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Spokane Market Update for the Week of December 20, 2019

Sunday, December 22, 2019   /   by Amber Tice

Spokane Market Update for the Week of December 20, 2019

We are seeing 1.5 months worth of inventory here in Spokane for this week.. For those who are just starting to follow the real estate market what this means is that if no other homes came on the market it would take about a month-and-a-half to sell all of them.  This number is slightly up from previous weeks.


There are 1476 active listings and 834 are already in escrow.  This means more than half of the homes that show as available are actually under contract.  We have 82 new listings this week. This number is down compared to last week. 533 homes have sold in the last 30 days.


We are seeing a major slow down in the amount of homes that have sold.  This is due to the winter months, but rest assured the buyers who are still out there looking are the buyers who are in need of a home ASAP.  


If you are looking to get the most for your home it might benefit you to list in early February-April.  These are the months that we see an increase of active buyers. The weather starts warming up and Spring is just around the corner.  


If you are a home buyer out there this is the time to put an offer on a home.  There is more inventory than the summer months AND there is less competition. Homes are sitting on the market longer and home prices are starting to drop.  GET OUT THERE! It will not benefit you to wait until the Spring. Home prices will rise and more buyer will be out there looking increasing the difficulty of your offer getting accepted.


XOXO,


Amber 
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Haven Real Estate Group
Cambria Henry
304 W Pacific Ave; Suite 360
Spokane, WA 99201
509-590-4701

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