North Spokane Real Estate Market Update

By
Real Estate Sales Representative with Team Quintana Real Estate

Brought to you by Team Quintana, Your North Spokane Real Estate Experts!

Lets look at what is happening in the North Spokane Real Estate Market.

 

We look at 5 key numbers to see the trends:

Active Listings: 253 in the Northtown Area

Compared to last month: 308 that is down 18%

 

Pending Listings: 55 or 21% of actives are pending - 2 in 10 are sold at any given time

Last Month: 96 or 31%of actives were panding -3 in 10 were sold at any given time

So pendings are down 43% from last month

 

Average Price: $121,121

 

List price to sale price ratio: 98.7%

Team Quintana's List to sale ratio: 100.1%

 

Average Days on Market: 118

Last Month: 111

Team Quintana's Average Days on Market: 69

 

Summary - Inventory is down as people take their homes off the market for winter. The amount of people buying in the month of December goes down as people get distracted with holidays. Pending should go up in percentage when inventory goes down but it went down meaning that less buyers are buying than last month and buyers may not be finding what they are looking for as inventory shrinks. Average price has come down as inventory increases. List to sale should go up as prices come down within reason. Average Days on Market is slower than average and will increase as we get into winter.

Recommendation - Many people are taking their homes off the market now and that lowers the competition increasing your chance to sell. Though buyers reduce int he winter they bounce right back after Jan 1st. I suggest you jump your competition by listing now and forgetting about it in December but having it ready for January. We see a spike every year in January and February. Many homeowners miss this and wait until spring. We market heavy on the internet during these months for sales. Our numbers for selling are 1.4% higher than the average agent in the North Spokane area, to put that in dollars if the average price is $121,121 that is an average gain of $1,695 for people who hire us. We also sell homes 42% faster than the average North Spokane Real Estate Agent. Call us to get free consultation on the best strategies for you. 509-362-1966 ask for Ross our Selling Specialist

 

Your North Spokane Real Estate Experts!

Comments (1)

Ross Quintana
Real E Smarter - Spokane, WA
Real E Smarter Real Estate Coach - 509-362-1966

The market is good though it is cooling for winter, sometimes this happens because people take homes off the market and buyers get distracted with the holidays, but overall the market is doing well here.

Dec 21, 2009 05:39 AM