$9,441 Closing Credit*
$795,000
3,400 SqFt
4 Beds
•2 Baths
Rob Stone, Listing Office: EXIT Real Estate Professionals
Is Spokane South, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Spokane South was a Seller's Market.
Key Takeaway
Spokane South is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Spokane South, WA
How much do homes in Spokane South, WA cost?
Median Sold Price
$645,750
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$6,750(-1.0%)
Key Takeaway
Homes in Spokane South have sold for 1% less than they did a year ago.
Summary: The median home sold price in Spokane South was $645,750 in October 2024, down 1% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $239.9K | N/A |
| 2 Bedrooms | $299K | $417.5K | +39.6% |
| 3 Bedrooms | $535K | $561.5K | +5.0% |
| 4 Bedrooms | $670K | $625K | -6.7% |
| 5+ Bedrooms | $800K | $887.5K | +10.9% |
Summary: Spokane South housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 39.6%, 3 bedroom homes increased by 5%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes increased by 10.9%.
Median Sold Price Compared To Nearby Cities
| Valleyford | $660K | $789K | +19.5% |
| Spokane | $379.9K | $399.9K | +5.3% |
| Cheney-Medical Lake | $400K | $404.9K | +1.2% |
| Spokane South | $652.5K | $645.7K | -1.0% |
Housing Supply in Spokane South, WA
How many homes are available in Spokane South, WA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 73 | 78 | +6.8% |
Summary: The Spokane South real estate market had 78 homes for sale in October 2024, a 6.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 11 | 11 | 0.0% |
| 4 Bedrooms | 35 | 36 | +2.9% |
| 5+ Bedrooms | 25 | 28 | +12.0% |
Summary: The Spokane South housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 12%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 10 | -23.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spokane South, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Spokane South in October 2024, down by 23.1% month-over-month. Of the 10 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Spokane South, WA
How long does it take to sell a home in Spokane South, WA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 31 Days | 42 Days | +34.9% |
Summary: Homes in Spokane South had an average of 42 days on market in Oct 2024, up by 34.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Spokane South are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 10 homes were sold in Spokane South; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% 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.