Friday, November 29, 2019 / by Connie Tracy
Happy Thanksgiving and Tis' the season for the Spokane Real Estate Market slow down. If you are looking to purchase a home and you are truly serious, don't mind the chilly temperatures, and can find time to look for a home in the hustle and bustle of the holiday season, WHEW! then now is a great time to get a house with less competition. Just remember to have all of your documents ready to go!
The market will continue to slow down and prices will remain stable or maybe even drop a little. Come February, prices will go back up, and more homes will be listed, to beat the Spring rush! So, now is a SUPER time to get your offer accepted! Just be patient.... Multiple offers continue occur in a variety of price ranges.
The market is less competitive for sellers. If you can manage selling your home in the winter months, and your home is priced to the fair market value, you may get some sweet offers in a matter of time. If you are kicking around the idea of selling in the Spring, think twice about that. Start working on your home and get it ready so you can get it listed before the mad Spring rush. So when is a good time to list? FEBRUARY! Yep, you will beat everyone else!
There are currently 1702 active listings! What? That is it? for the WHOLE county?
It continues to drop each week just like the temperature... Brrrr... There are 963 homes in escrow and a 57% pending ratio. Last week there were only 129 new listings. That is a huge drop from the previous week of 133 homes. So, even though that isn't much of a dip, it will continue to do the same weekly. Yep, as you guessed, it is still a crazy Seller's market out there with 1.2 months of inventory! This continues to be the norm this month. Remember, these are stick-built single family homes listed by a Spokane Realtor.
Until next week....