2008 beat out 2007′s new construction numbers to the tune of about $26 million.  This is mostly due to a huge commercial venture by Batelle.  But, housing dollars were up, too.  In 2008, an average newly built home in Richland averaged $276,932, which is up 2.6% from the year before.  This helps support the oft-repeated refrain uttered by agents in the Tri-Cities, “You can expect a general increase in home value of between two and four percent a year.”

228 new homes were built in Richland last year, mostly in south Richland.  17% of the new homes built in Richland were in northern Richland (Horn Rapids), and 4% were built in central Richland.  I wonder if they’re including the Waterford Place condos in the central Richland number, because what else was built in central Richland, home-wise?

I got these stats from the City of Richland’s web site.  They have weekly updates giving you the scoop about Richland.

Thank you for reading this article on the Richland Real Estate Blog. If you arrived here looking for specific real estate information, or would like to speak with a friendly, fun, and professional real estate agent, please contact Cari via her web site or call her directly at 509 – 430 – 5342 and she’ll be glad to help. Thanks again for visiting!