Walla Walla Real Estate Update – October 2018

With just two reporting months left in the year, 2018 is poised to be the second busiest real estate year in Walla Walla’s MLS history.  2016 currently holds the record for the most annual MLS home sales and 2017 holds the record for the second most.  Through October of this year, home sales were 4% ahead of the pace from a year ago, but there were signs that the market is slowing a bit.  October’s pending sales – homes under contract but not yet closed – declined by 14%.

Lawrence Yun, National Association of Realtors’ chief economist, reported that most of the country experienced “another month of rising inventory on a year-over-year basis”.  However, this trend has not occurred in the Walla Walla Valley where inventory has remained low.  At months end, year-over-year listings were 9% less than October of 2017.

Low inventory levels continued to put upward pressure on prices and the current seller’s market continued for homes under $600,000.  Through October, the annual median sales price had increased 9% over the previous year to $248,481.

We continue to experience a moderately active market with buyers and sellers looking to make a move before year-end.

October’s Listings: 271*

The number of listings declined 2% from the previous month and was 9% below the number of homes available a year ago.

October’s Closed Sales: 67*

Monthly home sales stayed even with the previous month but were 13% below the same month of last year.  As mentioned above, annual homes sales were still 4% ahead of last year’s pace.

October’s Median Price: $259,500*

The months median sales price increased by just $2000 over the previous month but was 14% higher than the same month of last year.

Click Here to View the Full Year to Date Statistic Charts

*WWMLS WA Data

Posted on November 14, 2018 at 3:41 PM
Firm - Windermere Walla Walla | Category: Market Trends | Tagged , , , ,

Walla Walla Real Estate Update – September 2018

Walla Walla Valley home sales slowed in September which is typical during this time each year as many buyers focus on summer vacations and back to school activities.

Inventory declined during the month and remained 8% below the number of homes listed for sale a year ago.  Low inventory levels have been caused, in part, by sellers who were excited about the prospect of receiving good offers on their property but were reluctant to list for fear of not being able to find their next home.

In spite of low inventory levels, Walla Walla has experienced a strong market through the first nine months.  At month end, annual closed sales were 6% ahead of last years pace.  The seller’s market continued to put upper pressure on prices.  Year-to-date, Walla Walla’s median price has increased by 9% over the previous year.

We expect activity to pick up this fall prior to the Holiday Season as both buyers and sellers look to make changes and/or additions to their real estate holdings before year end.

September’s Listings: 277*

The month ended with 2% fewer listings than the previous month and 8% fewer than the number of homes listed for sale 12 months ago.

Septembers Closed Sales: 67*

Closed home sales declined 21% from the previous month.  But as mentioned above, this is typical for the month of September.  Closed sales were just 6% off the total for September of last year.

September’s Median Price: $257,500*

The months median price had a slight drop of 1.3% from the previous month but was significantly up from last September’s median sales price of $209,500.

View the full Monthly Statistic Charts

*WWMLS WA Data

Posted on October 12, 2018 at 2:46 PM
Firm - Windermere Walla Walla | Category: Market Trends | Tagged , , , ,

Walla Walla Real Estate Update – August 2018

August 2018 Monthly Stats Header Image

 

Hot weather and smoky skies did not slow home sales in August.  The month tied June for the most monthly home sales of the year in the Walla Walla Valley.  But a decline in pending sales and an increase in listing inventory suggested the market had slowed just a bit.  Pending sales – homes under contract but not yet closed – stayed even with the previous month but were down 18% from the pace set earlier in the summer.  However, at month end, annual sales were still 7% ahead of last years pace.

Listing inventory grew during the month to the highest level in 10 months, but remained historically low for our market.  The number of homes listed for sale was down 6% from the number available 12 months ago.

As reported in previous months, low inventory continued to put upward pressure on price.  The month’s median price was 13% higher than in August of last year.  However, rising interest rates and home prices have not yet damped buyer’s demand for Walla Walla valley homes and our year is on track to be the 2nd most active annual market in our MLS’s history.

August’s Listings 284*

The month’s listing inventory grew by 7% over the previous month but there were still 6% fewer homes listed than were available 12 months ago.

August’s Closed Sales: 84*

Monthly closed home sales increased by a single sale over the previous month and were within 1 closing of the number that closed in August of last year.

August’s Median Price: $261,000*

The month’s median sales price held level with the previous month but was 13% higher than the median price for the same month of last year.

