Tri-City Area and Real Estate Blog

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Despite the Tri-City market slowing a little, some areas are competing more for buyers, due to the increase in listings, causing the prices to soften. We are still growing and prospering. We are selling between 285 to 300 homes a month for 2011. Inventory has increased the pressure on current prices.

The following is a computation from Tridec showing how well we are doing. With rates this low and prices competitive, this is a great time to buy. It is an ok time to sell, you just have to be realistic and look at your competition. If you do not have the desire to sell or the move is not worth the realistic price, if you are moving outside of this market area, then you should not sell. If you move up as a seller, within our market area, you will make up any difference and more in the move. Look at the silver lining this move will gain for you. Give me a call and I can explain it to you so you do not miss an opportunity in this market. ( The Tri-City market include: Kennewick, Richland, Pasco, W-Richland, Finnley.)

Tridec published the following information:

 POPULATION

                                                         2000 Census        2010 Census    2011 Estimate

Kennewick-Pasco-Richland      191,822………253,340……….258,400

 Kennewick                                      142,475……..175,177………177,400

Richland                                           38,708………..48,058………..49,090

West Richland                                   8,385………..11,811…………12,200

Franklin county                           49,347………..78,163………..80,500

Pasco                                                 32,066……….59,781………..61,000

WORKFORCE

Labor Force ……………………………138,100

Employment……………………………127,945

Unemployment………………………..10,155

Unemployment Rate……………………..7.4%

                         Composite Index……Housing …….Utilities…..Transportation

Tri-Cities, WA                       93.3             91.5              88.3                  104.3

Seattle, WA                            120.0          134.4            89.9                   112.4

Spokane, WA                          92.7             85.5             74.1                   101.6

Yakima, WA                              92.8           86.6             82.5                    100.6

Portland-Vancouver, OR-WA 111.1    123.6          91.6                    114.6

Oakland,CA                             137.9           198.6           98.3                   109.5

Reno, NV                                  96.1                90.3            92.1                    103.7