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Real Estate Dashboard for September 2012

October 6, 2012 By Jeff Thompson Leave a Comment

SEPTEMBER FAST FACTS

• September active listings are 1430, up 9.5% compared to last year this time

• 323 new properties went under contract, 9.5% higher than September 2011

• 225 closings, 13.1% lower than last year this time

• Average sales of homes is $202,738, up $1,243 from the same time in 2011

• Months of Inventory is 6.4, compared to 5.0 months in September 2011

• Inventory is up, pending sales are up, and closed sales are down 13.1%

• 55 new homes were sold

• New Construction Inventory was 234

OUR COMMENTARY

The Tri-City real estate market continues to move along at a very rapid pace. Even with the layoffs at the Hanford site, buyer activity remained strong, exceeding August of 2011 by nearly 22%. While buyers are making offers, closings are becoming more predictable and exceeded August of 2011 by 11%. Our home inventory continues to remain steady at just over 1400 homes, with new construction accounting for 16%.

If you have any real estate questions just call or drop me an email and I will be happy to help.

Filed Under: For Buyers, For Sellers, Home Prices, Home Sales, Interest Rates, Kennewick, Market Trends, New Construction, Pasco, Pricing, Richland, Short Sales, West Richland

Real Estate Dashboard for August 2012

September 6, 2012 By Jeff Thompson Leave a Comment

AUGUST FAST FACTS

• August active listings are 1432, up 3.2% compared to last year this time

• 357 new properties went under contract, 21.8% higher than August 2011

• 286 closings, 11.3% higher than last year this time

• Average sales of homes is $202,594, up $979 from the same time in 2011

• Months of Inventory is 5.0, compared to 5.4 months in August 2011

• Inventory is up, pending sales are up, and closed sales are up

• New Construction sales were 62

• New Construction Inventory was 378

OUR COMMENTARY

The Tri-City real estate market continues to move along at a very rapid pace. Even with the layoffs at the Hanford site, buyer activity remained strong, exceeding August of 2011 by nearly 22%. While buyers are making offers, closings are becoming more predictable and exceeded August of 2011 by 11%. Our home inventory continues to remain steady at just over 1400 homes, with new construction accounting for 26%.

If you have any real estate questions just call or drop me an email and I will be happy to help.

Filed Under: Articles, Home Prices, Home Sales, InfoGraphic, Interest Rates, Kennewick, Market Trends, New Construction, Pasco, Pricing, Richland, West Richland

Real Estate Dashboard for July 2012

August 24, 2012 By Jeff Thompson Leave a Comment

JULY FAST FACTS

▪ July new listings are 1456, up 5.3% compared to last year this time

▪ 347 new properties went under contract, 21.8% higher than July 2011

▪ 264 closings, 4% fewer than last year this time

▪ Months of Inventory is 5.5, compared to 5 months in July 2011

AVERAGE SALES PRICES

▪ Average sales prices of homes in the Tri-Cities is $204,162, $1,772 higher compared to the same time in 2011

▪Growth has been consistent. The average sales price in the Tri-Cities has increased 6% from 2008

OUR COMMENTARY

The Tri-Cities real estate market continues  to experience consistent activity, much like the consistent sunny weather that we enjoy in the Tri-Cities. Our inventory is up, the number of pending sales are up but the closings are down slightly.

In July, Kadlec Regional Medical Center was honored as the #5 hospital in the nation according to a Consumer Reports survey.

The Tri-Cities Airport reports an increase in boardings and there is consistent talk and buzz around the innovation center and the expansion of the Department of Energy campus.

We are experiencing multiple offers situations in the price range of $130,000 to $170,000 and the Fountain Hills development of 110 lots located in West Kennewick near the mall received final plat approval in July with all of the lots being spoken for by local builders.

If you have any real estate questions just call or drop me an email and I will be happy to help.

Filed Under: Articles, Benton City, Burbank, For Buyers, For Sellers, Home Prices, Home Sales, Interest Rates, Investment, Kennewick, Market Trends, New Construction, Pasco, Pricing, Richland, West Pasco, West Richland

Real Estate Dashboard for April 2012

May 16, 2012 By Jeff Thompson

Tri-Cities, April 2012

The Tri-Cities had 384 new properties go under contract in April 2012, up 22% from April 2011. As of the end of April 2012, active inventory was 1284, a 13.8% increase from April 2011. There were 231 closings in April 2012, compared to 255 in April 2011. Months of Inventory was 5.6, up from 4.4 in April 2011. The average price of homes sold April 2012 was $199,242, $3020 higher than the same time in 2011.

Our Commentary

The number of homes for sale continues to increase as the weather warms up. Historically, more homes come on the market during the spring and summer than other times of the year. We have a good variety of new and resale homes for sale, and interest rates continue to be at all-time lows. There is good buyer activity in our market, offers are being made and accepted by the sellers. Our struggle continues with getting the loans closed. We are seeing continued pressure on the lending institutions by government regulations and oversight. Unfortunately, we see this trend continuing throughout the summer. Overall, with good market activity and contracts being written and accepted, patience is still needed in getting transactions to closing.

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Filed Under: Articles, Badger Mountain South, Benton City, Burbank, Central Richland, Finley, For Buyers, For Sellers, Home Prices, Home Sales, Homeownership, Interest Rates, Investment, Kennewick, Market Trends, North Richland, Pasco, Pricing, Richland, South Richland, West Pasco, West Richland

Real Estate Dashboard for February 2012

March 15, 2012 By Jeff Thompson

Tri-Cities, February 2012

The Tri-Cities had 334 new properties go under contract in February 2012, up 19.7% from February 2011. As of the end of February 2012, active inventory was 1162, an 18.7% increase from February 2011, but consistent with inventory levels for the 4th quarter of 2011. There were 167 closings in February 2012, compared to 170 in February 2011. Months of Inventory was 7.0, up from 5.8 in February 2011. The average price of homes sold February 2012 was $203,108 up $4,666 from the same time in 2011.

