Is Spokane Valley, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Spokane Valley has remained a Seller's Market.
Key Takeaway
Spokane Valley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Spokane Valley, WA
How much do homes in Spokane Valley, WA cost?
Median Sold Price
$417,654
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Spokane Valley have sold for 0.6% more than they did a year ago.
Summary: The median home sold price in Spokane Valley was $417,654 in April 2024, up 0.6% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $179.5K | $182.5K | +1.7% |
| 2 Bedrooms | $280K | $305K | +8.9% |
| 3 Bedrooms | $400K | $405.6K | +1.4% |
| 4 Bedrooms | $440K | $440K | 0% |
| 5+ Bedrooms | $497.4K | $494K | -0.7% |
Summary: Spokane Valley housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.7%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 1.4%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 0.7%.
Median Sold Price Compared To Nearby Cities
| Millwood | $357K | $373.5K | +4.6% |
| Liberty Lake | $530.5K | $547.5K | +3.2% |
| Spokane Valley | $414.9K | $417.6K | +0.6% |
| Veradale | $520K | $511.2K | -1.7% |
| Greenacres | $560.3K | $495.1K | -11.6% |
Housing Supply in Spokane Valley, WA
How many homes are available in Spokane Valley, WA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 283 | 352 | +24.4% |
Summary: The Spokane Valley real estate market had 352 homes for sale in April 2024, a 24.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 8 | +14.3% |
| 2 Bedrooms | 22 | 31 | +40.9% |
| 3 Bedrooms | 111 | 130 | +17.1% |
| 4 Bedrooms | 96 | 122 | +27.1% |
| 5+ Bedrooms | 47 | 61 | +29.8% |
Summary: The Spokane Valley housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 40.9%, 3 bedroom homes increased by 17.1%, 4 bedroom homes increased by 27.1%, and 5+ bedroom homes increased by 29.8%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 78 | 88 | +12.8% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
37 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spokane Valley, you could pay more than the asking price. 42% of homes here sold above asking price last month.
Summary: A total of 88 homes were sold or pending in Spokane Valley in April 2024, up by 12.8% month-over-month. Of the 88 sold homes, 30% were sold under asking, 28% were sold at asking, and 42% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 21 Days | 29 Days | +35.3% |
Summary: Homes in Spokane Valley had an average of 29 days on market in Apr 2024, up by 35.3% compared to last year.
Breakdown of Home Sale Times
61 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Spokane Valley are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 88 homes were sold in Spokane Valley; 69% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
Listings courtesy of Spokane Association of REALTORS® MLS as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.