Spokane Real Estate Market May 2017 Provided by Windermere Valley & Liberty Lake
Market Summary May 2017 In May, closed sales of 793 reflects an increase from the April closed sale number of 525 or 46.7%. Yearto-date closed sales as of May 2017 are 2,587 versus May of 2016, which was 2,485, or a difference of 3.4%. The slight decrease in closed sales in April due to the lack of inventory was reversed in May, as the market saw more homes listings. Current active listings currently stand at 1,686, which is a difference of 15.7% from the 1,457 listings of last months. While we are still experiencing a 17.5% decrease from April 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 May 2017 closed sales price of $227,530 represents a 1.4% increase from the April price of $224,351. Compared to May 2016, the average sales price has increased 4% from $218,746. Our increase in sales price is directly correlates our low inventory. This should continue to steady out as we proceed through 2017. New Construction saw an increase in closed sales of 46% from April of 2017, and a decrease of 19.7% from May of 2016. This is due to the late start to spring, and the builders being unable to keep up with reasonable completion dates with the great growth they have experience. The average sale price for new construction is $337,131 for May 2017, versus $320,537, or +5.2%% as of April, 2017 Currently, Spokane has 2 months of inventory on the market, which is quite low. With low inventory expected to continue through the year, we expect this percentage to remain low through 2017. As we move through the second quarter of 2017, we are seeing the market beginning to take shape to what we believe will be another strong year. We are seeing an influx of buyers from not only the Seattle area, but from throughout the country, due to the growth of the UofW Medical School. All in all, Spokane is experiencing a strong and thriving real estate market. Provided by Windermere Valley & Liberty Lake
Spokane County Active/Sold/Pending May 2017 Provided by Windermere Valley & Liberty Lake
Provided by Windermere Valley & Liberty Lake
Provided by Windermere Valley & Liberty Lake
Provided by Windermere Valley & Liberty Lake
May 2017 Months of Inventory Provided by Windermere Valley & Liberty Lake
Provided by Windermere Valley & Liberty Lake
Bank Owned and Short Sales May 2017 Provided by Windermere Valley & Liberty Lake
General Statistics Month Ending: May 2017 This Last 1 Year Month Month Ago_ Total Active Listings 1,686 15.7% mo. 1,457 2,044-17.5% yr. Average List Price $272,000 $264,000 $247,000 Average Market Time 40 47 58 List Price vs sales 100% 99% 98% Price Ratio Number of closed 2,587 +46.7% mo. 1,794 2.485 sales YTD + 9.4% yr. Average Sales Price $227,530 +1.4% mo. $224,351 $218,746 + 4% yr. Bank Owned & Short Sale 95 102 166 Active Listings Bank Owned 56 65 71 Short Sales 39 37 95 Provided by Windermere Valley & Liberty Lake
Valley Statistics Month Ending May 2017 This Last 1 Year Month Month Ago_ Total Active Listings 425 386 536 Average List Price $299,000 $295,000 $275,000 Average Market Time 43 49 56 List Price vs sales 100% 100% 98% Price Ratio Number of closed 710 494 731 sales YTD Average Sales Price $268,000 $264,000 $237,000 Bank Owned & Short Sale 20 29 47 Bank Owned 10 18 19 Short Sales 10 11 28 Provided by Windermere Valley & Liberty Lake
North Statistics Month Ending May 2017 This Last 1 Year Month Month Ago_ Total Active Listings 626 535 740 Average List Price $224,000 $221,000 $206,000 Average Market Time 36 48 58 List Price vs sales 100% 99% 99% Price Ratio Number of closed 1,130 787 1,018 sales YTD Average Sales Price $195,000 $176,000 $190,000 Bank Owned & Short Sale 46 51 70 Active Listings Bank Owned 27 31 31 Short Sales 19 20 39 Provided by Windermere Valley & Liberty Lake
South Statistics Month Ending May 2017 This Last 1 Year Month Month Ago_ Total Active Listings 393 296 462 Average List Price $332,000 $311,000 $292,000 Average Market Time 43 40 53 List Price vs sales 99% 98% 98% Price Ratio Number of closed 572 393 580 sales YTD Average Sales Price $253,000 $269,000 $249,000 Bank Owned & Short Sale 15 12 24 Active Listings Bank Owned 8 9 8 Short Sales 7 3 16 Provided by Windermere Valley & Liberty Lake
Provided by Windermere Valley & Liberty Lake