From the Spokane Association of REALTORS:
Aug. 2008:
August closed residential sales totaled 473. This total is down from 586 closed sales reported last month and down from 708 closed sales in August 2007. The average sales price for August was $203,493 and the median price was $185,000.
Year to date sales continue to lag behind last year. Through August closed sales total 3,454. The average sales price through August is $208,300 down 1.8% from one year ago. The median sales price of closed sales through
August is $185,500 compared to $186,000 over the same period last year.
Inventory as of this report is up slightly from last month. Compared to last year the inventory is up approximately 7%.
Sales of newly constructed homes totaled 74 in August up one from the 73 closed sales in July.
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In August of 2007, there were 709 closings, and in 2006 there were 807. With our current number of 473 for this year, it shows the incredible slow down as far as sales go.
The GOOD NEWS is that we are not seeing depriciation here, and intrest rates are great, so it is still great to buy real estate here in good old Spokane, WA.
posted by Spokane realtor: BethAnn Long Tomlinson South Inc www.bethannhomes,com
BethAnn Long ~ Spokane Realtor- Coldwell Banker Tomlinson South Inc.
509-362-4607
...there's no place like your home!
