Sarah Roy Realtor

SPOKANE MARKET STATS:

Our local real estate market is continuing to shift guys! Here’s a little insight ✨

- average sale price in the Spokane area is now $513,210. This is actually ~$3,000 lower than last month! This reinforces the fact that buyers are gaining a little more leverage in the market!

- days on market (median number of days between when a home is listed and when it goes under contract) was 10 last month! That is up from 5 in June of 2021. We are definitely seeing less of a frenzy for homes and more time for buyers to make decisions and weigh their options before jumping right into a home purchase

- price/sqft: $228! This is up 1.3% from May of 2022.

- % of list price received: 103.1%. This number is actually down from 104% last month which means buyers are offering less above asking price for the homes they are buying!

Overall, the market in Spokane is continuing to trend to a more buyer friendly environment! Yay good news for those of you who have been waiting out the craziness of the last couple years.
Despite higher interest rates, you can rest assured you likely won’t have to offer insanely higher than list price anymore when purchasing a home 🙌🏼

If you have any questions about the market or buying/selling in general, don’t hesitate to reach out 💌