$2,849 Closing Credit*
$239,900
736 SqFt
2 Beds
•1 Bath
Wendy Hughes, Listing Office: Amplify Real Estate Services
Is Spokane, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$399,990
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$17,895(+4.7%)
Key Takeaway
Homes in Spokane have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in Spokane was $399,990 in November 2024, up 4.7% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $212K | $203K | -4.2% |
| 2 Bedrooms | $275K | $268.6K | -2.3% |
| 3 Bedrooms | $359.6K | $374.8K | +4.2% |
| 4 Bedrooms | $430.1K | $439.9K | +2.3% |
| 5+ Bedrooms | $556.2K | $583.5K | +4.9% |
Summary: Spokane housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.2%, 2 bedroom homes decreased by 2.3%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 4.9%.
Median Sold Price Compared To Nearby Cities
| Spokane | $382K | $399.9K | +4.7% |
| Spokane Valley | $414.9K | $422.8K | +1.9% |
| Nine Mile Falls | $602.5K | $610K | +1.2% |
| Spokane South | $655K | $652.4K | -0.4% |
Housing Supply in Spokane, WA
How many homes are available in Spokane, WA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1,368 | 1,304 | -4.7% |
Summary: The Spokane real estate market had 1,304 homes for sale in November 2024, a 4.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 35 | 27 | -22.9% |
| 2 Bedrooms | 173 | 164 | -5.2% |
| 3 Bedrooms | 437 | 438 | 0.2% |
| 4 Bedrooms | 475 | 433 | -8.8% |
| 5+ Bedrooms | 248 | 242 | -2.4% |
Summary: The Spokane housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 22.9%, 2 bedroom homes decreased by 5.2%, 3 bedroom homes increased by 0.2%, 4 bedroom homes decreased by 8.8%, and 5+ bedroom homes decreased by 2.4%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 330 | 234 | -29.1% |
Asking Price vs. Sold Price
112 Homes Were Sold
Under Asking
70 Homes Were Sold
At Asking
51 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spokane, you may be able to get a good deal. 48.1% of homes here sold below asking price last month.
Summary: A total of 234 homes were sold or pending in Spokane in November 2024, down by 29.1% month-over-month. Of the 233 sold homes, 48% were sold under asking, 30% were sold at asking, and 22% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 32 Days | 32 Days | +1.4% |
Summary: Homes in Spokane had an average of 32 days on market in Nov 2024, up by 1.4% compared to last year.
Breakdown of Home Sale Times
143 Homes Were Sold
Under 30 Days
73 Homes Were Sold
In 30 - 90 Days
17 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 November 2024, 234 homes were sold in Spokane; 61% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 7% 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.