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 real estate market. Here you will find valuable resources whether you are looking to buy or sell a home in the Spokane area.

If you are looking to buy a home in Spokane County, you can search the Spokane MLS. You can use your own custom search criteria or the home search map feature. In addition to information about the home buying process you will find information about home finance and many different home loan programs available.

If you own a home in the Spokane area, you will find information to help decide if now the right time to sell. Here you will see the latest statistics regarding the Spokane real estate market. There is also information that will help you price your home correctly and understand the importance of a good marketing plan.

Spokane Real Estate Market

August 2015 Market Activity

After the strongest summer selling season in almost a decade, the Spokane real estate market has started to slow down. As the days get shorter and the kids return to school we can expect the home sales in Spokane Washington drop off a bit.

Spokane real estate market number of closed sales last month

Closed sale in August dropped off a little over 9% compared to June; which was the highest volume month in closed sales in quite a few years. With the number of active listings going down too, there is about 3.5 months' worth of inventory of homes for sale in Spokane. 3.5 months' worth of inventory would normally be considered a pretty strong sellers' market, but when you look at the rest of the picture you can see that prices will continue to come down.

Spokane real estate market active listings

The next few months would be a great time for buyers who have been out of the game to get back in. The houses that were priced a little high earlier in the season have likely had a few price reductions. After too much time on the market, a simple price reduction does not rejuvenate buyers' interest. Normal seasonal price drops, a stale inventory and frustrated sellers can make for a seasonal buyers' market. As a buyer, it is important to understand that this is a seasonal phenomenon that won't last. Next spring there will be another house feeding frenzy and we will have a sellers' market once again.

Spokane real estate market median sale price

Sellers, this simply means hole up for the winter if you can. Unfortunately, life doesn't always wait for real estate market trends; if you need to sell, you need to sell. Been there!

Spokane real estate market average sale price

What we are talking about here is seasonal trends. If you look at these charts for the past three years, you can get a pretty good feel for what's going on. This isn't rocket surgery! Whether you are a buyer or seller, use the seasonal trends to your advantage.

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The Lower Spokane Falls and the Washington Water Power building