Spokane Real Estate Market
Record month in real estate in Spokane Washington
The Spokane housing market set records in the number of homes sold as well as highest the average prices in June 2017.
There were 944 closed sales on single family homes on less than one acre sold in June. Compared to June last year with 798 closed sales, we are 18.3% higher this year.
With a year to date of 3,509 closed sales so far this year, Spokane is up 7% over the same time last year when we sat at 3,278.
The average sales price for June was up 7.6% from June 2016. Last month the average sale price for a single family home on less than one acre in Spokane County was $233,756 and last year it was $217,256 the same month.
Year to date the average is $223,258 compared to $208,778 for the same period of time last year. That is an increase of 6.9%.
The median sales price for June this year was $217,000. That's up 10.3% from June last year with a median sales price of $196,749.
The year to date median sales this year is $205,000. This number is up 7.9% when compared to the same time last year with a median sales price of $190,000.
Inventory is better but still quite low. At 1,871 this year compared to 2,081 last year at this time there are 10% fewer homes on the market for buyers to choose from.
New construction sales are 14.4% behind last year. There have been 333 new homes sold this year, compared to 389 by this time last year.
written by:Todd Hays