Go Spokane Real Estate

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Go Spokane Real Estate

Welcome to Go Spokane Real Estate where you will find up to date information on the Spokane housing market and resources for both home buyers and sellers.

Homebuyer Education

Zero Out of Pocket Financing
home buyer education

I teach a Washington State Housing Finance Commission sponsored Homebuyer Education class. I co-teach this 5 hour class with a trusted lending professional from Umpqua Bank. This is a free class. Not only is there a lot of great information for the perspective home buyer, but class completion is required for eligibility to receive a 0% interest state bond loan to cover down payment on your home mortgage.

Next Class: Saturday, April 18, 2015 10:00am to 3:30pm on the South Hill

Register for next class

Spokane Real Estate Market

March 2015 Market Activity

The Spokane Association of Realtors has released the numbers for March, 2015. The Average and Median sale price of homes sold in the month of March are both down from the month before. But, that is fallowing the best February that we have had in 8 years. When you compare both of these statistics to the March of last year, you can see that they are both up. Looking back to the year before, you will notice a consistent price increase over the past two years, indicating continued market improvement.

Spokane real estate market median sale price

Where the average and median sale price are both showing an increase from the year before, you will notice that there is a stronger increase with the median sale price. When a market is recovering, it is normal to see median price homes make the fastest recovery. More expensive properties will have a little stronger influence on the average statistic, and they typically experience a little slower recovery.

Spokane real estate market average sale price

There is also every indication that we will enjoy continued market improvement here in Spokane. When you look at the number of active listings, you will see that they are down from the same time last year. Active listings represents inventory. This does not mean that sellers are not listing their homes; it means that homes are selling. The number of closed sales from the month before has an effect on the number of active listings the fallowing month.

Spokane real estate market number of closed sales last month

When you take a look at the number of closed sales, you will notice that they are not only up from the same time last year but they are also up significantly from the month before. As mentioned before, that is going to have an impact on the active listings of the fallowing month.

Spokane real estate market active listings

Keeping in mind that active listings are supply and closed sales represent demand, we can see that we will likely have continued market improvement on into the summer. Even more important than a steady price increase is the increase in market activity. Every successful sale requires a seller and a buyer. When you have sellers that are selling and buyers that are buying, it makes for a healthy housing market.

The Lower Spokane Falls and the Washington Water Power building