Tri-Cities Real Estate Market Update: May 2024

Tri-Cities Market Update | May 2024 

Here’s a snapshot of how the local Tri-Cities real estate market is performing:

Inventory: We have a 3-month supply of homes, which is a 10% increase compared to last year. This means more options for buyers!

Median Sale Price: The median price of homes has risen to $416,000, reflecting a 4% increase from 2023. Our market continues to show steady growth.

 New Listings: There were 646 new listings this month, up by 57 units from last year. More homes are becoming available, providing more opportunities for buyers.

Closed Sales: We saw 413 closed sales, an increase of 22 units compared to 2023. This indicates healthy activity in our market.

Days on Market: Homes are spending an average of 46 days on the market, 4 days longer than last year. While homes are taking a bit longer to sell, the market remains robust.

These trends highlight a thriving real estate environment in the Tri-Cities. Whether you’re considering buying or selling, now is a great time to make your move. Our team at Krista Hopkins Homes is here to guide you through every step of the process with our local expertise and dedication to your success.

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