Spokane Real Estate Statistics for February 2012 \
Source: Spokane Association of Realtors
Residential closed sales (residential site built on less than one acre and condo) continue to outpace last year. In
February 269 sales were reported. This number is up 63 sales over January 2012 amounting to a 30.6% increase. (over last month)
Compared to February last year the number of sales are up 79 or 41.6%. The average sales price was $155,679 for February, virtually the same as January. The median sales price for February was $144,900 again very similar to January.
Compared to February one year ago the average price is down 6.5% while the median price is down 3.4%.
Year to date ( number of ) sales are up 27%. The number of sales through February this year total 475 compared to 374 over the same time last year. The average and median sales price through February are down 9.7% and 5% respectively. What the industry terms distressed sales (short sales and REO sales) are significantly impacting prices and will continue to impact the average and median price going forward.
Inventory compared to last month dropped 17.9% and compared to last year at this time inventory is down
10.8%. New home construction sales are down 17.9% so far this year but prices seem to be stabilizing. (SAR)
I am hoping Spring will bring a flurry of activity. As stated, prices are down, number of sale contracts are up FROM LAST YEAR, and listing inventory is coming down, which we are hoping will create a more balanced/ healthy market for all.
BethAnn Long ~ Spokane Realtor- Coldwell Banker Tomlinson South Inc.
...there's no place like your home!