Market Trends May 14, 2018

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.