Tuesday, January 7, 2020 / by Ariadne Gold
We did it! We made it through the holidays! Now it’s a new year, which means changes in the Real Estate market.
In the month of December, there were 347 new listings (all of these stats are for single family homes in Spokane county, under one acre.) In December of 2018 there were 304 new listings, which shows that our current market is still strong! I think this has a lot to do with the lack of snow. Once there is snow on the ground that actually sticks, the market may stall for a bit. 619 listings sold in the last month, and the average sale price was $294,000 (the average sale price for December of 2018 was $245,000!)
The sale price versus list price ratio was 99.37% versus 99.56% in December of 2018, so not much of a change there. The average days on market was 28, versus 44 in December 2018 so you can see that homes are being sold much quicker than last year.
The average list price of properties that did not sell was $323,000, meaning that even though the market is hot, homes that are overpriced are still sitting.
That is your market update for the month of December! As always, if you have any questions don’t hesitate to reach out. (509) 217-7172