By DON FENLEY
The Tri-Cities new home market showed momentum in November. More homes were sold and median prices rose compared with the same month last year.
A total of 51 home sales closed last month, up from 44 sales in November 2024. At the same time, the median home sale price increased from $344,265 last year to $359,989 last month.
Looking beyond the headline price, home size played a noteworthy role in November’s market dynamics.
The average home sold during November last year measured 1,824 square feet, with buyers paying about $193 per square foot. By November 2025, the average home size increased to 2,055 square feet, while the average cost per square foot declined to roughly $182.
This tells an important story. Last month’s buyers weren’t simply paying more for the same homes – they were purchasing larger homes, spreading higher prices over more space. That shift helped soften the impact of rising prices and kept value in check on a per-square-foot basis.
Homes in HOA-governed communities continued to anchor the new home market. Last month, 35 (68.6%) of the closings involved HOA properties, compared with 32 HOA sales last year.
And on the cost side of the equation, HOA fees were up.
The average HOA fee rose from $305 in November 2024 to $336 in November 2025. That’s an increase of just over 10% in one year. It’s also almost double the 4.6% price growth. That pace reflects higher insurance, maintenance, and operating costs rather than new amenities.
For buyers, that means monthly ownership costs – especially in HOA communities – deserve closer attention, even when the purchase price feels manageable.
The market isn’t cheaper, but it is finding ways to stay functional, even as costs rise.
Categories: REAL ESTATE
The HOA fee increase also puts downward pressure on affordable loan qualifications as it’s part of the formula lenders use to calculate payment ratio for underwriting the loan amount a buyer can qualify for IE taxes, insurance and HOA fees. I think that is still the case and PMI ?