Is Spokane County, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Spokane County has remained a Seller's Market.
Housing Prices in Spokane County, WA
How much do homes in Spokane County, WA cost?
Median Sold Price
$422,391
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Spokane County was $422,391 in May 2024, up 0.9% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $224.5K | $214K | -4.7% |
2 Bedrooms | $285K | $280K | -1.8% |
3 Bedrooms | $387.1K | $394.1K | +1.8% |
4 Bedrooms | $459.3K | $454.9K | -1.0% |
5+ Bedrooms | $599.7K | $580.4K | -3.2% |
Summary: Spokane County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.7%, 2 bedroom homes decreased by 1.8%, 3 bedroom homes increased by 1.8%, 4 bedroom homes decreased by 1%, and 5+ bedroom homes decreased by 3.2%.
Median Sold Price Compared To Nearby Counties
Kootenai County | $583K | $674.5K | +15.7% |
Lincoln County | $252.4K | $274.5K | +8.7% |
Spokane County | $418.4K | $422.3K | +0.9% |
Stevens County | $361.6K | $354.5K | -2.0% |
Housing Supply in Spokane County, WA
How many homes are available in Spokane County, WA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1,963 | 2,435 | +24.0% |
Summary: The Spokane County real estate market had 2,435 homes for sale in May 2024, a 24.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 39 | 58 | +48.7% |
2 Bedrooms | 206 | 252 | +22.3% |
3 Bedrooms | 687 | 791 | +15.1% |
4 Bedrooms | 657 | 816 | +24.2% |
5+ Bedrooms | 374 | 518 | +38.5% |
Summary: The Spokane County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 48.7%, 2 bedroom homes increased by 22.3%, 3 bedroom homes increased by 15.1%, 4 bedroom homes increased by 24.2%, and 5+ bedroom homes increased by 38.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
509 | 560 | +10.0% |
Asking Price vs. Sold Price
161 Homes Were Sold
Under Asking
181 Homes Were Sold
At Asking
214 Homes Were Sold
Over Asking
Summary: A total of 560 homes were sold or pending in Spokane County in May 2024, up by 10.0% month-over-month. Of the 556 sold homes, 29% were sold under asking, 33% were sold at asking, and 38% were sold over asking.
Days on Market for Spokane County, WA
How long does it take to sell a home in Spokane County, WA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
19 Days | 20 Days | +5.9% |
Summary: Homes in Spokane County had an average of 20 days on market in May 2024, up by 5.9% compared to last year.
Breakdown of Home Sale Times
444 Homes Were Sold
Under 30 Days
86 Homes Were Sold
In 30 - 90 Days
26 Homes Were Sold
Over 90 Days
Summary: During May 2024, 560 homes were sold in Spokane County; 79% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.