Spokane Market

SPOKANE MARKET TRENDS

Spokane County

Facts & Trends

April 2025 was a Seller's market! The number of for sale listings was up 35.1% from one year earlier and up 27.7% from the
previous month. The number of sold listings decreased 2.7% year over year and increased 7.9% month over month. The number
of under contract listings was up 12% compared to previous month and up 0.4% compared to previous year. The Months of
Inventory based on Closed Sales was 2.5, up 39.2% from the previous year.
The Average Sold Price per Square Footage was up 3.3% compared to previous month and down 0.9% compared to last year.
The Median Sold Price increased by 3.5% from last month. The Average Sold Price also increased by 4.3% from last month.
Based on the 6 month trend, the Average Sold Price trend was "Neutral" and the Median Sold Price trend was "Appreciating".
The Average Days on Market showed a downward trend, an increase of 3.4% compared to previous year. The ratio of Sold Price
vs. Original List Price was 99%, was the same compared to previous year.

For Sale Vs Sold

Property Sales (Sold)

April property sales were 506, down 2.7% from 520 in April of
2024 and 7.9% higher than the 469 sales last month.

Current Inventory (For Sale)

Versus last year, the total number of properties available this
month was higher by 326 units of 35.1%. This year's bigger
inventory means that buyers who waited to buy may have
bigger selection to choose from. The number of current
inventory was up 27.7% compared to the previous month.

Property Under Contract (Pended)

There was an increase of 12% in the pended properties in April,
with 679 properties versus 606 last month. This month's
pended property sales were 0.4% higher than at this time last
year.

Average Price Per SQFT

Average Sold Price per SF was Appreciating*

The Average Sold Price per Square Footage is a great indicator
for the direction of property values. Since Median Sold Price
and Average Sold Price can be impacted by the 'mix' of high or
low end properties in the market, the Average Sold Price per
Square Footage is a more normalized indicator on the direction
of property values. The April 2025 Average Sold Price per
Square Footage of $222 was up 3.3% from $215 last month
and down 0.9% from $224 in April of last year.

* Based on 6 month trend Appreciating/Depreciating/Neutral

Days on Market

The Days on Market Shows Downward Trend*

The average Days on Market (DOM) shows how many days the
average property is on the market before it sells. An upward
trend in DOM trends to indicate a move towards more of a
Buyer’s market, a downward trend indicates a move towards
more of a Seller’s market. The DOM for April 2025 was 30,
down 11.8% from 34 days last month and up 3.4% from 29
days in April of last year.

The Sold/Original List Price Was Rising*

The Sold Price vs. Original List Price reveals the average
amount that sellers are agreeing to come down from their
original list price. The lower the ratio is below 100% the more of
a Buyer’s market exists, a ratio at or above 100% indicates
more of a Seller’s market. This month Sold Price vs. Original
List Price of 99% was up 1% % from last month and the same
as in April of last year.

* Based on 6 month trend – Upward/Downward/Neutral
** Based on 6 month trend – Rising/Falling/Remains Steady

Avg Price For Sale Vs. Sold

The Average For Sale Price was Appreciating*

The Average For Sale Price in April was $677,000, down 0.4%
from $680,000 in April of 2024 and up 1.3% from $668,000 last
month.

The Average Sold Price was Neutral*

The Average Sold Price in April was $487,000, up 1.2% from
$481,000 in April of 2024 and up 4.3% from $467,000 last
month.

The Median Sold Price was Appreciating*

The Median Sold Price in April was $440,000, up 0.9% from
$436,000 in April of 2024 and up 3.5% from $425,000 last
month.

* Based on 6 month trend Appreciating/Depreciating/Neutral

Months of Inventory

It was a Seller's Market*

A comparatively lower Months of Inventory is more beneficial
for sellers while a higher months of inventory is better for
buyers.

*Buyer’s market: more than 6 months of inventory
Seller’s market: less than 3 months of inventory
Neutral market: 3 – 6 months of inventory

Months of Inventory based on Closed Sales

The April 2025 Months of Inventory based on Closed Sales of
2.5 was increased by 39.2% compared to last year and up
19.1% compared to last month. April 2025 was Seller's market.

Months of Inventory based on Pended Sales

The April 2025 Months of Inventory based on Pended Sales of
1.8 was increased by 29.1% compared to last year and up
12.3% compared to last month. April 2025 was Seller's market.