Walla Walla Valley Real Estate Update – September 2021
The Walla Walla Valley’s housing market remained active with gains in new listings and year-over-year gains in closed sales and prices.
Listings edge higher for 5th month in a row. While still historically low, the number of homes listed for sale experienced another monthly increase. The market is still categorized as a strong seller’s market but the increase was a welcome sign for buyers.
Closings are still 3% ahead of last year’s pace. Historically low-interest rates, pent-up buyer demand, job and lifestyle changes continue to drive the real estate market. While monthly closings were down from the previous month, year-to-date closed sales remained 3% ahead of last year’s pace. Pending sales increased by 6% during the month which points to active closing months ahead.
3rd Quarter’s Median price experienced a year-over-year gain of 25%. In September, prices experienced a monthly decline but strong buyer demand along with low inventory levels have pushed prices higher year-over-year. The 3rd quarter’s median sales price of $377,417 was 25% higher than the median sales price for the 3rd quarter of 2020.
September’s Listings: 170
Listings increased 4% over the previous month but remained 10% below the number of homes listed for sale in September of last year.
September’s Closings: 57
Monthly closings dropped 31% from the previous month and were 23% below the number of homes that closed in September of last year.
September’s Median Sales Price: $355,000
The month’s median sales price dropped 10% from the previous month but was 9% higher than the median sales price for September of last year.
*WWMLS WA Data