Thursday, January 9, 2020 / by Katrina Miller
According to Spokane Journal, Rob Higgins, executive vice president of the Spokane Association of Realtors, expects the real estate market in Spokane 2020 to be similar to 2019, with sales of single-family homes expected to drop about 3% overall by year-end.
This week the market sits at 1.1 inventory. Below 4 months is usually considered a sellers market and above 6 is considered a buyers market. Spokane Journal states that economic growth, historically low-interest rates, and escalating rents have contributed to demand.
1,270 homes are active on the market with 749 in escrow making it a 59% pending ratio. Things are picking up, we have 147 new homes on the market just this week compared to last week we only had 82 new homes.
Now is the time to start your real estate adventure. Do not wait until Spring or Summer. Talk to a lender now, research how to improve your home to sell for the most money now, start asking questions now so you are ahead of the curve.
Reach out to me with any questions or tools you might need, I am happy to help!