Top 10 of 2024 Real Estate

Top Ten of 2024 REAL ESTATE STYLE
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*Most Expensive Celebrity Story we have done: James Jannard, who founded designer sunglasses brand Oakley, broke California’s residential real estate sales record this past June when he sold his Malibu mansion for $210 million, surpassing Beyoncé and Jay-Z’s previous record of $190 million in 2023
TOP Ten
10. "US Home Prices Increase Again" & "Homeowners Enjoy Windfall Profits"
9. Sun Pacific Energy owned by the Eerkes family sell their retail, dealer wholesale and Transportation assets to Idaho based PacWest Energy - then you have 5 months later they re-invest into Tri-Cities and purchase the Canyon Lakes Golf Course
8. Chick-Fil-A - breaks ground in Tri-Cities Washington!
7. In high end home building and luxury homes the rage now is the “Costco” door - this is a half door in the garage, that opens right into your pantry, so that when you come home with groceries etc, you can slide them right into the pantry without walking all the way around through the house. Home gyms and peloton rooms still rule the high end side of the luxury market as well.
6. HGTV has been in Tri-Cities on multiple occasions over 2024 - we had listed and sold a house in West Richland Last year that ended up being a finalist and contender for a $150,000 dollar makeover - and it was featured on their show Ugliest Houses in America! They have also been in town filming with Ashley Martin for upcoming episodes of House hunters - so more national exposure for the Tri-Cities.
5. Hottest Markets Overall:
• Austin, Texas - 72.8 (Tie)
• Kansas City - 72.8 (Tie)
• Philadelphia - 72
• Omaha, Nebraska - 71.9
• Houston - 71.8
4. Amazon opened one of the facilities and started construction of the third - this has led a boom of industrial building in North pasco which includes plans moving forward for a casino by the colville tribes, another new truck stop, and the progression of the 600 million dollar Darigold plant.
3. Costco Breaks ground on the second Costco in Richland after the Pasco rumor debacle that went down. The main store will be 182,700 square feet and cost about $25 million to build, according to building permits. In addition to the store, Costco has applied for permits to install various signs and a 12,300-square-foot fueling station with 32 positions, canopies and underground fuel tanks. The gas station has a construction value of $2.2 million and its own address, 750 Kingsgate Way. Lydig Construction is the contractor, permit records show.
2. Mortgage Rates drop from a high of 7.5% to roughly 6.5% as inflation eased. This changed affordability in the market drastically as it increased buying power in the 4th quarter.
1. We talked about it a lot this year - but the industry move with commission lawsuits to break up the buyer commission from the seller commission, and the National Association of Realtors settling that lawsuit. An overhaul in Washington agency Law at the beginning of the year, and new rules implemented in August drove the decisions of thousands of agents across Washington.
Tri-Cities Real Estate Update with Lance Kenmore
Contact Lance at 509.727.8977 | Office 509.735.1025
9025 W Tucannon Avenue, Kennewick WA 99336
Air Date: 12/28/2024 on Newstalk 870 KFLD