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 June 01, 2021 to June 30, 2025.
Analysis from Justin Cofer
June 2025 recorded 19 closed single-family home sales in Pullman with a median sold price of $457,500. Compared to June 2024, which saw 30 sales with a median of $496,000, both sales volume and median pricing declined year over year. This shift reflects affordability constraints that limited buyer participation at higher price points, resulting in a heavier concentration of mid-tier closings. While June’s results show cooling relative to last year, they do not signal a breakdown in demand—rather, they reflect buyers adjusting to sustained rate pressure and exercising pricing discipline.
June Five-Year Comparison
• June 2021: 40 sales — $422,000
• June 2022: 40 sales — $461,000
• June 2023: 27 sales — $539,000
• June 2024: 30 sales — $496,000
• June 2025: 19 sales — $457,500
Market Interpretation & Context
Year-Over-Year Volume Decline:
June 2025 closed 11 fewer homes than June 2024, indicating slower absorption as affordability limits constrained move-up and discretionary buyers.
Median Price Context Matters:
The lower median reflects transaction mix rather than broad value erosion, with fewer upper-tier sales contributing to the result.
Rate Sensitivity Persists:
Buyer demand remains present but highly sensitive to mortgage rates, which continue to cap purchasing power across higher price brackets.
Mid-Tier Market Dominance:
Sales activity concentrated in the middle of the market, supporting overall stability but limiting upward price pressure.
Year-to-Date Perspective
Through the end of June, 2025 has recorded 111 closed single-family home sales with a median price of $485,000, compared to 96 sales with a median of $494,500 over the same period in 2024. This indicates that year-to-date transaction volume is higher in 2025, but pricing is essentially flat to slightly lower, reinforcing that increased activity has been driven by timing and buyer participation rather than appreciation.
Summary
June 2025 reflects a Pullman market transitioning from early-year momentum into a more rate-constrained summer pattern. While June itself underperformed last year, year-to-date sales activity remains higher than 2024, with pricing holding steady overall. The data points to a market where demand exists but is increasingly selective, and where pricing outcomes are shaped by affordability and transaction mix rather than upward pressure.