Spokane WA Real Estate Market March 2017
Well I guess " March Madness " is a good way to describe the Market. Not because it is super crazy mad busy, but because there are many buyers ready to buy, and not enough homes for sale! ( see flyer ) . We are down in listings more than ever- 35.1 % less homes on the market than this time last year! That is unprecedented .
There is still snow on the ground today... this can physiologically inhibit people from putting their homes on the Market. Many people wait until they have their yards spruced up, and the grass is green. But the truth is that buyers look past that. They understand we have 4 Seasons and that the yard does not look great 365 days a year. Also, people may not be listing because they have been hearing of the lack of inventory, and wonder - where would we go ? So, I am hoping more people put their homes on the market so we can get rid of the bottle neck we are experiencing!
When I bought my first home, the interest rate was 11.5%. Historically, we still have GREAT RATES at this time ! So it is still a great time to buy. You just have to be really prepared because of the competition.
When reviewing the statistics here, remeber this chart is year over year.
If you have any questions about the Spokane Real Estate Market I would love to hear from you.