Tri-Cities Real Estate Market Update: March 2024

Tri-cities Real Estate Market Update

It’s time for our monthly review of the Tri-Cities real estate market! Let’s take a closer look at the key statistics shaping the current real estate landscape in the Tri-Cities:

Inventory Insights: With a 3-month supply of inventory, we’ve seen a notable increase of 28% compared to 2023. This provides an interesting perspective on the availability of properties within our region.

Price Trends: Our median sale price has risen to $415,250, marking a 4% increase from the previous year. This upward trajectory underscores the enduring appeal of our area’s real estate market.

Listing Dynamics: New listings have surged to 513, showcasing a remarkable uptick of 43 units compared to the same period in 2023. However, closed sales have experienced a slight decline of 34 units during this time frame, highlighting an intriguing dynamic in our market.

Market Duration: The average days on market have extended slightly to 54 days, up by just one day compared to 2023. This nuanced change offers valuable insights into the pace of transactions within our community.

Whether you’re looking to buy or sell a property in Tri-Cities, our team’s expertise and knowledge will guide you towards making informed decisions.

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Tri-cities Market Update