February 2009 closed sales increased significantly over January closed sales. Sales increased 68.6% over January 2009 sales. 194 residential properties on less than one acre were reported closed with an average sales price of $197,016 and a median sales price of $171,654.
For the first two months of 2009 sales are down 186 sales. The average sales price through February is $200,459 down 1.1% when compared to last year when the average sales price was $202,649. The median prices so far this year is down 3.9% and through February stands at $171,000 compared to $177,898 over the same period last year.Inventory for the third consecutive month is below the inventory at the same time last year. Our current inventory is 2,626 units compared to 2,778 last year. New home sales picked up this month with 39 closings reported in February, up from 20 sales reported in January.
Information provided by Spokane Association of Realtor's