Reported by the Spokane Association of Realtors:
The trend continues! For the seventh consecutive month closed residential sales have exceeded sales from the same month a year ago. 505 residential sales were reported closed in April, up 53% from April 2009. Sales for
April compared to last month are up 25.3%. The average sales price was $179,874 and the median sales price was $163,000.
Year to date residential sales of single family homes on less than one acre and condos are up 33.3% over last year. The average sales price so far this year is $178,385 down 10.4% compared to last year and the median sales price so far this year is $160,000 down 8.4%.
Inventory climbed slightly and, as of this report, totals 3,414, up 2.4% over last month. New construction sales increased significantly over last month with 63 sales reported, up 75% over last month.
My personal comments:
Last year at this time we had 2997 residential listings. At the date of this recent report, we have 3414. A key thing to keep in mind is the SUPPLY AND DEMAND. Currently, the absorption rate for most price ranges is not in favor of sellers. What does this mean? You have to be not only competitively priced to sell your home, but compelling in every way- including price and condition.
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