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

If you are looking at homes for sale in Spokane or the surrounding area, you can search the Spokane MLS. You can use your own custom search criteria or the home search map feature. I teach a home buyer education class in Spokane where you can learn more about the home buying process including home mortgage and many different home loan programs available.

If you own a Spokane home that you are considering selling, 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

March, 2016

Here is the Spokane real estate market at a glance for March, 2016. Closed sales were about the same as a year ago. This March there were 495 single family homes on less than 1 acre sold and there were 497 the same time last year. Average price was up 12.2% and Median price was up 10.4%. Inventory was Down 19%.

Spokane real estate market number of closed sales last month

Distressed Home sales were also down. Distressed sales are short sales and bank foreclosures. Last March they accounted for 18.1% of home sales, this March they were down to 11.5%.

Spokane real estate market active listings

After more than 5 years of a challenging real estate market Spokane has finally seen things turn around. It was just a few short years ago that many home owners owed more on their homes than they were worth and they couldn’t afford to sell their homes. If they did try to sell them, they were usually overpriced. When life circumstances mandated that they move it would often result in a short sale or bank foreclosure.

Spokane real estate market average sale price

Over the past couple of years, the Spokane real estate market has been recovering. We are seeing prices and market activity that we haven’t seen in nearly a decade. As market values increase, more home owners can afford to sell their homes. Additionally buyers have confidence that they can buy a home and down the road they will see return on their investment.

Spokane real estate market median sale price

All signs indicate that the market will continue to be strong through the rest of the year and beyond. Median and average closed sale prices are a great indicator of the demand for housing . Active listings represent the inventory or supply of homes on the market at any given time. Consistently, month after month the supply has been down from the same time the year before and the closed sale prices have been up.

The laws of supply and demand certainly indicate that the market will stay strong for quite some time. Of course we will see the usual seasonal trends in both prices and market activity. These seasonal trends are very easy to predict when you look at the charts on this page.

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The Lower Spokane Falls and the Washington Water Power building