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Inventory Builds, Buyers Gain Leverage as Spring Approaches
As we wrap up February 2026, the Walla Walla Valley housing market continues to shift in favor of buyers. Inventory is climbing, homes are taking longer to sell, and closed prices are coming in well below asking. Whether you’re buying, selling, or simply keeping an eye on the market, here’s your data-driven look at where things stand heading into spring.
February 2026 At-a-Glance
| Feb 2026 | vs. Jan 2026 | vs. Feb 2025 | |
|---|---|---|---|
| Active Listings | 167 | +6.4% | +56.1% |
| Closed Sales | 44 | +83.3% | +4.8% |
| Avg. Sale Price | $471,897 | +0.6% | -6.8% |
| Median Sale Price | $400,000 | -7.0% | -8.0% |
| Months of Inventory | 3.71 | Buyer-Friendly | |
| Avg. Days on Market | 72 | Down from 90 in Jan | |
| Close-to-List Ratio | 97.9% | Room to Negotiate | |
Source: NWMLS Statistical Reports. Data deemed reliable but not guaranteed.
Market Trends to Watch
Inventory Remains High
Active listings totaled 167 in February 2026—up 56.1% from just 107 listings in February 2025, and a 6.4% increase over January’s 157. This pushes months of inventory to 3.71, well above the balanced market threshold when compared to the tight conditions we saw in 2024 and early 2025. For comparison, February 2024 had only 109 listings and February 2023 had 135. The trend is clear: buyers now have a broader selection than at any point in recent years.
List Prices Up, But Lower-Priced Homes Drive Transactions
Sellers continue to set ambitious asking prices—the median new listing price in February was $507,500, up sharply from $459,500 a year earlier. However, the median closed price fell to $400,000, down 8.0% from February 2025’s $435,000 and down 7.0% from January 2026’s $430,000. The average sale price of $471,897 also declined 6.8% from February 2025’s $506,302, though it held essentially flat versus January. This growing gap between list and closed prices signals that buyers are negotiating discounts or that lower-priced homes are driving the majority of transactions.
Market Time Improving But Still Elevated
Homes averaged 72 days on market in February, above pre-2024 norms but an improvement from January’s 90-day average. This shows some signs of warming as we head into the spring selling season, particularly for well-priced properties. The close-to-list price ratio of 97.9% confirms that most transactions are closing slightly under asking—meaning negotiation room exists, but realistic sellers are still getting deals done.
Buyer Demand Still Muted
February saw 44 closed sales—up strongly from January’s 24 closings (an 83.3% month-over-month jump, consistent with normal seasonal patterns), and up 4.8% from February 2025’s 42. However, only 35 new pending contracts were recorded, and the absorption rate sits at just 0.269, signaling that overall demand remains tempered compared to the robust pace of mid-2025. Year-to-date, 68 homes have sold at an average price of $470,454.
February Inventory: Year-Over-Year Comparison
| February | Listings | Closings | Median Price |
|---|---|---|---|
| 2023 | 135 | 25 | $385,000 |
| 2024 | 109 | 32 | $462,500 |
| 2025 | 107 | 42 | $435,000 |
| 2026 | 167 | 44 | $400,000 |
February 2026 shows the highest February inventory in four years while maintaining healthy closing activity. The median price pullback from 2025 levels suggests buyers are finding value in the current market.
What Does This Mean for You?
If You’re Buying:
This remains an excellent time to be in the market. With 167 active listings, 3.71 months of inventory, and homes averaging 72 days on market, you have increased negotiating power and a broader selection than buyers have enjoyed in years. With closed prices running well below list prices and a close-to-list ratio of 97.9%, you can be strategic and expect concessions or price reductions. Take your time, compare options, and negotiate confidently—the data supports your position.
If You’re Selling:
Competition is stronger than it’s been in years—homes are taking longer to sell, and buyers are securing discounts off asking price. The gap between median list prices ($507,500) and median closed prices ($400,000) underscores the importance of pricing realistically from day one. Preparing your home well for listing, being open to negotiation, and considering strategic price adjustments will be crucial to attract qualified buyers and avoid extended time on market. Work with your agent to price based on recent closed data, not just active listing prices.
Long-Term Average Sale Price Trend
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 YTD |
| $279,928 | $299,753 | $337,906 | $404,573 | $470,200 | $476,125 | $477,848 | $497,489 | $470,454 |
The 2026 YTD average of $470,454 through 68 sales is tracking below the full-year 2025 average of $497,489, reflecting the seasonal mix of winter transactions. Long-term, average prices have appreciated 67.9% since 2018.
Curious About Your Next Move?
Every property and situation is unique, and personalized guidance can help you navigate the changing market landscape. If you’re thinking of buying, selling, or simply wondering what your home is worth in today’s market, don’t hesitate to reach out. I’m here for consultations, market updates, or any real estate questions you have—just send a message or call anytime!
Here’s to making smart, confident moves in 2026!
Data is from sources deemed reliable but is not warranted by NWMLS members. All information compiled from MLS Statistical Reports. Listing and selling brokers are not responsible for errors in data.
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*NWMLS WA Data