Our Commentary

As we look at the market statistics, we still see consistent activity and excellent buyer traffic. Our biggest challenge is closing the properties. Lenders and underwriters continue to struggle closing transactions, forcing extensions on contracts, and in some cases, the cancellation of transactions. Great interest rates, increased inventory and affordable prices provide an excellent buying opportunity. Buyers just need to stay the course and be patient with their lenders to get their purchases closed.

For more information about homes for sale in Kennewick, Richland, West Richland, Pasco and the surrounding communities, please contact us.

Click Here for Your Real Estate Dashboard

Filed Under: Articles, Badger Mountain South, Benton City, Burbank, Central Richland, Events, FHA, Finley, For Buyers, For Sellers, Foreclosures, Home Prices, Home Sales, Homeownership, Interest Rates, Investment, Kennewick, Market Trends, Mortgage Payment, Negative Equity, North Richland, Pasco, Pricing, Richland, Shadow Inventory, Short Sales, Short Sales & Foreclosures, South Richland, Uncategorized, Upper End, Walking Away, West Pasco, West Richland

Real Estate Dashboard for January 2012

February 15, 2012 By Jeff Thompson

Tri-Cities, January 2012

The Tri-Cities had 245 new properties go under contract in January 2012, up 9% from January 2011. As of the end of January 2012, active inventory was 1128, an 18.2% increase from January 2011, but consistent with inventory levels for the 4th quarter of 2011. There were 152 closings in January 2012, compared to 161 in January 2011. Months of Inventory was 7.4, up from 5.9 in January 2011. The average price of homes sold January 2012 was $204,551 up $12,533 from the same time in 2011.

Our Commentary

The new year has started off strong and robust. Sales activity is very strong with 245 offers written and accepted in January. This is a nice increase from 2011, and over 100 more sales than January 2009.

Interest rates remain low and should stay there through the summer of 2013. We believe that owning a home will always be a great long term investment and an important part of a balanced investment portfolio.

For more information about homes for sale in Richland, West Richland, Pasco, Kennewick  and the surrounding communities, please contact us.

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Windermere Group One/Tri-Cities
490 Bradley Blvd.
Richland, WA 99352

Filed Under: Articles, Badger Mountain South, Benton City, Burbank, Central Richland, Dean Hartman, Events, FHA, Finley, For Buyers, For Sellers, Foreclosures, Home Prices, Home Sales, Homeownership, Interest Rates, Investment, Kennewick, Loans, Market Trends, Mortgage Payment, Negative Equity, North Richland, Option ARMs, Pasco, Pricing, Richland, Shadow Inventory, Short Sales, Short Sales & Foreclosures, South Richland, Strategic Defaults, Uncategorized, Upper End, Walking Away, West Pasco, West Richland

700 Happy Feet!

December 5, 2011 By Jeff Thompson

Windermere Group One has organized a shoe drive for children in Afghanistan. Our military doctors help teach English to the local children in Afghanistan. Through a family connection, the Group One office learned of the need for shoes for the children. Many of them are unable to participate in the education opportunity due to a lack of basic needs. The goal was to collect 100 pairs of new or gently used children’s shoes to ship to the Kandahar base in December, just in time for Christmas.

The participation in this drive was overwhelming! The agents and staff headed out to start the drive and were so encouraged they began to invite others too. Quickly, the boxes were filled and more were added. In tandem with the holiday spirit, the Dress Family representing Ranch and Home, learned of the effort and they, too, wanted to participate in the shoe drive.

The donation by Ranch and Home was HUGE! They were able to donate almost 200 pairs of brand new shoes! In all, Windermere Group One will be shipping approximately 350 pairs of shoes along with several dozen pairs of socks to many children a world away. In addition to the shoe drive, the Group One office is sponsoring two Tri City families for Christmas.


 
Windermere Group One thanks everyone for their participation and help!

 

Filed Under: Articles, Badger Mountain South, Benton City, Burbank, Central Richland, Dean Hartman, Events, FHA, Finley, For Buyers, For Sellers, Foreclosures, Home Delinquency, Home Prices, Home Sales, Homeownership, Interest Rates, Investment, Kennewick, Loans, Market Trends, Mortgage Payment, Negative Equity, North Richland, Option ARMs, Pasco, Pricing, Richland, Shadow Inventory, Short Sales, Short Sales & Foreclosures, Skills, South Richland, Strategic Defaults, Uncategorized, Upper End, Walking Away, West Pasco, West Richland

Santa Claus is Coming to Town

November 16, 2011 By Jeff Thompson

Don’t forget to mark your calendar! Santa arrives December 3rd at 9:30 until noon at our Richland office. Come get your picture with Santa and enjoy hot chocolate, Kettle Corn and cookies.

See you there!

Windermere Group One
490 Bradley Blvd., Richland

Click here for a  map

Filed Under: Articles, Badger Mountain South, Benton City, Burbank, Central Richland, Dean Hartman, Events, Finley, For Buyers, For Sellers, Foreclosures, Home Delinquency, Home Prices, Home Sales, Homeownership, Interest Rates, Kennewick, Loans, Market Trends, Mortgage Payment, Negative Equity, North Richland, Pasco, Pricing, Richland, Shadow Inventory, Short Sales, Short Sales & Foreclosures, South Richland, Strategic Defaults, Uncategorized, Upper End, Walking Away, West Pasco, West Richland

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