Thursday, November 28, 2019 / by Amber Tice
The Spokane real estate market is holding steady with 1.2 months worth of inventory. This means that it would take just over one month to sell all the listed homes on the market right now. This information is compiled using residential stick built homes on less than an acre. Haven Real Estate Group does not include condos, or manufactured homes in this update.
Closed sales: Single family homes on less than an acre including condos are up by 22.8% for October 2019.
Average Price: The average price of a single family home for October 2019 was $287,985 up 8.9%
Home prices may be rising, but if you are a buyer in this market it might not be a good idea to wait. Not only is winter a good time for buyers to get out there, but interest rates could rise, home prices are continuing to rise, and you may be pricing yourself out of the market.
If you are a seller the market continues to rise in your favor. Even in these winter months homes are continuing to sell. Don’t forget! I would be more than happy to do a comparative market analysis on your home giving you the most up-to-date information regarding your home and your neighborhood.
If you are looking to buy are sell in the Manito Park area:
13 homes have sold in the last 6 months near Manito Park at an average price of $423,846. These homes sat on the market for an average of 10 days. The longest a home sat on the market was 35 days. Manito Park boasts a lot of history and is home to a lot of older homes built in the early 1900’s that have been restored either to their original luster, or to an updated version sure to attract even the pickiest of buyers.
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