Headlines about the local market almost always lead with median sale price, which is the number least likely to describe your home. Median price moves when the mix of what sold changes — a quarter with more new construction closings can push the median up while individual home values sit flat.
Metrics worth your attention
- Months of supply, calculated by price band: the clearest read on whether a segment favors buyers or sellers.
- Median days on market for homes comparable to yours, not for the whole city.
- Share of active listings with price reductions: the earliest warning that asking prices have drifted.
- Sale-to-list ratio: tells you what negotiation actually looks like right now.
- Concession frequency: in Pasco especially, recorded prices without concession data are incomplete.
Why the Tri-Cities has to be read as four markets
Kennewick, Pasco, Richland and West Richland have different housing stock, different buyer motivations and different new-construction pressure. A metro-wide figure blends all of that into a number that describes no neighborhood in it.
When I prepare a market read for a client, it's scoped to the city, the price band and often the specific plat. That's the level at which the data becomes decision-grade.
If you want current figures for a specific area rather than a metro headline, ask me and I'll pull them.