View the full Monthly Statistic Charts

*WWMLS WA Data

Posted on September 14, 2018 at 9:49 AM
Firm - Windermere Walla Walla | Category: Market Trends | Tagged , , , ,

Walla Walla Real Estate Update – July 2018

Rising interest rates and home prices haven’t slowed buyer activity in the Walla Walla Valley yet.  July was the 2nd busiest month of the year for closed home sales.  At month end, annual homes sales were 8% ahead of last years pace.

Just enough listings came on the market in July to replenish the inventory that sold.  However, the trend of year-over-year listing declines continued.  There were 20% more homes listed for sale 12 months ago.  The seller’s market continued for homes under $600,000 and listing inventory remained just below the 2 month level for the cities of Walla Walla and College Place.

Prices continued to move upward.  At months end, Walla Walla’s median and average sales prices were 10% higher than the same period 12 months ago.  Pending sales – homes under contract but not yet closed – declined 18% from the previous month.

While buyer activity remained strong, there were signs that the market is slowing a bit.  Pending sales – homes under contract but not yet closed – declined 18% from the previous month.  This typically happens in July as people focus on summer activities and vacations.  However, we expect the market to remain very active as summer ends and we head into fall.

July’s Listings:  265*

The month’s listings ended on par with the previous month and but dropped significantly from the same period of last year.  There were 20% more homes available 12 months ago.

July’s Closed Sales:  82*

Monthly homes sales nearly matched the previous month’s pace and finished 14% ahead of home sales for July of last year.

July’s Median Price:  $259,700*

The month’s median price edged up 1% over the previous month as was 10% higher than the median price for July of last year.

Click here for Monthly Charts.

*WWMLS WA Data

Posted on August 20, 2018 at 9:37 AM
Firm - Windermere Walla Walla | Category: Market Trends | Tagged , , ,

Walla Walla Real Estate Update – June 2018

Through the first half of the year Walla Walla’s Real Estate Market has experienced active sales, low inventory, and rising prices.  2017 was the second most active real estate market in Walla Walla’s MLS history but at the end of June, home sales were 6% ahead of last years pace.  June was the single busiest month for home closings yet this year.

Inventory remained low but did not experience a month-over-month decline as enough new listings were brought to market during the month to replace those that sold.  The seller’s market continued, especially for homes under $600,000.

Year-to-date, Walla Walla’s median price was $241,185 – a 6% increase over the previous years median price.  Thus far, rising prices coupled with increasing interest rates have not dampened buyer activity.  We expect the active real estate market to continue through the summer.

June’s Listings: 265*

Even after a busy closing month, the month ended with essentially the same number of active listings as the previous month.  Listings were down 7% from the number of homes available at the same time a year ago.

June’s Closed Sales: 81*

June’s closings increased 20% over the previous month and equalled the number that closed during June of last year.

June’s Median Price: $257,000*

June’s median price settled 8% from the previous month and was 3% higher than June of last year.

Click here for June’s Charts.

*WWMLS WA Data

 

Posted on July 13, 2018 at 9:11 AM
Firm - Windermere Walla Walla | Category: Market Trends | Tagged , , ,

Walla Walla Real Estate Update – May 2018

Strong buyer activity continued during the month of May in the Walla Walla Valley.  Closed homes sales slowed slightly from the previous month’s pace but May still became the 2nd busiest month of the year.  Thus far, annual home sales are 8% ahead of last years pace.

Heading into summer, two important things to watch will be inventory levels and rising prices.  While inventory remained low in May, new listings came on the market to replenish those that sold.  The month ended with a net listing increase of 6%.  Yet, the trend of year-over-year listing declines continued.  Walla Walla’s listing inventory was 14% lower than the number of homes listed for sale 12 months ago.

Low inventory levels coupled with strong buyer demand continued to put upward pressure on prices.  May’s median price of $279,000 represented a 23% increase over the previous month.  The sharp monthly increase was caused by a decrease of homes sold under $200,000 coupled with the the number of home sold in the upper price ranges of our market.  The upper priced segment of our market is strengthening.  Ten of the homes that closed in May were above $400,000 including two above $800,000.

May’s Listings: 266*

The month ended with 6% more listings than the previous month.  However, the trend of year-over-year inventory declines continued.  There were 44 more homes for sale in May of last year.

May’s Closed Sales: 67*

The month experienced a 14% decline in closed sales from the previous month and was 7% below May of last year.  Yet, year-to-date sales are 8% ahead of last years pace during the same period.

