Friday, October 25, 2019 / by Jennifer Gilbertz
Spokane, WA real estate market is holding strong and is continuing to be a top seller’s market. As a Spokane Realtor working with Haven Real Estate Group, we keep a close watch on the current real estate market trends on a weekly basis. For you, this means you will have access to the most up to date housing market information for our area and will have access to links to further educational blogs and videos relating to the current Spokane housing market, as well as, home selling and home buying educational tools.
We are currently holding at a 1.2 month supply of homes in our real estate market here in Spokane, WA. This monthly calculation of homes is based on the percentage of home buyers that are ready and able to purchase versus the amount of homes that are currently available in today’s Spokane, WA real estate market. For example; if suddenly no more homes were going on market for sale and at the current buyer purchasing rate, all the current homes for sale would sell in 1.2 months. A balanced market is around 5-6 month supply of homes. A balanced market does not favor either the home buyer or home seller. Both have an equal advantage.
Last week in Spokane County we had 170 new listings go on market. This is more homes new on market than the previous week of 163 homes new on market. We are holding at similar numbers which is a great sign for our local Spokane economy. For a home seller this is good news as low inventory of homes continues through the winter months which encourages buyers to be more competitive for your home.
As a seller you can expect your home to be under contract realistically in a week or less if your home is priced within a realistic price range and you hire a real estate professional to provide an individualized marketing strategy for your specific home. As a Spokane Realtor, we are continuing to see homes having multiple offers within the first few days of going on market.
If you are in the market to a purchase a home in the current Spokane housing market you will have the buyer advantage if you select a reputable mortgage lender and a top rated buyer’s agent. Purchasing a home is currently very competitive for home buyers, however, there are always advantages of purchasing a home in a seller’s market.
For more information on this please reference educational blogs and videos at Jennifer.Viewhomesinspokane.com