Spokane Real Estate Market October 2017 Provided by Windermere Valley & Liberty
Market Summary October 2017 In October, closed sales of 803 reflects an increase from September of 8.1%. Year-to-date we have seen 6,773 closed sales, representing a 5.3% increase from 2016. The number of current active listings stands at 1,709, which is a decrease of 10.9% from the September 2017 listing count of 1,918. We are on par with October 2016, and over the last several months, we have begun to see a rise in listing inventory. It is not expected that listings will increase dramatically over the next quarter, however the slight increase is a good sign. The October 2017 closed sales price of $227,733 reflects a decrease of 3.6% from September, and 5.3% increase from the October 2016 average of $216,326. Our increase in sales price directly correlates to the low inventory we ve experienced over the last year or two. However, with the slight increase in inventory, prices are slightly stabilizing. New Construction saw 86 closed sales or an increase of 15.5% from September of 2017, and a decrease of 9.5% from October of 2016. Year to date, there have been 703 closed sales in new construction. The average sale price for new construction was $344,000 for October 2017, versus $325,00 for September. As of October 2017, the average sales price is up 7.2% for the year from $321,000. Currently, Spokane has an incredibly low inventory of 2 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 very healthy, and showing more stability than in months past. We are seeing more listings and fewer closings, which will stabilize prices, allowing for healthy end of year and beginning of 2018.
Spokane County Active/Sold/Pending October 2017 Provided by Windermere Valley & Liberty
Provided by Windermere Valley & Liberty
Provided by Windermere Valley & Liberty
Provided by Windermere Valley & Liberty
October 2017 Months of Inventory Provided by Windermere Valley & Liberty
Provided by Windermere Valley & Liberty
Bank Owned and Short Sales Months of Inventory October 2017 Provided by Windermere Valley & Liberty
General Statistics Month Ending: October 2017 This Last 1 Year Month Month Ago_ Total Active Listings 1,709-10.9% mo. 1,918 1,709 0 % yr. Average List Price $266,000 $266,000 $243,000 Average Market Time 44 46 53 List Price vs sales 98% 98% 98% Price Ratio Number of closed 6,773 + 8.1% mo. 5,967 6,317 sales YTD + 7.2% yr. Average Sales Price $237,733-3.6% mo. $236,325 $216,326 + 5.3% yr. Bank Owned & Short Sale 79 84 158 Active Listings Bank Owned 38 45 93 Short Sales 41 39 60 Provided by Windermere Valley & Liberty
Valley Statistics Month Ending October 2017 This Last 1 Year Month Month Ago_ Total Active Listings 404 452 466 Average List Price $300,000 $298,000 $276,000 Average Market Time 42 46 49 List Price vs sales 98% 99% 98% Price Ratio Number of closed 1,835 1,623 1,800 sales YTD Average Sales Price $274,000 $263,000 $230,000 Bank Owned & Short Sale 19 23 43 Bank Owned 7 9 25 Short Sales 12 14 18 Provided by Windermere Valley & Liberty
North Statistics Month Ending October 2017 This Last 1 Year Month Month Ago Total Active Listings 716 758 674 Average List Price $224,000 $226,000 $199,000 Average Market Time 46 42 56 List Price vs sales 98% 99% 98% Price Ratio Number of closed 2,679 2,282 2,605 sales YTD Average Sales Price $195,000 $203,000 $184,000 Bank Owned & Short Sale 33 34 80 Active Listings Bank Owned 18 19 50 Short Sales 18 15 30 Provided by Windermere Valley & Liberty
South Statistics Month Ending October 2017 This Last 1 Year Month Month Ago_ Total Active Listings 358 380 344 Average List Price $315,000 $313,000 $295,000 Average Market Time 40 49 51 List Price vs sales 97% 98% 98% Price Ratio Number of closed 1,506 1,345 1,473 sales YTD Average Sales Price $253,000 $281,000 $262,000 Bank Owned & Short Sale 15 14 14 Active Listings Bank Owned 7 7 9 Short Sales 8 7 5 Provided by Windermere Valley & Liberty
New Construction Month Ending: October 2017 This Last 1 Year Month Month Ago_ Total Active Listings 165 141 136 -.02% mo. Average List Price $362,000 +15.6% yr. $369,000 $313,000 Average Market Time 43 43 67 List Price vs sales 101% 104% 102% Price Ratio Number of closed 642 + 15.5% mo. 556 703 sales YTD - 9.5% yr. +5.8% mo. Average Sales Price $344,000 +7.2% yr. $325,000 $321,000 Provided by Windermere Valley & Liberty
Provided by Windermere Valley & Liberty