Is Spokane South, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Spokane South was a Seller's Market.
Housing Prices in Spokane South, WA
How much do homes in Spokane South, WA cost?
Median Sold Price
$699,944
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Spokane South was $699,944 in April 2024, up 5.7% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $359.5K | $354.9K | -1.3% |
3 Bedrooms | $564.5K | $585K | +3.6% |
4 Bedrooms | $665K | $674.5K | +1.4% |
5+ Bedrooms | $800K | $817.5K | +2.2% |
Summary: Spokane South housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.3%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes increased by 2.2%.
Median Sold Price Compared To Nearby Cities
Spokane | $368.4K | $394.7K | +7.1% |
Spokane South | $662.5K | $699.9K | +5.7% |
Cheney-Medical Lake | $400K | $395.5K | -1.1% |
Housing Supply in Spokane South, WA
How many homes are available in Spokane South, WA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
48 | 66 | +37.5% |
Summary: The Spokane South real estate market had 66 homes for sale in April 2024, a 37.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 3 | +50.0% |
3 Bedrooms | 15 | 20 | +33.3% |
4 Bedrooms | 15 | 21 | +40.0% |
5+ Bedrooms | 16 | 22 | +37.5% |
Summary: The Spokane South housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 37.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
5 | 9 | +80.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Spokane South in April 2024, up by 80.0% month-over-month. Of the 9 sold homes, 67% were sold under asking, 22% were sold at asking, and 11% were sold over asking.
Days on Market for Spokane South, WA
How long does it take to sell a home in Spokane South, WA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
23 Days | 39 Days | +68.9% |
Summary: Homes in Spokane South had an average of 39 days on market in Apr 2024, up by 68.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 9 homes were sold in Spokane South; 56% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.