The fourth quarter numbers are out from the Washington State Center for Real Estate Research. Median resale prices are up 8.3% over the previous year as are the number of sold properties.
| Resales | % change from last quarter |
% change from last year |
Median Resale Price | % change from last year |
|
| Benton County | 3,100 | +2.6% | +.3% | $189,300 | +8.3% |
| Franklin County | 640 | +3.2% | +1.6% | $189,300 | +8.3% |
*Numbers are seasonally adjusted
The below lines represent the past year’s inventory and homes under contract. As the lines get closer together, this represents the housing inventory being consumed at a faster pace (in other words, demand for housing has increased). As the lines get further apart, this represents a surplus of inventory. As you can see, our inventory levels are lower than this summer, but are not quite as low as they were last January, but the number of homes under contract is a bit higher than the number of homes under contract last January.
Spring is right around the corner, and we are excited for things to come. If you have been thinking of buying or selling this spring, let’s set up some time to discuss your plans and create a strategy. Please call Jennifer at (509) 947-5670 or Jessica at (509) 947-2230.
Sources: http://wcrerdata.be.washington.edu/WSHM/2012Q4/Snapshot%204Q%202012%20v2.pdf and the Tri-City Association of REALTORS®.