We always read about "the market" in the paper, or see, or hear about it on electronic media. Most of the time the reference is to the over all average nationwide, but it's interesting to see that it really does vary from place to place depending on where you are.
To see the Most Expensive Markets: Top 10 Most Expensive Markets
To see the Most Affordable Markets: Top 10 Most Affordable Markets
These are all ranked based on 4 bedroom 2 bathroom homes. So, where do Spokane and Spokane Valley Washington fit in the market in terms of ranking? 2016 Coldwell Banker Home Listing Report
When we start zooming in to various Spokane neighborhoods and run comparisons with the actual data (not from often less accurate 3rd party web sites) direct from the REALTOR association is when it really starts to get interesting. Moreover we can look at days on market data and with supply and demand taken into account, using probability equations, come up with good estimates of how long a particular home will be on the market before it actually sells. Of course "the market" is an animal that sometimes doesn't like to be fenced in, but overall when we take a lot of things like quality comparisons into account and price positioning, we can get pretty darned accurate in terms of estimates.