Market Trends July 13, 2018

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.