As the Tri-Cities real estate market continues to evolve, staying informed is essential whether you’re buying, selling, or simply keeping an eye on local trends. Here’s a snapshot of the latest numbers from the TCAR (Tri-Cities Association of REALTORS®) Monthly Housing Report for August 2024:
Average Sold Price: $463,100
Median Sold Price: $430,000
Number of Homes Sold: 348
Total Active Listings: 877
Average Days on Market: 38
Pending Residential Listings: 363
Source: TCAR Monthly Housing Report
What Do These Numbers Mean?
Understanding these key market metrics can help guide your next real estate decision:
For Buyers:
Ample Inventory: With 877 active listings, buyers have a variety of choices across different price points, styles, and neighborhoods. This is a great time to explore your options and find the right fit for your needs.
More Time to Decide: Homes are averaging 38 days on the market, providing buyers with a reasonable window to evaluate properties and make informed decisions.
For Sellers:
Solid Pricing Trends: With an average sold price of $463,100 and a median of $430,000, home values remain strong, reflecting steady buyer demand and the market’s overall health.
Active Buyer Interest: With 363 pending listings, the market shows consistent interest from buyers, making it a good time to consider listing your property.
Ready to Make Your Move?
Whether you’re buying, selling, or investing, understanding the current market conditions is crucial to making informed decisions. For more information or to discuss your specific real estate questions, contact Krista Hopkins Homes today. We look forward to assisting you in achieving your goals with integrity, expertise, and personalized service.