As we move through the final quarter of the year, the Tri-Cities housing market continues to show steady activity. October 2024 brought key trends that both buyers and sellers should take note of. Below is a snapshot of the latest data from the TCAR Monthly Housing Report:
October 2024 Market Highlights
Average Sold Price: $459,600
The average price of homes sold in October highlights a robust market, with values maintaining a solid upward trend.
Median Sold Price: $430,000
The median sold price reflects the midpoint of all homes sold, offering a balanced perspective on affordability and market dynamics.
Number of Homes Sold: 315
While slightly down from peak summer months, October’s sales activity signals continued interest and movement in the market.
Total Active Listings: 854
Inventory remains relatively stable, providing options for buyers while giving sellers an audience of eager house hunters.
Average Days on Market: 44
Homes are spending more time on the market compared to earlier this year, indicating a slight cooling of the market as we enter the holiday season.
Pending Residential Listings: 307
Pending sales demonstrate that buyer interest remains strong, even as the market transitions into the slower months of the year.
What Does This Mean for You?
For buyers, increased inventory and longer days on market might provide more opportunities to negotiate and find the right home. For sellers, pricing strategically and working with experienced agents will be key to standing out in a competitive market.Whether you’re looking to buy, sell, or simply stay informed about the local market, our team at Krista Hopkins Homes is here to guide you. With deep expertise in the Tri-Cities area, we offer personalized strategies to help you achieve your real estate goals.
Contact us today to learn more about what these market trends mean for your unique situation!
Source: TCAR Monthly Housing Report for October 2024