Spokane Wa Real Estate Voice

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