Walla Walla Valley Real Estate Update – June 2021
The Walla Walla Valley’s active real estate market continued as June became the busiest home closing month of the year. Here are a few key aways:
Closed home sales moved 5% ahead of last years pace: At the halfway point of 2021, home closings moved 5% ahead of the closings that occurred during the first half of 2020.
The real story was strong buyer demand: Through the first half of the year, housing inventory has been historically low. This sounds to some like there has been nothing to sell. But this has not been true. New listings came on the market daily. The real story is about strong buyer demand. New listings went under contract immediately leaving the number of available listings very low.
Upward pressure on price continued: As in prior months there were more buyers than sellers in the marketplace. Buyers often found themselves competing with other buyers in multiple offer scenarios with the sale going to the highest bidder – often above the seller’s list price. Through the first 6 months of the years this dynamic has pushed prices higher. The Walla Walla Valley’s median sales price increased 22% above last year’s median sales price during the same period.
June’s Listings: 94
This month’s number of listings increased 6% over the previous month but dropped 53% below the number of homes listed for sale in June of last year. There were 108 more homes listed for sale 12 months ago.
June’s Closing: 94
Monthly closings were up 52% over the previous month and ended 13% above the number of homes that closed during June of last year.
June’s Median Sales Price: $367,500
The month’s median sales price increased 1.5% over the previous month and was up 20% above the median sales price for June of 2020.
*WWMLS WA Data