January 2009 was a quiet month for Spokane Real Estate. There was a total of 115 closings for the month, down from 285 in December 2008 and in January of 2008 there was 201 closings. The total number of listings was 2530. Odds of selling* in the month of Jan. 2009 was at 5%.
*The odds of selling your home depend on a number of factors: the price and condition of your home; the supply and demand for homes in your price range and neighborhood; overall economic conditions; and your choice of a Realtor. Using the number of total listings vs. the actual number sold, gives you your odds of selling.
My personal opinion is that many buyers are waiting till Spring, when Real Estate in Spokane usually "picks up" because of better weather conditions , and to see what the economy is going to do with the new president and stimulous packages. I am hoping that Spring 2009 will be a very good time for Spokane Real Estate, with good forward movement. With excellent interest rates, great home selection, competitive pricing and tax incentives this is a great buyers market!
If you would like to recieve a monthy Real Estate Trends Report for Spokane, Wa. e-mail me at bethann@tb.com
BethAnn Long ~ Spokane Realtor- Coldwell Banker Tomlinson South Inc.
509-362-4607
...there's no place like your home!
I agree BethAnn - I thnk Spring will be good for us all here in the Spokane area. I have been busier with pre-qualifications lately for people anticipating purchasing a home soon (1-3 months). The 3 questions I have been getting a lot of lately are : 1) Are home prices going to fall some more? 2) Are interest rates going to go down? 3) Is the government going to offer a low rate or specialized program for home buyers? These concerns are keeping some people on the sidelines rather than being "in the game".
BethAnn, The odds of seeing a for sale sign, in January, in Spokane, with your weather was less than 95 to 1... :)
Beth Ann,
Interestingly, in Pullman we are beginning to see things pick up a bit earlier than usual...go figure! I just hope it continues for us...and picks up for you here in the Spring with gangbusters!