$9,441 Closing Credit*
$795,000
3,400 SqFt
4 Beds
•2 Baths
Rob Stone, Listing Office: EXIT Real Estate Professionals
Is Spokane, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Spokane has remained a Seller's Market.
Key Takeaway
Spokane is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Spokane, WA
How much do homes in Spokane, WA cost?
Median Sold Price
$399,972
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$20,028(+5.3%)
Key Takeaway
Homes in Spokane have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in Spokane was $399,972 in October 2024, up 5.3% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $219K | $199.5K | -8.9% |
| 2 Bedrooms | $273.3K | $269.3K | -1.5% |
| 3 Bedrooms | $355K | $374.6K | +5.5% |
| 4 Bedrooms | $429K | $439.9K | +2.6% |
| 5+ Bedrooms | $558.1K | $587.7K | +5.3% |
Summary: Spokane housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.9%, 2 bedroom homes decreased by 1.5%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 5.3%.
Median Sold Price Compared To Nearby Cities
| Spokane | $379.9K | $399.9K | +5.3% |
| Nine Mile Falls | $590.5K | $610K | +3.3% |
| Spokane Valley | $414.9K | $419.9K | +1.2% |
| Spokane South | $652.5K | $645.7K | -1.0% |
Housing Supply in Spokane, WA
How many homes are available in Spokane, WA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1,360 | 1,502 | +10.4% |
Summary: The Spokane real estate market had 1,502 homes for sale in October 2024, a 10.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 31 | 35 | +12.9% |
| 2 Bedrooms | 172 | 193 | +12.2% |
| 3 Bedrooms | 431 | 476 | +10.4% |
| 4 Bedrooms | 450 | 510 | +13.3% |
| 5+ Bedrooms | 276 | 288 | +4.3% |
Summary: The Spokane housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.9%, 2 bedroom homes increased by 12.2%, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 4.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 310 | 303 | -2.3% |
Asking Price vs. Sold Price
118 Homes Were Sold
Under Asking
91 Homes Were Sold
At Asking
94 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spokane, you may be able to get a good deal. 38.9% of homes here sold below asking price last month.
Summary: A total of 303 homes were sold or pending in Spokane in October 2024, down by 2.3% month-over-month. Of the 303 sold homes, 39% were sold under asking, 30% were sold at asking, and 31% were sold over asking.
Days on Market for Spokane, WA
How long does it take to sell a home in Spokane, WA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 28 Days | 31 Days | +9.7% |
Summary: Homes in Spokane had an average of 31 days on market in Oct 2024, up by 9.7% compared to last year.
Breakdown of Home Sale Times
190 Homes Were Sold
Under 30 Days
88 Homes Were Sold
In 30 - 90 Days
25 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Spokane are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 303 homes were sold in Spokane; 63% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 8% 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.