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Walla Walla Real Estate Update – February 2025
As monthly home closings heated up, February’s chilly weather had a cooling effect on new transactions and new listings in the Walla Walla Valley. Here are a few highlights:
Home Closings Surged Forward. After a slow start in January, closed home sales more than doubled the previous month’s closings. Though the first two months of the year, closed home sales were 5% ahead of the previous year’s pace. At the same time, February’s ice and snow seemed to put a freeze on new contract originations. At month end, there were 39 pending transactions compared to 55 a year ago – a decline of 29%.
Inventory remained low. While the number of listings on the market experienced a slight increase over the previous month, the market inventory levels remained low. There were just 2.74 months of inventory compared to 4 months of inventory in February of last year.
Price growth was modest. The median sales price grew 3% higher than the previous year’s median sales price. The expected spring increase in inventory is expected to keep price growth modest going forward.
February’s Listings: 143*
The months listings increased 7% over the previous month but remained 8% below the number of homes that were listed in February of last year.
February’s Closed Homes Sales: 45*
Closed home sales surged 125% over the previous month and ended 41% ahead of the number of homes that closed in February of last year.
February’s Median Sales Price: $435,000*
The month’s median sales price remained on par with the previous month but was 6% lower that the median sales price for February of last year.
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*NWMLS WA Data
