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Walla Walla Real Estate Update – January 2024
Real Estate market activity remained slow in accordance with seasonal patterns however January saw in increase in listings, closed sales, and median sales price in the Walla Walla Valley.
Home sales saw a better start than last year. While home sales typically are slower during the first months of the year, closed home sales experienced a 42% increase over January of last year. Interest rates at the end of the month were 6.69% which was an improvement over last November’s rate of 7.1%.
Inventory grew modestly. While many sellers are reluctant to give up their three or four percent interest rates. Listings experienced some growth. The year began with 7% more homes listed for sale than were available a year ago.
Median Sales Price increased. The Walla Walla Valley’s median price edged up 3% over the previous month but experienced a year-over-year gain of 17%. However, prices are expected to grow more moderately through the rest of the year.
January’s Listings: 147
The number of homes listed for sales grew 20% over the previous month and 7% over the number of homes that were listed for sale a year ago.
January’s Closed Sales: 30
Closed home sales increased 3% over the previous month and 42% above the number of closed home sales for January of last year.
January’s Median Sales Price: $387,000
The month’s median sales price grew 3% over the previous month and was 17% higher than the median price for January of last year.
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*NWMLS WA Data
