Dear Preferred Clients and Friends,
Heading into the summer months marks the beginning of the optimistic time in the Walla Walla Valley. Long days and wonderful weather make us all acutely aware of why we love this place. July 1 marks the beginning of the summer season and so this seems a good time to reflect on where the real estate market has been.
Statistics indicate that the low point in volume in the local real estate market was in 2009. MLS statistics through the first half of 2010 report that total market volume has increased by 60% compared to the same period in 2009, while the average price of properties selling remains very stable. This good news has to be taken in context, keeping in mind that for the same period 2009 was less than half of volume in 2008, which was down 60% from 2007 (in turn down 28% from the all time peak sales volume in 2006). Taken in the right context, we can be cautiously optimistic about the fact that 2010 marked the first time since 2006 that there was an increase in sales volume for the first half of the year. It appears that our destination location - our wine country market place is following the trend reported where activity has picked up significantly over the past year in unique areas like like Walla Walla.
Locally, anecdotal reports are that the number of people looking for all types of property is better than it has been in two years. The new season has brought a significant number of new listings onto the market, many that have not been listed in recent years. Typically these owners are very realistic about pricing as they step into the market with eyes wide open. Check our website at www.PreferredWW.com or visit us at our new office location at 307 S. 9th Ave., Walla Walla, WA.
As always. . .My best,
Trisha Bush, Broker/Owner
Comments(2)