The Spring market is coming and things are going to be heating up in the Spokane real estate market. The Spokane Association of REALTORS© reports the following statistics for February, 2014:
“February residential closed sales (residential site built on less than one acre and condos) totaled 288 closed sales. This number is up slightly (5 sales) over January. The average sales price for February was $175,476 up 6.6% over January when the average sales price was $164,680. The median sales price for February was $157,750 up 3.8% over January’s median price which was $152,000.
For the first two months of 2014 sales are up 5%, 571 closed sales reported this year compared to 544 over the same period last year. The average sales price year to date is $170,125 virtually the same as last year through two months when the average sales price was $170,891. The median sales price year to date is down 1.7%, $155,000 this year compared to $157,750 last year through February. Inventory remains about the same currently for this year at 2,104 properties as of this report. Last month the inventory was 2,098. Last year at this time the inventory was 2,171. Inventory is down 3% from last year. New construction closed sales are tracking behind last year, down 17.4%, 76 sales compared to 92 last year.”
The Spring market is heating up here in Spokane and with low interested rates and some nice inventory to choose from, it is a great time to buy real estate!
Check out my website at SabrinaSellsSpokane.com to see some great listings and please remember to refer me to your friends and family in need to professional real estate services. You can always reach me at 509.879.8800.