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.

December

1878

1491

2014 283 288 384 February 439 2104 551 2093 601 1685 626 1094 609 924 504 562 455 507

2015 343 325 494 March 554 2270 647 2162 766 2162 755 1268 694 1018 657 591 437 597

2014 13% 14% 17% February 17% 288 20% 325 21% 339 21% 335 21% 19% 403 22% 20% 27%

2015 18%

1156

Spokane Residential Listings

1010

3500 3000 2500 2000 1500 1000 January 500 February March0 January April 2014 2098 May 2015 1907 June 2016 1543 July 2017 1153 August 2018 946 September October November December

April 2523 2307 1934 1457 1165

Spokane Residential Closed Sales

1000 900 800 700 600 500 400 January 300 February 200 100 March 0

April May2014 June2015 July 2016 2017 August 2018 September October November December

January 283 343 352 378 464

16%

23%

March24%

Spokane Odds of Selling

27% 31% 495 30% 555 29% 602 29% 29% 23% 40%

April

384

439

494

554 585 525 608

2016 352 339 495 May 585 2745 702 2423 792 2044 751 1686 821 1389 781 665 2014 608 664

2017 378 335 555 June 525 2811 770 2466 944 2081 806 1871 903 1422 743 20158032016 705 628

2016 23% 20% 23% 30%May 34%551 38%647 36%702 40%770 41%758 39% 2014 44% 57%

2017 32% 31% 43% June 36% 601 45% 766 50% 792 41% 944 45% 39% 917 47% 2015 2016 52% 63%

2018 464 403 602 July 608 2918 758 2493 917 2114 896 1977

August

September

October

November

December

2835

2712

2501

2236

1878

2400

2293

2073

1866

1491

2035

1898

1709

1390

1156

2014

1918

1709

1360

1010

September

October

November

December

504

562

455

507

657

591

437

597

1466 2017

2018

2018 49% 44% 59% July 52% August 626 55% 609 755 64% 694 751 61% 821 806

781

665

608

664

903

743

803

705

628

896 2017

2018

70% 60% 50% 40% 30% 20% 10% 0%

January

February

March

April

May

June

July

August

September

October

November

December

2014

13%

14%

17%

17%

20%

21%

21%

21%

19%

22%

20%

27%

2015

18%

16%

23%

24%

27%

31%

30%

29%

29%

29%

23%

40%

2016

23%

20%

23%

30%

34%

38%

36%

40%

41%

39%

44%

57%

2017

32%

31%

43%

36%

45%

50%

41%

45%

39%

47%

52%

63%

2018

49%

44%

59%

52%

55%

64%

61%

2014

2015

2016

2017

2018

November December

183,029 187,324

201,817 195,690

206,837 209,646

2014 152,000 157,750 163,950 169,296 February 164,000 175,476 172,000 187,343 169,800 200,245 177,160 205,077 175,050 231,497 169,900 165,500 164,900

2015 160,000 173,000 169,900 170,000 March 175,000 182,040 183,500 182,738 190,000 204,562 185,000 220,984 183,000 237,544 180,000 176,500 176,000

2016 175,000 185,000 187,500 April191,500 May 200,000182,335 182,945 196,975192,400 190,578 208,000218,542 205,801 199,900227,530 224,351 201,000265,057 254,594 198,000 192,750 2014 191,215

Spokane Average Sales Price

231,512 233,302

300,000 250,000 200,000 150,000

January 100,000 February 50,000 March April 0 May 2014 June2015 July 2016 August 2017 September 2018 October November December

January 164,680 176,475 191,266 206,351 224,091

Spokane Median Sales Price

2017 195,000 185,000 204,900 201,900 June 208,250 190,142 217,000 204,483 217,000 217,604 218,000 233,756 215,000 268,828 209,900 2015 2016 209,950 215,000

2018 208,500 210,200 219,000 231,097 July 240,000 186,795 246,250 211,837 235,000 222,321 235,241

August

September

October

November

December

198,140

192,109

191,360

183,029

187,324

203,532

200,220

201,766

201,817

195,690

215,382

215,557

216,344

206,837

209,646

234,671

236,325

227,733

231,512

233,302

259,300 2017

2018

300,000 250,000 200,000 150,000 100,000 50,000 0

January

February

March

April

May

June

July

August

September

October

November

December

2014

152,000

157,750

163,950

169,296

164,000

172,000

169,800

177,160

175,050

169,900

165,500

164,900

2015

160,000

173,000

169,900

170,000

175,000

183,500

190,000

185,000

183,000

180,000

176,500

176,000

2016

175,000

185,000

187,500

191,500

200,000

196,975

208,000

199,900

201,000

198,000

192,750

191,215

2017

195,000

185,000

204,900

201,900

208,250

217,000

217,000

218,000

215,000

209,900

209,950

215,000

2018

208,500

210,200

219,000

231,097

240,000

246,250

235,000

2014

2015

2016

2017

2018

Annual Appreciation/Depreciation 20% 15% 10% 5% 0% -5% -10%

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

Percent 2.33% 1.36% 7.53% 7.59% 16.28% 16.67% 5.97% -0.76% -8.20% -3.30% -5.10% 3.30% 2.90% Percent

2014 2%

2015

2016

2017

7.10% 8.40% 7.70%

Annual Residential Listings and Closed Sales 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0

2009

2010

2011

2012

2013

2014

Listings

9,848

2001

10,242 10,588 10,856 11,879 13,675 15,559 12,833

2002

2003

9,782

9,919

8,701

8,507

9,642

9,954

10,303 10,594 11,150

Sold

5,898

6,243

4,664

4,249

4,020

4,533

5,510

5,820

6,863

7,571

8,137

2010

2011

2012

2013

2014

2015

2016

2017

7,218

2004 7,758

2005 8,373

2006 7,792

2007 6,935

2008 4,911 Listings

2015

2016

2017

Sold

Annual Average and Median Sales Price 250,000 200,000 150,000 100,000 50,000 0

2001

2002

2003

2004

2005

2006

2007

2008

2009

Average 121,920 127,973 132,273 147,006 172,413 197,384 211,872 206,291 187,585 183,483 167,665 177,272 182,682 186,275 197,593 212,144 228,732 Median 110,000 111,500 119,900 129,000 150,000 175,000 185,400 184,000 169,000 163,400 154,900 160,000 164,697 168,000 179,900 195,000 210,000 Average

Median

Annual Average Interest Rates for 30-Year Fixed Mortgage 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00%

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

Percent 7.30% 7.17% 6.05% 5.88% 5.80% 6.28% 6.46% 5.50% 5.50% 4.69% 4.42% 3.63% 3.98% 3.87% 4.17% 4.16% 3.99% Percent

Š2016 Coldwell Banker Tomlinson. All rights reserved. Each office is independently owned and operated. If you currently have an Agent assisting you with the purchase or sale of property, this is not a solicitation for business. Information provided bu the Spokane Association of RealtorsŽ and Federal Reserve. Information deemed reliable but not guaranteed.