The new year is off to a good start for homeowners in Richland and Pasco. Median home prices in both cities reached record highs in January.
Pasco: The median price was $350,000 in January, up from $329,900 the previous month. What's really remarkable is that it was only seven months earlier (June 2020) when Pasco hit the $300K median price plateau for the first time.
Richland: The median price here hit $377,500 in January, which was up about $18K from the month before. Home prices in Richland haven't seen the same rapid increase that Pasco has, though. As far back as Fall 2019, Richland prices were in the $340K-$350K range, and in March 2020 they reached $370K for the first time.
I should also point out that the Tri-Cities area as a whole also hit a record high home price in January: $341,990. That covers homes for sale in Kennewick, Pasco, Richland, West Richland, Benton City, and Burbank.
The outlier at the moment is Kennewick. Home prices in Kennewick have dropped in 3 of the past 4 months, and were at $307,000 in January. That's down from a high of $349,900 this past September.
As always, if you ever have questions about the housing market in your neighborhood, drop us a line anytime. We love to help!
- Cari
