Is Spokane, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Spokane has remained a Seller's Market.
Housing Prices in Spokane, WA
How much do homes in Spokane, WA cost?
Median Sold Price
$395,243
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Spokane was $395,243 in June 2024, up 7% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $226.5K | $200K | -11.7% |
2 Bedrooms | $275K | $269.7K | -1.9% |
3 Bedrooms | $350K | $368.8K | +5.4% |
4 Bedrooms | $419.5K | $434.3K | +3.5% |
5+ Bedrooms | $559.1K | $561.5K | 0.4% |
Summary: Spokane housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.7%, 2 bedroom homes decreased by 1.9%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 0.4%.
Median Sold Price Compared To Nearby Cities
Spokane | $369.5K | $395.2K | +7.0% |
Spokane Valley | $409.9K | $419.2K | +2.3% |
Nine Mile Falls | $592.4K | $602.5K | +1.7% |
Spokane South | $665K | $667.5K | 0.4% |
Housing Supply in Spokane, WA
How many homes are available in Spokane, WA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
1,356 | 1,480 | +9.1% |
Summary: The Spokane real estate market had 1,480 homes for sale in June 2024, a 9.1% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 29 | 29 | 0.0% |
2 Bedrooms | 172 | 211 | +22.7% |
3 Bedrooms | 448 | 458 | +2.2% |
4 Bedrooms | 447 | 467 | +4.5% |
5+ Bedrooms | 260 | 315 | +21.2% |
Summary: The Spokane housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 22.7%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 21.2%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
395 | 311 | -21.3% |
Asking Price vs. Sold Price
95 Homes Were Sold
Under Asking
100 Homes Were Sold
At Asking
115 Homes Were Sold
Over Asking
Summary: A total of 311 homes were sold or pending in Spokane in June 2024, down by 21.3% month-over-month. Of the 310 sold homes, 31% were sold under asking, 32% were sold at asking, and 37% were sold over asking.
Days on Market for Spokane, WA
How long does it take to sell a home in Spokane, WA?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
14 Days | 18 Days | +28.0% |
Summary: Homes in Spokane had an average of 18 days on market in Jun 2024, up by 28% compared to last year.
Breakdown of Home Sale Times
258 Homes Were Sold
Under 30 Days
41 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Summary: During June 2024, 311 homes were sold in Spokane; 83% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.