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 REALTORS® Spokane Association Association ofof REALTORS® YEAR HOMEHOME SALESSALES REPORT 2018END MONTHLY REPORT
2017 MAY
SALES DOWN 2.4%
UNIT SALES UP Closed sales of single family homes7% on less than one acre
including condos for May 2018homes total 758on compared to one acre Closed sales of single family less than May 2017 when the was 777.8,137 compared to 7,601 for including condos fortotal 2017 total 2016.
AVERAGE PRICE UP 16.5%
The average closed price for May 2018 was $265,057 compared to AVERAGE PRICE UP 7.8% May 2017 when the average price was $227,481.*
The average closed price for 2017 is $228,732 compared to $212,189 for 2016. *
MEDIAN PRICE UP 15.4%
The median closed price for May 2018 was $240,000 compared to May 2017 when the median price was $208,000.*
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 17.6% compared to May 2017. Current inventory, as of this report totals 1,389 properties which represents a 1.8 months supply.
INVENTORY DOWN NOTE: Months supply based on closed sales for May.
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
Sales of Distressed homes accounted for 3.2% of sales in May NOTE: Months supply based on closed sales for December. 2018 compared to 5% in May 2017.
Information comes fromwhich the SAR’s Activity Report which looks at single residential/ NOTE: Information comes fromNOTE: the SAR’s Monthly Activity Report looks Monthly at single family residential/site built properties on family less than one acre and condominiums. site built properties on less than one acre and condominiums.