earlier in the year but declined toward the end of 2024, tightening inventory.
  • Year to Date (2025): The number of new listings has decreased, meaning fewer homes are entering the market in early 2025.
  • Last Full Month (January 2025): January saw a slight increase in listings, but homes in this range sold at a slower pace than lower price ranges.
  • Current Month (February 2025): Listings have declined again, indicating a limited selection for buyers looking in this price range.

Key Insight:

✔️ Inventory in this price range is shrinking, making it tougher for buyers to find options.
✔️ Sellers benefit from reduced competition, increasing the likelihood of solid offers for well-priced homes.
✔️ Buyers should be prepared for limited choices and be ready to act when the right home becomes available.


2. Pricing Trends: Listing Prices vs. Final Sales Prices

Homes in the $600,000 – $700,000 range are seeing stable price trends, with minimal variation between listing and final sales prices.

  • Past 12 Months: The average and median final sale prices were slightly lower than listing prices, meaning some negotiation was possible.
  • Year to Date (2025): The gap between listing prices and final sales prices has remained steady, showing buyers are still negotiating but not aggressively.
  • Last Full Month (January 2025): Homes in this price range sold close to asking price, but price reductions were slightly more common compared to lower price brackets.
  • Current Month (February 2025): Early data suggests that homes continue to sell near their listing prices, reinforcing stable pricing in this segment.

Key Insight:

✔️ Sellers in this price range are still getting strong offers, but buyers have more room for negotiation than in lower price ranges.
✔️ Pricing correctly is crucial—overpriced homes sit on the market longer, while well-priced homes sell quickly.
✔️ Buyers can still negotiate, but lowball offers are unlikely to succeed.


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 seller score remained moderately high, but buyers had more negotiating power than in lower price segments.
  • Year to Date (2025): The seller score has increased slightly, while the buyer score has dropped, indicating that sellers still hold an advantage.
  • Last Full Month (January 2025): Buyers had some leverage, as homes in this range typically took longer to sell.
  • Current Month (February 2025): The seller score has remained steady, showing that the market is still favorable to sellers, but buyers are able to negotiate.

Key Insight:

✔️ Sellers still hold the upper hand, but buyers in this price range have slightly more flexibility compared to lower segments.
✔️ Buyers may have the ability to negotiate on price or request seller concessions.
✔️ Sellers should ensure their home is well-prepared and priced appropriately to avoid longer days on market.


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 compared to lower-priced homes, but demand remained steady.
  • Current Month (February 2025): The days on market have remained stable, showing that buyer demand is still consistent.

Key Insight:

✔️ Homes in this price range are selling, but at a slower pace than lower-priced segments.
✔️ Buyers have more time to evaluate options, but must still act strategically in a competitive market.
✔️ Sellers should be patient but ensure their home is well-marketed and priced correctly to attract serious buyers.


5. Analysis & Key Takeaways for Buyers & Sellers

For Buyers:

✅ More Negotiation Power Compared to Lower Segments: Buyers in this range have a bit more room to negotiate, but should still be prepared for competition.
✅ Expect Some Price Reductions: While sellers hold some advantage, buyers may still find opportunities for small price reductions.
✅ Take Your Time, But Be Ready to Act: Homes in this price range stay on the market longer, but well-priced homes still move quickly.

For Sellers:

✅ The Market is in Your Favor, But Patience is Key: Sellers still have an advantage, but higher-priced homes take longer to sell.
✅ Price Strategically to Sell Faster: Overpriced homes sit longer—pricing at market value will attract the most buyers.
✅ Consider Incentives: If your home isn’t selling, offering seller concessions or minor price adjustments can help attract serious buyers.


6. Final Thoughts: A Steady Market with More Balance Between Buyers and Sellers

The $600,000 – $700,000 price range remains stable and competitive, with sellers maintaining an advantage, but buyers having more negotiation opportunities than in lower price brackets.

🏡 For Buyers – Inventory is tight, but price reductions are possible. Take your time, but be ready to act when you find the right home.
🏡 For Sellers – The market is in your favor, but patience is required. Pricing strategically and offering incentives can help sell faster.

If you’re looking to buy or sell a home in the $600,000 – $700,000 range, these market trends will help you make the best decisions. Stay ahead of the competition—start your home search or listing strategy today! 🚀