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Spokane Real Estate Market Update for the week of 12/13/2019

Friday, December 13, 2019   /   by Dixie Simon

Spokane Real Estate Market Update for the week of 12/13/2019

Not a lot has changed in the market since last week. We are still experiencing low inventory with 1.3 months at best. We had 94 new listings hit the MLS this week. 27 homes went BOM this week for one reason or another. We also had 72 existing listings that have price drops, which IS something new. Just taking this week's numbers into account, we had 92% of the 72 homes having a price drop.

While the trends are mixing it up a bit, that does not necessarily equate that it is a bad thing. In the last month, we have sold 179 homes, and 1367 homes are pending closing. With interest rates still great for buyers coupled with the lack of inventory, our Spokane market is HOT and moving forward in a positive direction. 

The key is for dedicated buyers, this is a super-duper time for you to jump into action. Less competition because many people either don't have to buy right now, are panty wastes when it comes to cold weather, and do not understand the magnitude of lower interest rates, low buyer competition and sellers nervous and wanting to sell. 

The days are extremely short here in the Northwest but there is a lot of positive happening in the world of Real Estate. 

Let it Snow, Let it Snow, Let it Snow                   

See you next week.

Dixie with Haven Real Estate Group
Feel free to contact me directly anytime at 509-385-4441

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Haven Real Estate Group
Cambria Henry
304 W Pacific Ave; Suite 360
Spokane, WA 99201

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