Housing

Housing Market

Average Sold Price (February 2023) $452,100
Median Sold Price (February 2023) $435,000
Number of Active Residential Listings (SFR, February 20231) 525
Average Apartment Rent (2 Bedroom, 2 Bath) $974
Source: Tri-City Association of Realtors, February 2023 Data, ACCRA Cost of Living Index, 2022 Annual Average Data, Published February 2023

2023 Residential Housing Statistics

Month Active Listings Total Sold Average Sales Price Median Sales Price Under Contract
Jan 545 177 $443,800 $414,000 246
Feb 1525 197 $452,100 $435,000 288
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Source:  Tri-City Association of Realtors, February 2023 Data

Residential Building Permit Statistics

February 2023
2023 Year-to-Date  2022 Year-to-Date 2021 Year-to-Date
  Permits Valuation Permits Valuation Permits Valuation Permits Valuation
Benton County 5 $2,722,000 8 $3,608,120 28 $8,412,282 33 $11,799,109
Franklin County 2 $393,445 4 $999,904 7 $2,568,210 15 $5,454,336
Kennewick 26 $9,161,559 50 $17,667,770 32 $11,118,606 36 $11,785,972
Pasco 8 $2,142,335 30 $7,506,289 42 $12,692,062 75 $21,189,867
Richland 13 $4,085,326 16 $5,811,243 59 $22,531,693 77 $26,785,633
West Richland 6 $2,865,290 12 $5,049,370 25 $7,662,350 57 $18,310,671
Prosser 1 $343,651 4 $1,189,547 14 $4,551,883 4 $990,290
Benton City 1 $220,000 1 $220,000 2 $242,137 0 $0
Connell 3 $481,662 3 $481,662 0 $0 0 $0
Total SFR 65 $22,415,268 128 $42,533,905 209 $69,779,223 297 $96,315,878
Source: Home Builders Association of Tri-Cities and Walla Walla, February 2023 Data