Realtor.com® came out with their top hottest housing markets for May 2017 and guess who was on that list…Kennewick! Not only did it make the list, but it took 5th place out of all the cities around the nation.
It’s no surprise that the Tri-Cities housing market made the list with all the growth and expansion that we have been seeing recently. Homes are selling like hotcakes and the inventory is still low. Not to mention, the three rivers, the hiking, and outdoor recreation opportunities that abound in our area. This includes fishing, boating, camping, hunting, jet skiing, water skiing and more!
The article stated that ,”the median list price is 10 percent higher than a year ago.” For the first time ever, the report said that, “The nationwide median home list price rose above $250,000.” This is due to the high demand and low supply. It’s basic economics and this increase in demand is fueling the higher prices sellers are seeing.
Isn’t it amazing how quickly home values have risen in the past year? Due to that, there is no better time to buy or sell a rental property or start renting yours out. If you have been thinking about it the first step is to talk to one of our Property Managers and have the come over and take a look at your rental property. They will then be able to give you an estimate on what you could rent it out for based on the current market and other homes that are similar to yours.
However, if you are interested in selling your rental they can get you in touch with a Realtor for a property value analysis. This is called a CMA – Current Market Analysis – and is free! There is no obligation on your part to sell your home either. Knowledge is power and this will help you in making the right decision for you and your situation. This is a service we proudly provide to the community. Call today 509-735-4042 to talk to one of our property managers.
1920 N. Pittsburgh St., Suite A
Kennewick, WA 99336
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