Homebuyers got a head start over home sellers in the month of January. January’s real estate activity saw home sales surge 20% above the number of sales that occurred in January of 2019, but the real story was the continued decline in the number of listings. For the first time in more than 20 years, the number of homes listed for sale in the Walla Walla MLS dropped below 200 – a 12% decline from the number of homes listed for sale a year ago. Historically, the 2nd and 3rd quarters are the busiest listing periods in the Walla Walla market, but right now more listings would be a welcome sign for buyers.
The median sales price jumped 17% above the median price for the same period a year ago but favorable interest rates kept buyers active. And while there are signs that more sellers are preparing their homes for market, January’s low inventory levels indicated that the seller’s market will continue well into 2020.
January’s Listings: 192*
The month’s listings dropped 11% below the previous month and ended 12% below the number of listings at the same time a year ago.
January’s Closed Sales: 53*
The months closed sales declined 2% from the previous month but was 20% above the number that closed in January of last year.
January’s Median Sales Price: $276,000*
The month’s median price increased 6% above the previous month and was 17% above the median price of the previous January.
Read the full January real estate activity report
See the end of the year report for 2019
Get Economic Updates from Windermere Cheif Economist, Matthew Gardner
*WWMLS WA Data