Is Spokane, WA a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Spokane is a seller's market


Difference Since May 2023

Since last year, Spokane has remained a Seller's Market.

Key Takeaway

Spokane is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Spokane, WA

How much do homes in Spokane, WA cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since May 2023


Key Takeaway

Homes in Spokane have sold for 7.6% more than they did a year ago.

Summary: The median home sold price in Spokane was $394,925 in May 2024, up 7.6% from last year, and the median price per square foot was $202.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $224.5K$209.7K
2 $275K$271.1K
3 $350K$365.9K
4 $418.7K$432.5K
5+ $556.2K$569.8K

Summary: Spokane housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.6%, 2 bedroom homes decreased by 1.4%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 2.4%.

Median Sold Price Compared To Nearby Cities

Spokane Valley
Spokane South
Nine Mile Falls

Housing Supply in Spokane, WA

How many homes are available in Spokane, WA?

Number of Homes For Sale

Apr 2024May 2024CHANGE

Summary: The Spokane real estate market had 1,409 homes for sale in May 2024, a 26.3% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 1732
2 134179
3 395457
4 369465
5+ 201276

Summary: The Spokane housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 88.2%, 2 bedroom homes increased by 33.6%, 3 bedroom homes increased by 15.7%, 4 bedroom homes increased by 26%, and 5+ bedroom homes increased by 37.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE

Asking Price vs. Sold Price

96 Homes Were Sold
Under Asking

111 Homes Were Sold
At Asking

149 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Spokane, you could pay more than the asking price. 41.9% of homes here sold above asking price last month.

Summary: A total of 359 homes were sold or pending in Spokane in May 2024, up by 21.7% month-over-month. Of the 356 sold homes, 27% were sold under asking, 31% were sold at asking, and 42% 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

May 2023May 2024CHANGE
18 Days19 Days+3.7%

Summary: Homes in Spokane had an average of 19 days on market in May 2024, up by 3.7% compared to last year.

Breakdown of Home Sale Times

291 Homes Were Sold
Under 30 Days

49 Homes Were Sold
In 30 - 90 Days

16 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Spokane are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 359 homes were sold in Spokane; 81% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 23 Days Ago

Newest Listings in Spokane, WA

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