The Rental Market:
For those of you who are planning on renting for a while before you buy, it could be tough.  Apartment complexes are about 98% full with waiting lists.  Rental homes are being rented nearly as soon as they are available.  What to do?  Register with Property Managers to be notified of available properties BEFORE they are offered to the general public.  Good luck!  Let me know if you need assistance.

Homes For Sale/January 2010 Results:
  • Includes Stick Built Homes Sold in Kennewick, Pasco, Richland, Burbank, Benton City, West Richland, and Findley combined.
  • Existing Home Sales: for the month of January 2010, 100 homes sold, up almost 30% over January 2009, but still 10% lower than January 2008.  It took an average of 115 days to sell an existing home and the median home price was $152,500, up over both 2009 and 2008.
  • New Stick-Built Home Sales:  For the month of January 2010, New Home Sales were the same, 45 units, compared to January 2009 and 3 units more than 2008.  The median purchase price has been declining, down 4% over January 2009 and almost 12% lower than January 2008.
  • General Observations: The supply of homes is still tight with 669 existing homes available across all price ranges and 286 homes have accepted offers or are under contract.  The market continues to be very active with the various House Stimulus Tax Credit Programs going on.  Reminder, for the tax credit, homes must have an accepted offer by 4/30/2010 and close by 6/30/2010.

Note: The results are based on data from November 2008 and November 2009 and were taken from the Tri-City Assocation of REALTORS' Multiple Listing Service (MLS) data base.
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