If you need assistance, please call 509-590-4701

Current Market Update Week of 10/18

Monday, October 21, 2019   /   by Amanda Peckham

Current Market Update Week of 10/18

We are currently in a market of 1.2 Month Inventory.  So what does this mean for Sellers and Buyers.  This means there are currently more buyers looking for homes then actual homes on the market.  To give you an idea, a balanced market is 5.5 month inventory, so we are still in a very strong seller's market.    

From a seller's perspective this is still a hot selling market and homes are selling quickly when priced at market value.  We are still seeing many homes go into multiple offers when priced right.  Even though we are going into the cold winter season this market does not look like it is slowing down.  If you are wondering why you see some homes sitting on the market and some even doing price drops. These homes are usually overpriced and not being listed at the current market value. 
From a buyer's perspective this means that even though we are getting into the fall and winter months the market is not slowing down.  So you want to make sure that when you love a home you are putting in a strong offer.  Also having an agent that as soon as a home comes on the market that you like that you are seeing that home as soon as possible.  Another component as a buyer looking for a home is making sure you have that pre-approval letter from your lender. This is very important because when you find that home you love, you want to be able to make an offer as soon as possible.  So make sure to work with your lender and have that pre-approval letter ready. 
If you have any questions about the current market or any other real estate questions please feel free to contact me anytime.  I would be happy to answer any questions or guide you through the process of selling or buying a home. 

Amanda Peckham 
Haven Real Estate 

  selling home, spokane real estate, home selling, getting ready to sell, selling a house, amanda peckham

Haven Real Estate Group
Cambria Henry
304 W Pacific Ave; Suite 360
Spokane, WA 99201

IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that data is deemed reliable but is not guaranteed accurate by the MLS.
MIMLS The data relating to real estate for sale on this web site comes in part from the Spokane Association of REALTORS® MLS. Real estate listings held by brokerage firms other than Haven Real Estate Group are marked with the IDX logo. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Haven Real Estate Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Copyright 2020 of the Spokane Association of REALTORS® MLS. All rights reserved.