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Spokane Market Update for the Week of 11-15-2019

Friday, November 15, 2019   /   by Dixie Simon

Spokane Market Update for the Week of 11-15-2019

This is the Spokane Market Update for the Week of 11-15-2019

Not a lot has changed in the market since last week. We are still very low in inventory with 1.2 months at best. We had 101 new listings hit the MLS this week. We also had 53 Existing listings that have price drops, which IS something new. Just taking this week's numbers into account, we had 53% of homes having a price drop. That is not truly accurate, but you get the idea. Things are mixing it up a bit, but that does not necessarily mean it is a bad thing. In the last month, we have sold 969 homes, and the median home sold for $247K which is up 8% over last year this same time frame. With interest rates still great for buyers and the lack of inventory, our market is still driving in a positive direction. 

While the frenzy of summer buyers has calmed down, and the days are getting extremely short here in the Northwest, there is a lot of positive happening in the world of Real Estate. 

See you next week.

Dixie with Haven Real Estate Group
Feel free to contact me directly anytime at 509-385-4441

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

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