Properties in the Tri Cities and surrounding areas continue to appreciate over the years.
Local labor statistics indicate a stable, steady economy, with an increase in non-farm employment. The mining, logging, and construction sectors pick up from the previous year, and the manufacturing, leisure, and hospitality sectors are the best performers with a 0.2% increase (preliminary, as of January 2014). The stable economy sustains a healthy properties industry, as value and sales continue to appreciate.
Value of Real Estate Properties
The average sold price for residences has increased to 464% over a 36-year period, from $45,000 in 1977 to $208,772 in 2013. At 9.03 houses sold daily in the previous year, appreciated value remains affordable for the areas in the Tri Cities, and the trend shows promise of a healthy housing market for 2014.
The Tri Cities offer opportunities, geography, and climate ideal for domestic living, and is one of 2010’s ten best places to raise a family (Kiplinger). Apart from the employment opportunities offered by the technology, service, agriculture, and manufacturing industries, the Tri Cities and the metropolis maintain a homey, grounded appeal for residents, guests, and outsiders. Public parks and a sprawling outdoors encourage weeklong activities; the region also boasts a climate of 300 sunny days. A healthy community, great geography, and climate contribute to healthy properties sector, especially in private residences.
Posted by Colleen D Lane on
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