The numbers just keep getting better! The Spokane market continues to show signs of market recovery. Check out the following market update courtesy of the Spokane Association of Realtors:
November figures reveal that sales of single family homes on less than one acre and condo declined this month compared to October. Sales in November total 381 compared to 429 for October, a drop of 11.2%. Average sales price for November was $183,182, up 3.2% from October when the average sales price was $177,556. Median price for November was $163,799, up nearly 2% from October median sales price of $160,794. Year to date through November show sales are up 12.6% this year compared to last year, 4,131 sales compared to 3,670. The average price year to date is $176,133 up 4.3% from last year through November when the average price was $168,816. Median price is up 3.2%, $160,000 compared to last year’s median through November of $155,000. Inventory continues to trend downward. At the time of this report inventory stood at 2,232 homes compared to 2,491 last month, down 10.4%. Compared to last year the inventory is down 13.8%. New home sales are up 1.3% over the last year.
Year-to-date sales are up, inventory is down and the average price is starting to rise. All the signs of perfect recovery!
Don’t forget to check out my website at SabrinaSellsSpokane.com and please let me know if I can ever help you with your real estate needs.
Have a great week everyone!