July 2022 Statistics

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 ...