Spokane Real Estate Market June 2017
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- Job Johnson
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1 Spokane Real Estate Market June 2017 Spokane Real Estate Market June 2017 Provided by Windermere Valley & Liberty Lake
2 Market Summary June 2017 In June, closed sales of 944 reflects an increase from the May closed sale number of 770 or 29.1%. Yearto-date closed sales as of June 2017 are 3,509 versus June of 2016, which were 3,278, or a difference of 7%. The June number of closed sales represents a one month record not previously recorded in the Spokane MLS. The number of current active listings stands at 1,871, which is a difference of 11% from the 1,686 listings of last month. While we are still experiencing a 10.1% decrease from May of 2016, we are noticing a steady increase of listings beginning to hit the market. The late start of increased listings is again a symptom of Spokane s late spring, as well as the region s understanding that we are experiencing large number of move-in buyers. The June 2017 closed sales price of $233,756 represents a 2.7% increase from the May price of $227,530. Compared to June of 2016, the average sales price has increased 7.6% from $217,256. Our increase in sales price is directly correlates our low inventory. This should continue to steady out as we proceed through New Construction saw an increase in closed sales of 21.1% from May of 2017, and a decrease of 15.2% from June of This is due to builders being unable to keep up with completion dates less than eight months, due to the great growth they have experienced. The average sale price for new construction is $339,117 for June 2017, versus $337,131 for last month, or 0%. As of June of 2017, the average sales price is up 12.3% from $301,884. Currently, Spokane has an incredibly low inventory of 1.8 months. This months of inventory is extremely low by all standards, and will hopefully increase to a more stable number as the market settles. Spokane s real estate market continues to remain extremely robust, with multiple offers and increased sales prices. Appraisals are a challenge, as the increasing market has appraisals having to follow, however its expected Q4 will bring some stability and less rapid growth.
3 Spokane County Active/Sold/Pending June 2017 Provided by Windermere Valley & Liberty Lake
4 Provided by Windermere Valley & Liberty Lake
5 Provided by Windermere Valley & Liberty Lake
6 Provided by Windermere Valley & Liberty Lake
7 June 2017 Months of Inventory Provided by Windermere Valley & Liberty Lake
8 Provided by Windermere Valley & Liberty Lake
9 Bank Owned and Short Sales Months of Inventory - June 2017 Provided by Windermere Valley & Liberty Lake
10 General Statistics Month Ending: June 2017 This Last 1 Year Month Month Ago_ Total Active Listings 1,871 11% mo. 1,686 2, % yr. Average List Price $270,000 $272,000 $246,000 Average Market Time List Price vs sales 100% 100% 99% Price Ratio Number of closed 3, % mo. 2,587 3,278 sales YTD + 7% yr. Average Sales Price $233, % mo. $227,530 $217, % yr. Bank Owned & Short Sale Active Listings Bank Owned Short Sales Provided by Windermere Valley & Liberty Lake
11 Valley Statistics Month Ending June 2017 This Last 1 Year Month Month Ago_ Total Active Listings Average List Price $306,000 $299,000 $280,000 Average Market Time List Price vs sales 99% 100% 99% Price Ratio Number of closed sales YTD Average Sales Price $268,000 $268,000 $240,000 Bank Owned & Short Sale Bank Owned Short Sales Provided by Windermere Valley & Liberty Lake
12 North Statistics Month Ending June 2017 This Last 1 Year Month Month Ago_ Total Active Listings Average List Price $221,000 $224,000 $207,000 Average Market Time List Price vs sales 100% 100% 99% Price Ratio Number of closed 1,540 1,130 1,344 sales YTD Average Sales Price $209,000 $195,000 $183,000 Bank Owned & Short Sale Active Listings Bank Owned Short Sales Provided by Windermere Valley & Liberty Lake
13 South Statistics Month Ending June 2017 This Last 1 Year Month Month Ago_ Total Active Listings Average List Price $327,000 $332,000 $287,000 Average Market Time List Price vs sales 100% 99% 98% Price Ratio Number of closed sales YTD Average Sales Price $255,000 $253,000 $263,000 Bank Owned & Short Sale Active Listings Bank Owned Short Sales Provided by Windermere Valley & Liberty Lake
14 Provided by Windermere Valley & Liberty Lake
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