Market Trends September 14, 2021

Walla Walla Real Estate Update – August 2021

Walla Walla Valley Real Estate Update – August 2021


A strong seller’s market continued in the Walla Walla Valley but another monthly increase in listings indicated a market shift is underway.

Monthly Listings Edged higher for the 4th month in a row.  The number of homes listed for sale increased again in August.  While still at historic lows, housing inventory moved up to 5 weeks’ inventory from May’s low of just 1 week.  In addition, Brokers reported a decline in the number of multiple offers their listings are generating along with an increase in the number of days a listing was on the market before receiving an offer.  All points to a shift back towards a more normalized market.

New record high set for the monthly median sales price.  The increase in inventory did not slow price growth.  August was the 4th month in a row to experience an increase in the median sales price.  Though the first 8 months of the year, the median sales price has increased 18% over last year’s median price.

Closed Homes Sales moved 7% ahead of last year.  August was the 3rd busiest closing month of the year as year-to-date sales continued to outpace the previous year through the same period.  Pending sales – homes under contract but not yet closed – decreased 4% from the previous month but remained at a very active level.  We expect the market to remain robust through the fall.


August’s Listings: 163

The month’s listings grew 14% over the previous month but were 15% below the number of homes listed for sale during August of last year.

August’s Closings: 80

Closed home sales declined 5% from the previous month but ended 18% above the number of homes that closed in August of last year.

August’s Median Sales Price: $396,250

The month’s median sales price increased 4% over the previous month and ended up 29% higher than the median sales price for August a year ago.


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Click here for the full August report

Hear Housing and Economic Updates from Chief Economist Matthew Gardner