For October 304 residential closed sales of condos and site built homes on less than one acre were reported. In October 2009 residential sales totaled 509. Last month sales totaled 317. The average sales price for October was $189,541 while the median sales price was $166,250. (NOTE: Last year at this time the First Time Homebuyer Tax Credit was set to expire on November 30, 2009.)
Year to date sales total 3,634 properties compared to 3,847 last year. Sales are down 5.5% through October.The average sales price through October is $184,094 down 2.9% from last year. The year to date median sales price is $165,000 also down 2.9% from last year.The current inventory is down 7.7% from last month but is up 1.1% for the same period last year. The current inventory stands at 3,179 homes and condos as of this report. New construction sales are down 2.2% through the end of October compared to last year.
It is said s many as 30% of agents in Spokane have not closed transaction yet this year. Another 30% have closed only one. I am having a very steady year, all things considered! :)
I do think anyone in the position t buy and invest shoul consider the JAW DROPPING interest rates!
BethAnn in Spokane
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