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Walla Walla Real Estate Update – February 2024
There was cautious optimism as seasonal changes took shape. The real estate market remained slow in Walla Walla in accordance with typical seasonal patterns but there were signs of increased activity as winter began to transition into spring.
Closed home sales and pending transactions were ahead of last year. While sales are typically slower in the early months of the year, year-to-date home closings were 30% ahead of last year’s pace. There was an increase in new transactions as well. Pending home sales were 8% more than a year ago.
Buyers had more homes to consider than a year ago. At month end there were 17% more homes available for sale than were available a year ago. And inventory is expected to continue growing into March.
Home sales increased in the upper price ranges. The median sales price jumped 20% over a year ago as more Walla Walla homes in the upper price ranges went under contract and closed.
February’s Listings: 158
The number of homes listed for sale increased 7% over the previous month and ended up 17% above the number of homes listed for sale a year ago.
February’s Closed Sales: 30
Closed home sales matched the previous month but were up 20% over a year ago.
February’s Median Sales Price: $462,500
The median sales price surged 20% above the previous month and was also 20% above the median sales price for February of last year.
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*NWMLS WA Data