May’s Median Price: $279,000*

The months median price was one of the highest monthly totals ever in Walla Walla.  This was due to an increase in the closings of more upper priced homes than in previous months.  For the year, Walla Walla’s median price has increased 5% over last year.

Click here for May’s monthly charts.

*WWMLS WA Data

Posted on June 13, 2018 at 11:54 AM
Firm - Windermere Walla Walla | Category: Market Trends | Tagged , , ,

Annual Windermere Community Service Day – 2018

Every year since 1984, Windermere associates have dedicated a day of work to complete neighborhood improvement projects as part of Windermere’s Community Service Day.

The 2018 Community Service day was held on June 8th. Our office spent the morning working in our community to make things a little brighter for our neighbors by staining benches downtown, cleaning & weeding downtown tree wells, and helping at YWCA Family Shelter.

Creating vibrant communities is one of the things that inspire all of us at Windermere to be involved in Community Service Day as it gives us an opportunity to give back to the communities where we live and work.

After all, real estate is rooted in our communities. And an investment in our neighborhoods gives us all a better place to call home.

Posted on June 8, 2018 at 4:12 PM
Firm - Windermere Walla Walla | Category: Community

Walla Walla Real Estate Update – April 2018

 

April became the most active month for real estate this year.  The month’s 77 home sales made it one of the busiest Aprils ever for the Walla Walla Valley.  By month end, closed home sales had surged 12% ahead of last years pace through the same reporting period.

At the same time, enough new listings came on the market to replenish those that sold.  The month ended with the same number of listings as the previous month.  Inventory remained low, but this trend may be shifting.  For the second month in a row, the Walla Walla Valley had more listings than the previous year.  Listing inventory experienced a year-over-year monthly gain of 1%.

The seller’s market continued for Walla Walla as buyer demand remained strong, especially for homes under $400,000. While most buyers would have preferred more homes to look at, Walla Walla maintained just enough inventory to keep price increases moderate.  Through the first four months, Walla Walla’s median price increased 4% over the same period a year ago.

April’s Listings: 252*

The month ended with the same number of listings as the previous month, and there were 3% more homes listed for sale than were available 12 months ago.

April’s Closed Sales: 77*

Monthly home sales jumped 37% over the previous month and 57% over April of last year.  This was one of the most active Aprils in Walla Walla’s history.

April’s Median Price: $226,362*

April’s median price declined by 5% from the previous month.  On the year, Walla Walla’s median price is 4% higher than the same period of last year.

Click here for April 2018 Charts.

*WWMLS WA Data

 

Posted on May 14, 2018 at 3:36 PM
Firm - Windermere Walla Walla | Category: Market Trends | Tagged , , ,

Annual Windermere Bowling Fundraiser – 2018

Windermere Real Estate/Walla Walla’s annual Windermere Foundation bowling fundraiser. Thank you to all of our sponsors and participants!
Posted on April 25, 2018 at 4:16 PM
Firm - Windermere Walla Walla | Category: Community

Walla Walla Real Estate Update – March 2018

 

Sellers brought their homes to market in March and the buyers were ready. The Walla Walla Valley experienced a monthly increase in both home sales and listings. Exceptionally low inventory levels continued to put upward pressure on pricing. Walla Walla’s median sales price increased for the 2nd consecutive month to $238,000.

Here is how the 1st Quarter of this year compared with the 1st Quarter of last year: Closed home sales remained steady  but are 3% behind last years pace. Prices increased modestly. The Quarter’s median home sale price increased 3% over the same period of last year. The interesting story was listings. For the first time in 16 months, the number of homes listed for sale experienced a year-over-year monthly gain. Although by a slim margin, March ended with 1.5% more listings than Walla Walla had 12 months ago. We expect this trend to continue as more sellers list their homes in preparation for Walla Walla’s active Spring buying season.

March’s Listings: 257*

March’s listings increased by 11% over the previous month and by 1.5% over March of last year. This was the first year-over-year monthly increase in 16 months.

March’s Closings: 55*

The months closings increased significantly (37%) over the previous month but was 11% behind the number of closing for March of last year.

March’s Median Price: $238,000*

The months median price increased by 6% over the previous month and was also 6% higher than March of last year.

Click here for March 2018 Charts.

*WWMLS WA Data

 

Posted on April 12, 2018 at 4:16 PM
Firm - Windermere Walla Walla | Category: Market Trends | Tagged , , ,