Friday, November 1, 2019 / by Jody Lee
Market update for October 26th – November 1st
The greater Spokane area is still in a Sellers Market. No big surprise especially if you’re a buyer trying to find a home in this market. Its hard to not get discouraged but with an amazing agent who is working for you will be actively looking for your dream home. You can still find that elusive home, 650 people did within the last 30 days.
With 1.3 Months of inventory right now, keep looking, hurry and schedule your showings as each new listing comes onto the Market. There are 1965 homes right now on the market, those homes are Stick built homes within Spokane county, and are sitting on under 1 acre. We had 151 new listings last week, yes it may be down 19 homes from the previous weeks numbers but keep scrolling thru them, your house may be hiding in there somewhere.
Sellers you may think because it’s a sellers market and expect that buyers are lining up to buy your home, but the number of homes sold in the last 30 days was 650! That is down by 172 homes. Wow. Buyers are slowing down too, its getting colder outside, school is getting into full swing and the Holidays are right around the corner. Most have probably even signed another year lease when they couldn’t find a home in the small window of opportunity that they had. They will be back in the spring.
Spokane and surrounding areas are still growing. There are numerous new businesses opening to help support this growth and providing more Jobs.
North East Spokane is welcoming a couple new restaurants. Be sure to check out just a few that I saw recently such as Barnwood Social Kitchen & Tavern, this pub and grill is located on the corner of Market and Liberty. Market Street pizza just recently opened @ 2721 N Market.
Also, The YARD in Northeast Spokane is poised for redevelopment and growth. With over 800 acres it and plans for industrial Improved transportation and strong market demand are driving new development. Esmeralda Commerce Park situated on 22 acres in The YARD. This project will feature five buildings and industrial and distribution space. The North South Corridor has finally reached the edge of the area of The Yard. With all this growth just in North East Spokane the rate that Spokane is expanding is quite remarkable.
If you would like more information please give me a call, I’d love to sit down with you and help you buy or sell your home.
Haven Real Estate Group