Understanding how the real estate market is shifting is crucial for both buyers and sellers. Over the past 12 months, market trends have evolved across the Tri-Cities, impacting listing counts, sales activity, and pricing dynamics. This analysis will highlight the key changes in inventory levels, buyer and seller market conditions, and what these trends mean for those looking to enter the housing market.
How Have Total Listings Changed Over the Past 12 Months?
Across the Tri-Cities region, the total number of new and existing home listings has shown distinct trends in each city:
- West Richland saw 210 total listings over the past 12 months, equating to 1 new listing every 1.7 days. However, in the last full month (January 2025), only 13 new listings entered the market, dropping the pace to 1 every 2.4 days.
- Richland recorded 673 listings in the past 12 months (1.84 listings per day), but in January 2025, that number fell to 46 listings, slowing to 1.48 per day.
- Pasco experienced 698 total listings over the year (1.91 per day), with 58 new listings in January (1.87 per day), showing relative stability.
- Kennewick led the region with 958 total listings in the past 12 months (2.62 per day), but January saw 73 new listings, slightly slowing to 2.35 per day.
Key Insight: Declining Inventory
Despite seasonal fluctuations, the overall trend across all four cities is a decline in new listings entering the market compared to the 12-month average. This suggests a tightening inventory, leading to increased competition among buyers.
Buyer & Seller Market Conditions
The balance between buyers and sellers has also shifted:
- West Richland: The buyer score dropped from 2.3 (past 12 months) to 1.5 (YTD 2025), while the seller score climbed from 7.7 to 8.5, indicating a stronger seller’s market.
- Richland: The buyer score decreased from 3.0 to 3.2, with the seller score slightly dipping from 7.0 to 6.8, showing relative stability.
- Pasco: The buyer score increased from 3.3 to 4.5, while the seller score fell from 6.7 to 5.5, signaling more favorable conditions for buyers.
- Kennewick: The buyer score increased slightly from 3.5 to 3.6, while the seller score decreased from 6.5 to 6.4, showing a more balanced market.
Key Insight: Strengthening Seller’s Market in Some Areas
West Richland shows the strongest shift toward a seller’s market, while Pasco and Kennewick display signs of increased buyer leverage.
Pricing Trends & Market Activity
- Listing Prices: Across all cities, listing prices have either remained stable or increased, with notable price hikes in West Richland and Kennewick.
- Sold Prices: The gap between listing and final sale prices has narrowed, particularly in West Richland and Richland, signaling stronger demand and reduced price negotiations.
- Days on Market: Homes are selling faster in Richland and Pasco, while Kennewick and West Richland have seen fluctuating market times.
Final Takeaways
- Sellers: Now is a prime time to list, especially in West Richland and Richland, where demand is high, and homes are selling near asking prices.
- Buyers: Pasco and Kennewick present better opportunities, with higher inventory and more negotiating power.
- Overall Market Outlook: The Tri-Cities market is experiencing a tightening in inventory, meaning buyers should act fast, while sellers may benefit from stronger competition among buyers.
For more insights or to explore buying and selling opportunities, reach out to ryan@kenmoreteam.com or call 509.987.4544.