Real estate prices are rising here in the Tri-Cities, and Action News has some information for residents about why they're so high along with some advice from a real estate agent.

According to a local real estate agent, Cari McGee, the median home price in the Tri-Cities in August is $400,000.

She said this is due to supply and demand in the area. With a small amount of homes on the market and a lot more people wanting to buy, this is driving prices in our area to what McGee is calling an "all-time high".

She told Action News that although more homes are being built, this doesn't mean prices will go back down.

"We've had four months of increasing inventory which has been great news, but the homes available are still just around 300 houses, and a normal market would be over a thousand. So to just still have this small amount of inventory does not mean there's relief coming our way anytime soon," said McGee.

She said that lately homes have only been staying on the market for days, or in some cases even hours.

She told Action News that because of this, people should be pre-approved and ready to go. She also recommends having your first offer be your best offer, since you will probably be competing against other buyers.

McGee says if you plan on selling your home or land to talk to a real estate agent and get help with the process to make sure you get your property sold smoothly.

For more information on the housing market and data, you can visit the Cari McGee Real Estate Team's website by clicking here.