Spokane Real Estate Voice

Each month I post the Spokane Association of Realtor monthly report for Spokane Wa. These statistics reflect sales for residential properties on one acre or less.

As for myself, this has been a steady year. Not too crazy busy, and not too slow. I am particularly curious how sales will continue and compare now that the tax credit's are behind us.  However, there are still some tax credits that apply for active military personnel. Ask your accountant or Realtor for details!

Spokane Wa real estate is alive and well and has proven to be one of the more stable markets in the nation.

SAR REPORT AS FOLLOWS for June 2010:

For the ninth consecutive month closed sales for this month surpassed closed sales for the same month a year ago. Closed sales reported in June totaled 506 compared to 501 for June of last year. The average sales price for June was $190,308 which is up 5.4% from last month and the median price for June was $171,295 up 6.6% over May. Residential closed sales for the first half of this year are up 24.5% over last year. (wow!) The average sales price for the half year mark stands at $181,482 and the median price is at $163,000. These numbers are down 6.4% and 6.1% respectively when compared to last year. The current inventory increased the past month and as of this report totals 3,406 homes/condos on the market in Spokane County (on less than one acre). Sales of newly constructed homes/condos are up 5.5% year to date.

Visit my website! www.BethAnnHomes.com

For the sixth consecutive month, closed residential sales exceeded sales from the same month a year ago.
403 closed residential sales were reported in March, up 92% from February when 210 closed sales were
reported. Sales this March compared to March last year are up 23.2%. The average sales price was $182,234 in
March and the median sales price was $160,000.
For the first quarter of 2010, residential sales of single family home and condos on less than one acre are up
23.2% over the first quarter 2009. The average sales price for the first quarter of this year was $177,480 and the
median sales price was $159,761. These figures are down 11.3% and 8.7% respectively.
The inventory as of this report is 3,335. New construction closed sales were 37 for March compared to 19 in
February. First quarter total new construction sales stand at 77 compared to 113 first quarter last year.

(source: Spokane Association of Realtors)

All in all things are very steady foe me. I have really enjoyed working with first time buyers during this tax incentive season. We are fortunate to have a much more stable market here in Spokane than some other places.

HAPPY SPRING!

Here are the statistics for Home Sales in Spokane Wa. (from the Spokane Association of Realtors)

The trend continues. For the fifth consecutive month,Feb. 2010 closed residential sales exceeded sales from the same month a year ago. 210 closed residential sales were reported in February this year compared to 193 sales in
February last year, up 8.8%. Compared to last month sales are up 18.6%. The average sales price was $169,936
in February and the median price was $157,000.
The average sales price through February is $172,529 and the median sales price is $158,750.The year to date
average sales price and median sales price are down 13.9% and 7.5% respectively from last year.
The inventory of single family homes on the market as of this report is 2,953. New construction closed sales
reported to the SARMLS totaled 19 sales in February compared to 21 last month. So far this year (through
February) total new construction sales stand at 40 compared to 61 last year.

 

For a monthly report, or to see recent home sales in Spokane Wa. visit my website at www.BethAnnHomes.com

346 closed residential sales were reported in December2009 . This number is down from the 471 sales reported last month 0 but up significantly from December last year when 285 closed sales were reported.

The average sales price in December was $180,216 and the median sales price was $168,007.

Year end closed sales totaled 4,664 down 5% from 2008 when 4,910 closed sales were reported. Of note is that
halfway through 2009 closed were down nearly 23%.

The second half of 2009 sales picked up significantly.
Year end average sales price was $187,585 down 9.1% from 2008. The median price for 2009 was $169,00
down 8.2% compared to 2008.*
Inventory is down 10.8% from last month. Sales of newly constructed homes reported to the SARMLS totaled
561 compared to 804 reported in 2008, down 30.2% (from Spokane association of Realtor's)

My comments: So, SALES are down just 5% overall in Spokane from 2008, but that is not the same thing as home values, which look to be down an average of 7.2 %-9.1 %. This is variable because of area, when sold, condition and such. You can't generalize across the board, but I am sure some will.

The 8.2 % drop median home price is probably a pretty good overall picture of the Spokane Market, so we are much better shape than alot of other places!

It is obvious that the tax credit made an impact, and hopefully will continue to do so. I personally had very good sales in 2009 and I am geared up for 2010!

I will be posting more end of the year data as it becomes available.

Wondering what homes have sold recently in your area? Visit www.justsoldinspokane.com

Great news! Homebuyer tax credit has been extended. Refer to information in the Notices. Some more good news, closed sales of single family homes on less than one acre including condos for October are up 15.2% over last month, 507 closed sales compared to 440 in September and up 15% over October last year. Average sales price for October was $177,072 while the median sales price was $164,900. Year to date sales through October total 3,831 down 12.4% compared to last year. The average sales price through October is $189,589 compared to $206,976 last year while the median sales price is $170,000 compared to $184,900 last year. These numbers are down 8.4% and 8.1% year to date respectively. The housing inventory is down 8% compared to last month and down 1% compared to last year. Year to date new home sales total 459 through October compared to 705 last year or down 34.9%. With the GOOD NEWS of the extension of the first time home buyers tax 8,000 tax credit and the new incentive of 6500 for other qualified buyers, I think things will come a long ways with a strong recovery!

Spokane Association of Realtor's Aug. 2009 Statistics:

For the first time since April 2007, going back over 2-1/2 years, we have exceeded the number of sales from the month the previous year. August 2009 sales totaled 488 compared to 475 in August 2008. The average sales price for August was $189,711 while the median sales price was $169,975.

Year-to-date sales through August total 2,884. This is down 16.8% compared to last year when 3,466 sales were reported on a year-to-date basis. The average sales price through August was $193,307 compared to the average sales price through August last year which was $208,353. The median sales price through August was $173,750 compared to $185,400. These sales price figures are down 7.2% and 6.3% respectively

The inventory as of this report stands at 3,466 which is virtually the same as last year. New home sales total 355 through August down 35.1% from last year through August when new home sales totaled 547.

Posted by: BethAnn Long of Tomlinson South Inc. 509-362-4607

www.BethAnnHomes.com

There were 500 closed sales reported in June which is up 28.2% over May when 390 closed sales were reported.

The average sales price for June was $192,970 and the median sales price was $177,500. Both numbers are up from May's average and median prices.

For the first half of the year closed sales total 1,859 compared to 2,407 over the same period last year. Sales are down 22.8%. The average sales price for the first half of this year was $193,888 down 6% compared to last year when the average sales price was $206,161. The median price was $173,500 for the first half of the year. The median sales price is down 5.8% compared to last year when the median price was $184,150.The inventory is running about 4% below last year. For the first half of this year new home sales reported to the Spokane Association of Realtors total 254 compared to 394 over the same period last year.

Keeping you informed, BethAnn Long with Tomlinson South Inc.

Statistics by: SAR

www.BethAnnHomes.com  

February 2009 closed sales increased significantly over January closed sales. Sales increased 68.6% over January 2009 sales. 194 residential properties on less than one acre were reported closed with an average sales price of $197,016 and a median sales price of $171,654.

For the first two months of 2009 sales are down 186 sales. The average sales price through February is $200,459 down 1.1% when compared to last year when the average sales price was $202,649. The median prices so far this year is down 3.9% and through February stands at $171,000 compared to $177,898 over the same period last year.Inventory for the third consecutive month is below the inventory at the same time last year. Our current inventory is 2,626 units compared to 2,778 last year. New home sales picked up this month with 39 closings reported in February, up from 20 sales reported in January.

Information provided by Spokane Association of Realtor's