Friday, November 15, 2019 / by Connie Tracy
Holy Cow! It is already the middle of November! I know know about you, but I am starting to think about the holidays and getting my house decked out for Christmas! Maybe..it's a little early to think about putting the tree up.
With the cooler days and threat of snow in the air, this is one reason our market is slowing down. It is the seasonal dip in the Spokane market that occurs this time of year.
Inventory still is holding at 1.3 months which means that if nothing else came on the market, everything would be sold in 1.3 months. This is a crazy notion, since there are so many buyers still looking for a home before the holidays get started. Keep in mind a balanced market is 5-6 months. We are nowhere close to that!
This week there are only 986 active listings in Spokane County. That is a drop of 54 homes last week. Remember, this is referring to all single-family homes with less than an acre and can be financed and listed by a Spokane Realtor. There are only 780ish homes! If you narrow that down further, there will be a significant drop! Let's say.. you are looking for a home with 3-4 bedrooms, you want a 2 car garage or bigger, a fenced yard for your pets, and you want to live in the valley, your options decrease tremendously. As a matter of fact, that brings the active listings down to 16 homes with those must-have features! That is not much when you look at our population and buyers that want that area.
As you can see, it continues to be a VERY STRONG Seller's market. Even though, it's cooling down in Spokane, this is STILL a HOT time to list your home!
Until next week...