Spokane, WA Real Estate Statistics March 2018 !
We have the latest stats out, through Feb. 2018 year over year.
You can see the home values have increased an average of 10% in the past year. Of course, in order to know what that actually means, there are a variety of factors to consider. If you have a question about your specific property value , send me an e mail or give me a call :-)
SALES ( number of closings ) are UP dramatically. This means there are most certainly a large amount of competing buyers for every single property listed.
With only a 2 month supply of homes, we are WAY down in " inventory " or number of homes for sale. A " healthy " market is a 6 month supply, so buyers are in the wings waiting. In order to compete for a property in the 0-299K range, the buyers must outshine their competition when making an offer.
In 2017, SELLERS got over 99% of their asking price on average, so if you are hoping for a bargain, or perceived bargain, this is not the market for that.
My hope is that more people will be selling their homes in 2018! There are creative ways to ensure you can find a house to move into if that is a worry.
While interest rates have raised a bit, my own personal first homes was financed at 11% so no whining out there - haha! , historically, the rates are still amazing!
AND SPOKANE WA was named the number ONE place in the USA by realtor.com for the affordability ... wow... so yes this is a phenomenal place to BUY!!! READ THIS ARTICLE BELOW!
https://www.realtor.com/research/market-affordability-and-availability-shift-demand-outward/ Let me know if you have any questions about the attached flyer.
BethAnn in Spokane