Spokane Real Estate market
What is Spokane's Real Estate market currently like? Well, which aspect of the market are you interested in? Are you buying, selling, investing or are you just curious? For the month of September the insert shows a snapshot of the market.
For the first time in almost a year sales are down. That is kind if expected for we are getting into fall and winter, kids are back in school and with the holidays in the express lane to get here. The trend in the past has been that this can be a slow time in the market.
The average purchase price is up over September last year, which can have mixed feelings depending if your the seller or the buyer. If you look at the last 3-4 months you can see that the market is on a consistent climb compared to last year. Over the last five months we have seen at least a 4% rise in average price. With May being the low month at 4%, the high month being September at 9.6%.
The big thing to point out is that the inventory is finally on the climb. Each month since May inventory has been down. This month for once inventory is up 1.1% over September 2016. That may not seem like much but that is correlates to being 1918 houses on the market.
This is a good time for either the buyer AND the seller. The reason being is there is for the buyer there are lots of options out there. For the seller there are buyers out there that need or want to buy a home and the prices are good. Just from what I have seen the best price range to be in is about the $250,000-$275,000 or less. This range seems to be moving the fastest. The catch is that on average all homes for sell sit on the market for 25-30 days. So if your the seller plan accordingly and be patient the right buyer will come along. For the buyer, if you see a home you want don't wait too long for there is another buyer who is also looking at the same home. You take too deep of a breath and the home could be gone.
You want more information on buying or selling your home? Call me at 509-217-9904.
Thanks!
The average purchase price is up over September last year, which can have mixed feelings depending if your the seller or the buyer. If you look at the last 3-4 months you can see that the market is on a consistent climb compared to last year. Over the last five months we have seen at least a 4% rise in average price. With May being the low month at 4%, the high month being September at 9.6%.
The big thing to point out is that the inventory is finally on the climb. Each month since May inventory has been down. This month for once inventory is up 1.1% over September 2016. That may not seem like much but that is correlates to being 1918 houses on the market.
This is a good time for either the buyer AND the seller. The reason being is there is for the buyer there are lots of options out there. For the seller there are buyers out there that need or want to buy a home and the prices are good. Just from what I have seen the best price range to be in is about the $250,000-$275,000 or less. This range seems to be moving the fastest. The catch is that on average all homes for sell sit on the market for 25-30 days. So if your the seller plan accordingly and be patient the right buyer will come along. For the buyer, if you see a home you want don't wait too long for there is another buyer who is also looking at the same home. You take too deep of a breath and the home could be gone.
You want more information on buying or selling your home? Call me at 509-217-9904.
Thanks!
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