Monthly home sales slowed a bit in the Walla Walla Valley as many focused on back to school activities. However, both pending sales and the number of homes listed for sale increased. The number of pending sales – homes under contract but not yet closed – grew 6% over the previous month. While annual home closings are 10% behind last years pace, the number of pending sales are 28% higher than August of last year. This indicates that the market should be quite busy for the remainder of 2019.
So far, this year’s median price has increased 6% over the previous year. However, interest rates remain historically low and most brokers expect favorable conditions for both buyer and sellers to continue through the fall.
August’s Listings: 320*
Monthly listings grew 6% over the previous month and 13% above the number of homes available in August of last year.
August’s Closed Sales: 70*
Monthly closings fell 24% off of the previous month’s pace and 18% below the number of closing for the same period a year ago. The number of pending sales indicate busier closing months are ahead.
August’s Median Price: $261,600*
August’s Median Price jumped 9% over the previous month and 11% above August of the previous year.
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*WWMLS WA data