Spokane Market Trends - July 2018

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Spokane

COLDWELL BANKER TOMLINSON A B E T T E R W AY T O S E L L R E A L E S T A T E

MARKET TRENDS

Spokane Associationofof REALTORS® Spokane Association REALTORS® YEAR END HOMEHOME SALESSALES REPORT 2018 MONTHLY REPORT JULY 2017

SALES UP 10.2%

UNIT UP Closed salesSALES of single family homes7% on less than one acre

including condos for July 2018 homes total 896on compared Closed sales of single family less thantoone acre July 2017 when the total was 813. including condos for 2017 total 8,137 compared to 7,601 for 2016.

AVERAGE PRICE UP 10.4%

The average closed price for July 2018 was $259,300 compared to AVERAGE PRICE UP 7.8% July 2017 when the average price was $234,960.*

The average closed price for 2017 is $228,732 compared to $212,189 for 2016. *

MEDIAN PRICE UP 8.3%

The median closed price for July 2018 was $235,000 compared to July 2017 when the median price was $217,000.*

MEDIAN PRICE UP 7.7% *NOTE: Does not represent home values.

The median closed price for 2017 is $210,000 compared to $195,000 for 2016. *

INVENTORY DOWN

*NOTE: Does not represent home values.

Inventory is down 25.8% compared to July 2017. Current inventory, as of this report totals 1,466 properties which represents a 1.6 months supply.

INVENTORY DOWN NOTE: Months supply based on closed sales for July.

Inventory is down 12.6% compared to last year. Current inventory as of this report totals 1,010 properties which represents a 1.6 months supply.

DISTRESSED SALES DOWN

NOTE: supply based on closed sales for December. SalesMonths of Distressed homes accounted for 3% of sales in

2018 compared to 4.3% in July 2017.

July

NOTE: Information comes from the SAR’s Monthly Activity Report which looks at single family residential/site built properties on less than one acre and condominiums.

NOTE: Information comes from the SAR’s Monthly Activity Report which looks at single family residential/ site built properties on less than one acre and condominiums.


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