Neighborhood Profile: Whitman College

This is the first edition of a new feature on this blog, the neighborhood profile. The goal here is to spotlight a few local niches and share some very specific market statistics drawn only from that area.

First up: Whitman College

Close proximity to our prestigious hometown liberal arts college is almost always considered a very good thing, and the neighborhoods surrounding Whitman do indeed boast some of Walla Walla's most charming and beautiful tree-lined streets. That being said, let's look at the numbers...

Geographic area: 1/2 mile radius around Whitman College
Number of 2007 home sales: 46
Average list price: $214,865
Median list price: $186,950
Average sale price: $208,942
Median sale price: $186,700
Low sale price: $109,900
High sale price: $520,000
Average number of days on market: 115
Average size: 1918 sq. ft.

Sales by month:

ANALYSIS

Off hand I might have predicted a higher average sales price for this area (which turns out to be a little below Walla Walla's overall average). However, with such a range in prices ($109,900 to $520,000!) it's clear that this area includes a diverse selection of housing options.

That's it for this first neighborhood profile. If you have an area you'd like to see spotlighted feel free to let me know.

Dump this House! How to Sell Fast

This brief article offers a few tips on how to sell your home quickly, no matter what market you're in.

It's actually very good advice.

Tips range from the essential, such as why you shouldn't keep making small price reductions, to the highly creative, like putting your home on eBay or renting a local billboard.

You can read the full article HERE.

December + 4th Quarter + Year End Statistics

December 2007 Statistics
December 2007 Charts
4th Quarter 2007 Statistics
Year End 2007 Statistics

Year end statistics for 2007 in the Walla Walla Valley are out.

Looking at sales of single family residential homes from 2006 to 2007...

• Average sales price increased 11.8% ($215,448 to $240,928)
• Number of sales fell 12.1% (629 to 553)

What is the outlook for 2008? Well, with inventory still very high and Fed Chairman Ben Bernanke promising additional rate cuts it looks like it's going to be a great time to BUY.

Seriously, let's think about it. Prices are holding steady or rising, there's so much to choose from, interest rates are great, and the Walla Walla buzz just keeps on buzzing. I predict that a few years from now we'll look back at 2008 and remember it as a year of great opportunity.

Walla Walla in the Wall Street Journal

That's a lot of W's...

Walla Walla's wine industry continues to receive national attention- this time in the Wall Street Journal. In the Journal's January 4 edition the story, "How a College's Budding Vintners Helped Walla Walla Create a Buzz" graces the front page of the Marketplace section.

The article covers the success of the Enology and Viticulture Program at the Walla Walla Community College. To read the full text of the article click HERE. You can also watch a short video HERE.