TRI-CITIES AREA HOUSING MARKET DATA

There was a decrease in total units sold in August, with 119 sold this month in Tri-Cities Area Real Estate versus 125 last month, a decrease of 5%. This month's total units sold was lower than at this time last year, a decrease of 14% versus August 2024.

Versus last year, the total number of homes available this month is higher by 10 units or 3%. The total number of active inventory this August was 316 compared to 306 in August 2024. This month's total of 316 is lower than the previous month's total supply of available inventory of 330, a decrease of 4%.

Last August, the median sale price for Tri-Cities Area Homes was $250,000. This August, the median sale price was $273,000, an increase of 9% or $23,000 compared to last year. The current median sold price is 1% lower than in July.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

In August, there was 2.7 months of supply available in Tri-Cities Area, compared to 2.2 in August 2024. That is an increase of 20% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

This month there were 161 homes newly listed for sale in Tri-Cities Area compared to 203 in August 2024, a decrease of 21%. There were 130 current contracts pending sale this August compared to 124 a year ago. The number of current contracts is 5% higher than last August.

In August, the average sale price in Tri-Cities Area was 99.2% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 27, higher than the average last year, which was 25, an increase of 8%.





FOCUS ON: TRI-CITIES AREA HOUSING MARKET			AUGUST 2025

Zip Code(s): 23803, 23805, 23834 and 23860
Units Sold 119	Active Inventory 316	Median Sale Price $273,000	Days On Market 27

Down -14% Vs. Year Ago	Up 3% Vs. Year Ago	Up 9% Vs. Year Ago	Up 8% Vs. Year Ago


		Units Sold There was a decrease in total units sold in August, with 119 sold this month in Tri-Cities Area Real Estate versus 125 last month, a decrease of 5%. This month's total units sold was lower than at this time last year, a decrease of 14% versus August 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 10 units or 3%. The total number of active inventory this August was 316 compared to 306 in August 2024. This month's total of 316 is lower than the previous month's total supply of available inventory of 330, a decrease of 4%.
		Median Sale Price Last August, the median sale price for Tri-Cities Area Homes was $250,000. This August, the median sale price was $273,000, an increase of 9% or $23,000 compared to last year. The current median sold price is 1% lower than in July. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 161	Current Contracts 130	Sold Vs. List Price 99.2%	Months of Supply 2.7

Down -21% Vs. Year Ago	Up 5% Vs. Year Ago	No Change Vs. Year Ago	Up 20% Vs. Year Ago


		Months of Supply In August, there was 2.7 months of supply available in Tri-Cities Area, compared to 2.2 in August 2024. That is an increase of 20% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts This month there were 161 homes newly listed for sale in Tri-Cities Area compared to 203 in August 2024, a decrease of 21%. There were 130 current contracts pending sale this August compared to 124 a year ago. The number of current contracts is 5% higher than last August.
		Sale Price to List Price Ratio In August, the average sale price in Tri-Cities Area was 99.2% of the average list price, which is similar compared to a year ago. Days on Market This month, the average number of days on market was 27, higher than the average last year, which was 25, an increase of 8%.


	Tri-Cities Area are defined as properties listed in zip code/s 23803, 23805, 23834 and 23860 .
	*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
	Information included in this report is based on data supplied by CVRMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of CVRMLS or Long & Foster Real Estate, Inc.