If you’ve been an active buyer or seller in the Tri-Cities over the past year or two, this should come as no surprise:
The Tri-Cities was the fastest-growing real estate market in the state, and #14 in the country, in Q2 of 2019.
That’s according to data compiled by the National Association of Realtors®, which shows home prices here rising by 9.8% over the course of a year. Have a look:
Q2 2018 median home sale price: $276,300
Q2 2019 median home sale price: $303,300
That makes us the fastest-growing market in Washington, ahead of red-hot Spokane, which ranked #18 in the nation with a 9.3% increase in median prices. No other Washington metro area ranked in the top 25. The only other Pacific Northwest city in the top 25 was Boise, which saw median prices rise by 12.5% between 2018 and 2019.
There are signs that our area’s price growth is slowing down — median home sale prices have dropped below $300,000 for the first time in three months.
As always, drop us a note if you have any questions about the Tri-Cities market and how it impacts your plans to buy or sell!