Walla Walla Real Estate Update – May 2019

More sellers listed their homes for sale in May which brought a much-needed boost to the Walla Walla Valley’s listing inventory.  The number of listings grew 14% over the previous month and essentially equaled the number of homes available for sale 12 months ago.  Closed homes sales declined a bit from the previous month but remained quite active.  Yet at month’s end, annual homes sales were still 13% behind last year’s pace.

The valley’s median price jumped significantly from the previous month as more upper priced properties sold.  However, this year’s median price has increased by just 3% over last year.  Favorable interest rates continued to fuel buyer demand and new contract formation continued to be strong in May.  The number of pending transactions – homes under contract but not yet closed – increased 30% over the previous month.  This forward-looking indicator shows that the active market is continuing into the summer months.

 

May’s Listings: 264*

The month’s listings grew 14% over the previous month and equaled the number listed in May of last year.

 

May’s Closed Sales: 65*

Closed home sales slowed 7% from the previous month and 2% below the number that closed in May of last year.

 

May’s Median Price: $289,000*

The month’s median sales price took at 15% leap over the previous month but was just 4% above the median sales price for May of last year.

 

Click here for full a Monthly Statistics Report.

 

*WWMLS WA Data

Posted on June 12, 2019 at 8:41 AM
Firm - Windermere Walla Walla | Category: Market Trends | Tagged , , , , , , ,

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