Overview: September 2, 2025
In the past 90 days, the market for existing single-family homes priced between $1.00M and $2.00M across the Tri-Cities region and nearby cities has demonstrated steady activity. This segment focuses exclusively on existing construction properties, providing a clear view of the resale market rather than new developments.
The core Tri-Cities—Kennewick, Richland, Pasco, and West Richland—account for the majority of sales, with Kennewick leading in volume and closings roughly every 15 days. Benton City and Prosser, while smaller markets within this price range, add diversity to the offerings but have fewer transactions. Overall, sales velocity varies, highlighting a more active core contrasted by slower closings outside these main cities.
Pricing remains consistent within the $1.00M to $2.00M range across markets, with average home sizes generally spanning 3,800 to 4,300 square feet in the core cities. Richland tends to command higher prices per square foot, reflecting efficiency and demand, while Pasco offers a relative value proposition. Days on market are typically lower in the core cities, suggesting a brisker pace compared to the outlying areas.
Market by City (Past 90 Days – All Existing Single-Family Homes $1.00M–$2.00M)
| City | Sales Count | Closings / Day | Price (Avg / Median) | Price Range (Min–Max) | Size SqFt (Avg / Median) | $ / SqFt (Avg / Median) | Days on Market (Avg / Median) |
|---|---|---|---|---|---|---|---|
| Tri-Cities (Overall) | 14 | 0.2 (≈1 Closing Every 6 Days) | $1,232,143 / $1,212,500 | $1.01M – $1.50M | 4,035 / 4,152 | $320 / $324 | 55 / 25 |
| Kennewick | 6 | 0.1 (≈1 Closing Every 15 Days) | $1,240,833 / $1,175,000 | $1.01M – $1.50M | 4,308 / 4,193 | $294 / $303 | 28 / 17 |
| Richland | 4 | 0.0 (≈1 Closing Every 23 Days) | $1,261,250 / $1,242,500 | $1.21M – $1.35M | 4,155 / 4,165 | $315 / $378 | 110 / 98 |
| Pasco | 2 | 0.0 (≈1 Closing Every 45 Days) | $1,077,502 / $1,077,502 | $1.01M – $1.15M | 3,192 / 3,192 | $382 / $523 | 31 / 31 |
| West Richland | 2 | 0.0 (≈1 Closing Every 45 Days) | $1,302,500 / $1,302,500 | $1.22M – $1.39M | 3,819 / 3,819 | $343 / $362 | 49 / 49 |
| Benton City | 1 | 0.0 (≈1 Closing Every 90 Days) | $1,800,000 / $1,800,000 | $1.80M – $1.80M | 4,645 / 4,645 | $388 / $388 | 1 / 1 |
| Prosser | 0 | 0.0 | N/A / N/A | N/A – N/A | N/A / N/A | N/A / N/A | N/A / N/A |
Key Takeaways
- Kennewick leads the Tri-Cities core with the highest sales count and the fastest closing pace, averaging one closing every 15 days.
- Richland exhibits a generally higher price per square foot, indicating more efficient use of space and premium demand in this market.
- Pasco represents relative value for buyers in this price segment, with lower average prices and moderate square footage compared to the core cities.
- West Richland has limited sales volume within the $1.00M–$2.00M range, suggesting a tighter supply or different market dynamic.
- Benton City contributes a notable higher-end sale, reflecting limited but significant activity outside the Tri-Cities core.
- Days on market tend to be quicker in Kennewick and Pasco, while Richland and outlying areas like Benton City show longer marketing times.