Walla Walla Weekly Real Estate Update ZeroDown
Table of Content
Relative to Washington, our data show that Walla Walla's latest annual appreciation rate is higher than 90% of the other cities and towns in Washington. To be fair, housing prices have been rising pretty consistently in Walla Walla County over the past decade, especially in the past four years. Since fourth quarter of 2017, median home prices in the county have risen over 80% whereas the state average has only increased by 58%. Zillow's metrics aim to inform and support the decision-making process with relevant market data by measuring monthly market changes across various geographies and housing types.
Increases in home resale values leveled off towards the end of 2021, perhaps even if for a short respite. Although prices are not likely to fall, future increases might not be as steep as they have been in the last several years. ClimateCheck™ analyzes a property's risk from climate change using the latest modeling and data from climate scientists, universities, and federal agencies. Storm risk estimates how much climate change increases the chances of extreme precipitation, when a lot of rain or snow falls in a short time, including thunderstorms, snowstorms, and tropical cyclones. Heat risk estimates how much climate change might increase the typical number of hot days in a year and the likelihood of extreme heat and heatwaves. Percentages are based on the number of housing units for each type over the total number of units across all types.
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Access to affordable housing can be a boon to a local economy in its ability to attract and keep workers. To the contrary, higher housing prices can deter families from wanting to settle down in a local community. With a population of 34,060, 12,414 total housing units , and a median house value of $410,018, Walla Walla real estate prices are well above average cost compared to national prices.
Get started by checking out the most popular home & the most saved home by Better Homes and Gardens® Real Estate homebuyers in the last 30 days. When you are ready to explore homes, read what Better Homes and Gardens® Real Estate agents have to say about Walla Walla and discover homes for sale in Walla Walla. There are signs this week, however, that the real estate market is shifting ever so slightly toward the buyer. May data shows home builders have started lowering prices for newly built homes as demand has cooled.
Median list price
Fire risk estimates the risk of wildfires, based on the likelihood of burning in the future and the potential size and severity of a fire. Explore how many homes are likely to flood in nearby cities, compared to . Median home value is the value which has equal numbers of homes valued above and below it. The median home value is more stable than the average home value, which can be greatly affected by a few very high or very low home values. The most prevalent building size and type in Walla Walla are three and four bedroom dwellings, chiefly found in single-family detached homes.
The recent growth in home prices for the county has also outpaced other counties in eastern Washington. For the most part, the counties experienced increases below the state average. For example, in the last six quarters, Whitman County saw an uptick of only 16%, while prices in the counties of Benton, Franklin and Spokane grew 21%.
Walla Walla Housing Market Trends
The city has a mixture of owners and renters, with 50.83% owning and 49.17% renting. Stacker distribution partners receive a license to all Stacker stories, as well as image rights, data visualizations, forward planning tools, and more. If your organization is interested in becoming a Stacker distribution partner, email us at.
To help you stay current on the market, ZeroDown compiled a weekly real estate market report in Walla Walla, WA metro area using data from Redfin. Metros with more than 50 homes sold during this time period were considered for metro-level rankings for each statistic. Neighborhood appreciation rate data are based on transactions involving conforming, conventional mortgages. Conventional means that the mortgages are neither insured nor guaranteed by the FHA, VA, or other federal government entity. In November 2022, Walla Walla County home prices were up 2.4% compared to last year, selling for a median price of $409K.
Walla Walla County Market Trends
Click on the risks below to learn which exist in Walla Walla County today and how they’ll change by 2050. Click on the risks below to learn which exist in Walla Walla today and how they’ll change by 2050. To verify enrollment eligibility for a property, contact the school directly.
Our data are calculated and updated every three months for each neighborhood, city and town, approximately two months after the end of the previous quarter. Each quarter, Fannie Mae and Freddie Mac provide their most recent mortgage transactions to the FHFA. These data are combined with the data of the previous 29 years to establish price differentials on properties where more than one mortgage transaction has occurred.
These resultant neighborhood appreciation rates are a broad measure of the movement of single-family house prices. The appreciation rates serve as an accurate indicator of house price trends at the neighborhood level. Neighborhood appreciation rates from NeighborhoodScout are based on both median house value data reported by respondents via the U.S. Bureau of the Census, and a weighted repeat sales index, meaning that they measure average price changes in repeat sales or refinancings on the same properties.
Mortgages on properties financed by government-insured loans, such as FHA or VA mortgages, are excluded, as are properties with mortgages whose principal amount exceeds the conforming loan limit. Mortgage transactions on condominiums or multi-unit properties are also excluded. As such, NeighborhoodScout does not produce appreciation rates for neighborhoods that consist solely of renters or have no single-family homes . In the last 10 years, Walla Walla has experienced some of the highest home appreciation rates of any community in the nation. Walla Walla real estate appreciated 110.10% over the last ten years, which is an average annual home appreciation rate of 7.71%, putting Walla Walla in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Walla Walla definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
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