October’s closed home sales rebounded from the previous month making it the third busiest closing month of the year for the Walla Walla Valley. Homes sales pulled within 8% of last years pace. October’s new listings replaced the number of homes that closed during the month keeping month-end numbers on par with the previous month. However, the trend of monthly year-over-year listing declines continued. At month’s end, there were 14% fewer listings than were available 12 months ago. Lower inventory levels this year has put upward pressure on prices. Year-to-date, the median price has increased by 5% over the previous year.
Like most of the country, buyer demand remained strong in Walla Walla. Lawrence Yun, NAR chief economist, says “The stock market run-up, along with the continued stretch of home growth and mortgage rates under 4 percent, have kept buyer activity at a very robust level.”
October’s listings: 298*
Listings held steady with the previous month but ended down 14% from the number of homes available 12 months ago.
October’s Closings: 75*
Closing increased 7% over the previous month and 25% over October of last year.
October’s Median Price: $227,500*
The median sale price increased 9% over the previous month and was 6% higher than October of last year.
Click here for October Charts.
*WWMLS WA Data