Tri-City Area and Real Estate Blog

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.  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 Distinctive Properties a call and we can explain it to you so you do not miss an opportunity in this market.

Source:  US Census and Washington Office of Financial Management Forecasting Division 2011

Tridec published the following information:

POPULATION                        

Kennewick-Pasco-Richland

2000 Census 191,822

2010 Census  253,340

2011 Estimate 258,400

Benton County

2000 Census 142,475

2010 Census 175,177

2011 Estimate 177,900

Kennewick

2000 Census  54,751

2010 Census  73,917

2011 Estimate  74,665

Richland

2000 Census 38,708

2010 Census  48,058

2011 Estimate  49,090

West Richland 

2000 Census  8,385

2010 Census  11,811

2011 Estimate 12,200

Franklin County

2000 Census  49,347

2010 Census  78,163

2011 Estimate  80,500

Pasco

2000 Census  32,066

2010 Census  59,781

2011 Estimate  61,000

**** Attached is the link the Wa Economic Revenue Forecast with a clip of their September Council Meeting.  With Dr. Arun Raha  giving the forecast for WA State. Interesting, long, but with a lot of good information.  We here in the Tri-Cities are fortunate that our Numbers are not nearly as bad, they are acually good compared to the Nation and the State. We just expected even more, is that not just how it works.  With Thanksgiving around the corner we need to be greatfull for our numbers.

 http://www.erfc.wa.gov/forecast/rervenueForecast.shtml

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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