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The number of sold homes year over year (YOY) is a down about 20% from last year. The number which shows 2 months of increase YOY is inventory – number of homes on the market. August was the 1st time in almost 2 years that there were more than 100 homes on the market in the Walla Walla Valley (102) and September is showing the same trend with 101 homes for sale.There is still low inventory in most price ranges (less than 4 months) but, for a 3rd month in a row, some higher price ranges show more than 5 months of inventory and some ranges are considered a Buyer’s Market. With higher interest rates comes less buying power and ...

As we come into the last days of summer, it’s that back to the regular schedule for many. Kids are back in school. Summer vacation travel comes to an end. You can start to smell the change of season in the air.We are also at the end of about 1 year since the shift in interest rates started to impact home sales. As we have run through a hectic summer of a shifting real estate market, we naturally look for indications things will return to normal. However, as much as humans are creatures of habit, accepting that life is full of continual change can also be our super power.Inventory is low, so we assume that high demand will continue to ...

The Dog Days of summer are nearly behind us. Days are getting shorter and the days of extreme heat are lessening.Whether it's the Dog Days or summer vacationing, we often see a reduction in the number of sales in July and/or August. This July (52 closed sales) continued this trend with sales down about 25% from June (68 closed sales). This might be why July showed a couple price ranges moving to an Average Market (6 months of inventory) or even a Buyer's Market (7+ months of inventory) due to decreased demand in those price ranges.*Is this the start of a trend of less demand and more inventory for Buyers?If you're a Buyer, that is always the hope. But, every other ...

As we head into summer, we continue to see low inventory and rising interest rates.And the news can make it feel like the sky is falling. Chicken Little anyone? A fearful reaction to an acorn landing on his head.As I talk to people about their home purchases and sales, it's helpful to think about these moves as a piece of the home ownership experience. Mortgage brokers and lenders use the phrase "Marry the house and date the rate". Real estate agents will tell you, "Your first property will build equity to your forever home." Your tax accountant will encourage you to "Consider the tax incentives."Home ownership is a big picture experience with input from multiple sources helping to ensure the ...

There is some potential shifting in a few price ranges … at the end of May, there were a few price ranges that moved out of the Seller’s Market category and moved into the Average Market (3-5% appreciation) and Buyer’s Market (depreciating).Is there going to be a slow down in the market? That might be the question you are asking.When we see an increase in available homes compared to number of sales it is also helpful to factor the number of pending home sales in that price range. Here is a quick way to see where the market may be shifting:April to May     Sold: Increase of 76%                    Pending: Increase of 52%      ...

We are solidly in the busy real estate season and The Numbers are in for April!Number of sales per month since March has exceeded the winter months and new listings which are well priced and in good condition continue to sell quickly.If you’re a Seller, pricing your home well will ensure short days on market and little negotiation with an average list to sale price of 100%.If you’re a Buyer, the competition is fierce so it’s still important to be pre-qualified with a lender … or cash.Speaking of cash, of the 37 sales which closed in April, 17 were cash. That is nearly half. This follows the national trend with 50% of homeowners without a mortgage. Of the rest of homeowners ...

March sales showed the typical seasonal increase in sales – more than double from February sales. Buyer demand is still high in comparison to the amount of inventory – almost every price range has less than 2 months of supply. When the amount of inventory is 4 months or less, it is considered a Seller’s/Appreciating Market. That is the case in every price range except for $900,000 - $949 999. Every other price range has low inventory.For Sellers, this means that there should be lots of competition for your home. A well-priced home in good condition will sell quickly. If you are on the market for more than 1 month without being under contract, a price adjustment might be needed. ...

The listing season has started – the number of new listings doubled from January to February. Buyers are still out looking for homes with the number of pending sales staying strong from January to February. The number of PENDING sales has been exceeding the number of new listings.This is keeping the inventory low – below the 4 months of available homes. This means that in every price range the inventory is a Seller’s Market and home values continue to appreciate. The appreciation is not expected to be at the same level as the last couple of years … but still ahead of an average market (3-5% a year).It is still a very good time to list a home.One factor which ...

The Numbers are in for the Walla Walla Valley!The Walla Walla Valley continues to have a low inventory ... even with January producing 73 New Listings and only 21 Closed Sales. That means New Listings were 3+ times the number of closed sales and there is still less than 2 months of inventory in almost every price range.We have a long way to go before seeing an even market (appreciation rate of 3-5% and 5-6 months of inventory).If you want to sell a home it is a very good time. You are competing against a low number of homes.If you want to buy a home, be ready with a strong financing plan and a broker with strong negotiation skills.We can ...

The Numbers are in...The Walla Walla Valley still has low inventory despite higher interest rates than a year ago. As some cities report housing value drops, Walla Walla housing demand is still higher than supply. The rate of appreciation may have slowed down but not to a point of depreciation.That's good news for Sellers. But, the good news for Buyers is the reduction of interest rates --- expected to be as low as 5%+/- by the middle of the year. Call us to understand if now is your time to make a move.