One of the best ways to understand real estate market trends is by analyzing how listing prices compare to final sale prices over different time frames. This can help buyers know how much they might expect to pay compared to the asking price, and it gives sellers insight into pricing strategies and market demand.
This analysis looks at listing vs. final sale prices over the past 12 months, year-to-date (YTD), and the current month for West Richland, Richland, Pasco, and Kennewick.
How Do Listing Prices Compare to Final Sale Prices?
West Richland
- Past 12 Months:
- Average Listing Price: $555,888
- Average Final Sale Price: $545,512
- Difference: 1.9% decrease
- Year to Date (YTD 2025):
- Average Listing Price: $657,229
- Average Final Sale Price: $655,436
- Difference: 0.3% decrease
- February 2025 (Current Month):
- Average Listing Price: $729,900
- Average Final Sale Price: $480,942
- Difference: 34% decrease
Richland
- Past 12 Months:
- Average Listing Price: $523,023
- Average Final Sale Price: $509,607
- Difference: 2.6% decrease
- Year to Date (YTD 2025):
- Average Listing Price: $580,965
- Average Final Sale Price: $579,945
- Difference: 0.2% decrease
- February 2025 (Current Month):
- Average Listing Price: $620,000
- Average Final Sale Price: $414,750
- Difference: 33% decrease
Pasco
- Past 12 Months:
- Average Listing Price: $488,289
- Average Final Sale Price: $477,202
- Difference: 2.3% decrease
- Year to Date (YTD 2025):
- Average Listing Price: $534,920
- Average Final Sale Price: $492,564
- Difference: 7.9% decrease
- February 2025 (Current Month):
- Average Listing Price: $583,500
- Average Final Sale Price: No sales yet recorded
Kennewick
- Past 12 Months:
- Average Listing Price: $500,899
- Average Final Sale Price: $487,154
- Difference: 2.7% decrease
- Year to Date (YTD 2025):
- Average Listing Price: $498,476
- Average Final Sale Price: $489,129
- Difference: 1.9% decrease
- February 2025 (Current Month):
- Average Listing Price: $528,800
- Average Final Sale Price: $341,000
- Difference: 35% decrease
Key Takeaways
- Over the past 12 months, final sale prices have remained close to listing prices, with most cities seeing only a 2-3% decrease from asking to sale price.
- Year-to-date data shows that homes are still selling close to asking price, with only small declines in West Richland, Richland, and Kennewick.
- February data shows a significant drop in sale prices compared to listing prices, particularly in West Richland (34%), Richland (33%), and Kennewick (35%). This suggests that buyers are negotiating deeper discounts this month.
- Pasco’s February sales data is incomplete, but trends indicate a similar potential gap between listing and selling prices.
What This Means for Buyers and Sellers
For sellers:
- If you’re listing a home now, be aware that buyers are negotiating harder. Recent sales show larger price drops, meaning homes may need more competitive pricing to attract buyers.
- Year-to-date and 12-month trends indicate that sellers have had strong pricing power, but February is showing signs of market softening.
For buyers:
- February is shaping up to be a great month for buyers to negotiate lower prices.
- If you’re looking at homes that have been on the market for longer periods, don’t be afraid to make offers below asking price.
Final Thoughts
The Tri-Cities market has been relatively strong over the past year, with sale prices staying close to listing prices. However, February is showing a shift, with much larger price drops between listing and final sale prices. This could indicate a temporary slowdown or a shift toward a more balanced market.
If you’re considering buying or selling, understanding these trends can help you make the right move. For expert guidance, reach out to ryan@kenmoreteam.com or call 509.987.4544.