Is Spokane Valley, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Spokane Valley has remained a Seller's Market.
Housing Prices in Spokane Valley, WA
How much do homes in Spokane Valley, WA cost?
Median Sold Price
$418,000
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Spokane Valley was $418,000 in March 2024, down 0.4% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $179K | $185K | +3.4% |
2 Bedrooms | $285K | $307.9K | +8.0% |
3 Bedrooms | $405K | $405K | 0.0% |
4 Bedrooms | $441.1K | $440K | -0.3% |
5+ Bedrooms | $495K | $494.5K | -0.1% |
Summary: Spokane Valley housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.4%, 2 bedroom homes increased by 8%, 3 bedroom homes did not change, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes decreased by 0.1%.
Median Sold Price Compared To Nearby Cities
Millwood | $358K | $371K | +3.6% |
Spokane Valley | $419.8K | $418K | -0.4% |
Liberty Lake | $545.1K | $535.5K | -1.8% |
Veradale | $514.7K | $500K | -2.9% |
Greenacres | $559.6K | $500K | -10.7% |
Housing Supply in Spokane Valley, WA
How many homes are available in Spokane Valley, WA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
250 | 283 | +13.2% |
Summary: The Spokane Valley real estate market had 283 homes for sale in March 2024, a 13.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 7 | +133.3% |
2 Bedrooms | 20 | 24 | +20.0% |
3 Bedrooms | 83 | 105 | +26.5% |
4 Bedrooms | 99 | 100 | +1.0% |
5+ Bedrooms | 45 | 47 | +4.4% |
Summary: The Spokane Valley housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 133.3%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 26.5%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 4.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
58 | 69 | +19.0% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Summary: A total of 69 homes were sold or pending in Spokane Valley in March 2024, up by 19.0% month-over-month. Of the 68 sold homes, 31% were sold under asking, 28% were sold at asking, and 41% were sold over asking.
Days on Market for Spokane Valley, WA
How long does it take to sell a home in Spokane Valley, WA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
25 Days | 35 Days | +36.5% |
Summary: Homes in Spokane Valley had an average of 35 days on market in Mar 2024, up by 36.5% compared to last year.
Breakdown of Home Sale Times
44 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During March 2024, 69 homes were sold in Spokane Valley; 64% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.