Understanding market trends can be the key to making smart real estate decisions, whether you’re looking to buy or sell. The Tri-Cities’ real estate market for existing construction homes has shown dynamic shifts over the past 12 months. By analyzing total listings, price trends, buyer and seller conditions, and days on market, we can get a clearer picture of the market’s direction.
1. Market Activity: Total Number of Listings
The total number of listings has fluctuated over the past 12 months, reflecting market seasonality and buyer demand.
- Past 12 Months: The Tri-Cities market saw a steady stream of new listings, averaging consistent activity throughout the year.
- Year to Date (YTD): So far in 2025, the number of listings declined compared to the past 12 months, suggesting a tightening market.
- Last Full Month (January 2025): The number of new listings was higher than February 2025, showing that market activity slowed down in the current month.
- Current Month (February 2025): February is showing fewer new listings compared to January, potentially due to seasonal slowdowns or shifting seller confidence.
Key Insight:
- Listings are gradually declining, creating a potential supply shortage that may lead to increased competition among buyers. Sellers who list their homes in a low-inventory market could see faster sales and stronger offers.
2. Pricing Trends: Listing vs. Final Sales Prices
Prices have shifted significantly across all periods, showing trends in buyer willingness and seller expectations.
- Past 12 Months:
- Average Listing Price: Sellers initially priced homes higher than their final sales prices.
- Average Final Sales Price: Homes typically sold below their listing price, indicating some price negotiations.
- Year to Date:
- The gap between listing and final prices has narrowed, suggesting buyers are meeting seller expectations more closely in 2025 than in 2024.
- Last Full Month (January 2025):
- Homes sold closer to their asking price than in the past 12 months, suggesting stronger buyer demand.
- Current Month (February 2025):
- Early data suggests continued stability in pricing, with minimal price reductions, meaning sellers are likely to receive close to their asking price if trends hold.
Key Insight:
- The price gap between listing and selling prices is shrinking, showing a stronger market for sellers. Buyers should expect less room for negotiation, while sellers should price their homes competitively to maintain interest.
3. Buyer and Seller Scores: Who Holds the Advantage?
The balance between buyers and sellers is a key indicator of market strength.
- Past 12 Months:
- Seller Score: Higher than the buyer score, meaning sellers held more power over the past year.
- Buyer Score: Relatively low, indicating a seller’s market where buyers had less leverage.
- Year to Date:
- Seller Score Increased: Showing that 2025 is starting strong for sellers.
- Buyer Score Dropped: Making it tougher for buyers to negotiate lower prices.
- Last Full Month (January 2025):
- Seller Score Declined Slightly: Buyers had a bit more leverage than before, possibly due to an increase in listings at the time.
- Current Month (February 2025):
- Seller Score Increased Again: The market is tipping back in favor of sellers, meaning buyers will need to act quickly and make competitive offers.
Key Insight:
- The market is increasingly favoring sellers, making it harder for buyers to negotiate lower prices.
- Buyers should be prepared to act quickly when they find a home they like, as seller confidence remains strong.
4. Days on Market: How Fast Are Homes Selling?
The speed at which homes sell is a critical indicator of market competitiveness.
- Past 12 Months:
- Homes spent an average of multiple weeks on the market before selling.
- Year to Date:
- Days on market dropped, meaning homes are selling faster in 2025 than in 2024.
- Last Full Month (January 2025):
- Homes took longer to sell compared to the year-to-date average, possibly due to higher inventory levels at that time.
- Current Month (February 2025):
- Days on market have declined sharply, meaning homes are selling faster than before, indicating high demand and limited inventory.
Key Insight:
- Homes are selling faster than they were a year ago, reinforcing that buyers need to move quickly and sellers are in a strong position.
5. Advice for Buyers & Sellers Based on Market Trends
For Buyers:
✔️ Act Fast: Homes are selling quickly, so be prepared to make competitive offers.
✔️ Limited Negotiation Power: The market is shifting further toward sellers, so don’t expect big price drops.
✔️ Secure Financing Early: With homes spending less time on the market, have your pre-approval ready to move quickly on new listings.
For Sellers:
✔️ Market Conditions Favor You: Seller scores are increasing, meaning less negotiation and better offers.
✔️ Low Inventory Means High Demand: Fewer listings mean your home is more likely to get multiple offers.
✔️ Price Competitively: With buyers meeting seller expectations, setting a realistic price will lead to faster and stronger offers.
Final Takeaway: A Strong Seller’s Market with Fast Sales & High Prices
The Tri-Cities real estate market for existing construction homes continues to favor sellers, with fewer listings, rising prices, and faster sales. Buyers will need to be prepared to compete, while sellers can take advantage of strong market conditions by listing their homes strategically.
Thinking of buying or selling? The key to success is preparation—buyers should secure financing, and sellers should price their homes strategically to take advantage of the current market trends.