Monthly Market Overview — Pullman Single-Family Median Prices
This report summarizes median sale prices for single-family homes in Pullman based on information from the Pacific Regional Multiple Listing Service (our local MLS) for the period of February 01, 2021 to February 28, 2025.
Analysis from Justin Cofer
February 2025 recorded 17 closed single-family home sales in Pullman with a median sold price of $510,000, making it the most active February in the past five years. Sales volume materially exceeded prior February totals, which typically ranged from 8 to 11 closings, confirming that buyer demand remained elevated beyond a typical winter surge. While the median price did not exceed the $560,000 outlier seen in February 2023, that earlier figure was skewed by a small, upper-tier sample. February 2025’s median is supported by a meaningfully larger number of transactions, making it a more reliable indicator of current market conditions. The data reflects front-loaded, rate-sensitive demand rather than broad-based appreciation.
February Five-Year Comparison
• February 2021: 9 sales — $415,000
• February 2022: 8 sales — $473,500
• February 2023: 8 sales — $560,000
• February 2024: 11 sales — $459,900
• February 2025: 17 sales — $510,000
Market Interpretation & Context
Sales Volume Breakout:
February 2025 posted the highest February sales count in at least five years, confirming that buyer participation remained strong well into the winter season rather than being limited to a single month.
Median Price Context Matters:
While not the highest February median on record, February 2025’s pricing is more statistically meaningful than February 2023 due to nearly double the number of transactions supporting the median.
Rate-Driven Timing:
Buyers continued to act during a period of mortgage rate volatility, accelerating purchases that would typically occur later in the spring market.
Composition Over Appreciation:
The elevated median reflects a healthy mix of mid-tier and upper-tier closings rather than uniform price escalation across all market segments.
Summary
February 2025 stands out as an unusually strong winter month for Pullman, posting the highest February sales volume in five years and a median price well above long-term February norms. The results support the conclusion that early-year activity in 2025 was driven by accelerated buyer participation during a brief window of rate relief, not by speculative pricing pressure.