Hi ! It's BethAnn in Spokane with an update on the state of the local Spokane WA Real Estate market. This report reflects last months data, March of 2021.
There is no word strong enough to describe the crisis low inventory. The number of homes for sale is less than 15% of what we need to meet the demand. 209 Homes on the market in March? We could sell 2000!
There are many contributing factors to the extreme lack of homes on the market. One is that builders have not even begun to build enough new homes. This creates a bottle-neck for everyone from people living in low income rental apartments to every person with the dream of home ownership. More young adults have come to the age where they want to buy, more boomers want to downsize, the list is long. Add a pandemic, and here we are.
My suggestion for someone who would like to sell their house in this high market, is to carefully consult a good Realtor who can help create solutions for you so you can achieve your goals. This INDEED is an AMAZING time to sell, and beyond a challenging time to buy. The low interest rates are a nice perk :)
See below for the latest Spokane WA Real estate statistics, and feel free to reach out if you have any questions about real Estate, or homes for sale in the Spokane area, or selling your Spokane home!
Hang in there, and stay well !
BethAnn Long RE/MAX Inland Empire