Is Spokane, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
Since last year, Spokane has remained a Seller's Market.
Key Takeaway
Spokane is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Spokane, WA
How much do homes in Spokane, WA cost?
Median Sold Price
$397,932
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$22,933(+6.1%)
Key Takeaway
Homes in Spokane have sold for 6.1% more than they did a year ago.
Summary: The median home sold price in Spokane was $397,932 in August 2024, up 6.1% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $220K | $202.7K | -7.8% |
2 Bedrooms | $272.9K | $270K | -1.1% |
3 Bedrooms | $350K | $373K | + 6.6% |
4 Bedrooms | $424.9K | $435.6K | + 2.5% |
5+ Bedrooms | $552.1K | $578.7K | + 4.8% |
Summary: Spokane housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.8%, 2 bedroom homes decreased by 1.1%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 4.8%.
Median Sold Price Compared To Nearby Cities
CITY | Aug 2023 | Aug 2024 | CHANGE |
---|---|---|---|
Spokane | $374.9K | $397.9K | + 6.1% |
Spokane Valley | $414.3K | $416.1K | 0.4% |
Nine Mile Falls | $596K | $590K | -1.0% |
Spokane South | $675K | $652.5K | -3.3% |
Housing Supply in Spokane, WA
How many homes are available in Spokane, WA?
Number of Homes For Sale
Jul 2024 | Aug 2024 | CHANGE |
---|---|---|
1,361 | 1,538 | +13.0% |
Summary: The Spokane real estate market had 1,538 homes for sale in August 2024, a 13.0% increase compared to July 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 30 | 36 | + 20.0% |
2 Bedrooms | 177 | 194 | + 9.6% |
3 Bedrooms | 436 | 479 | + 9.9% |
4 Bedrooms | 435 | 497 | + 14.3% |
5+ Bedrooms | 283 | 332 | + 17.3% |
Summary: The Spokane housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 9.6%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 17.3%.
Number of Homes Sold
Jul 2024 | Aug 2024 | CHANGE |
---|---|---|
334 | 304 | -9.0% |
Asking Price vs. Sold Price
106 Homes Were Sold
Under Asking
95 Homes Were Sold
At Asking
100 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spokane, you may be able to get a good deal. 35.2% of homes here sold below asking price last month.
Summary: A total of 304 homes were sold or pending in Spokane in August 2024, down by 9.0% month-over-month. Of the 301 sold homes, 35% were sold under asking, 32% were sold at asking, and 33% were sold over asking.
Days on Market for Spokane, WA
How long does it take to sell a home in Spokane, WA?
Average Sale Time
Aug 2023 | Aug 2024 | CHANGE |
---|---|---|
22 Days | 25 Days | +14.8% |
Summary: Homes in Spokane had an average of 25 days on market in Aug 2024, up by 14.8% compared to last year.
Breakdown of Home Sale Times
217 Homes Were Sold
Under 30 Days
71 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Spokane are selling fast, if you're buying plan to act quickly.
Summary: During August 2024, 304 homes were sold in Spokane; 71% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.
Report Updated 16 Days Ago
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Newest Listings in Spokane, WA
What homes are available in Spokane, WA?
See More Listings
$4,305 Closing Credit*
$362,500
1,920 SqFt
3 Beds
•
2 Baths
2408 N Rebecca St, Spokane WA, 99217
Ethan Perreiah, Listing Office: Keller Williams Spokane - Main
$6,175 Closing Credit*
$520,000
1,918 SqFt
2 Beds
•
2 Baths
904 E 40th Ave, Spokane WA, 99203
Mary Frances Gence, Listing Office: Windermere Manito, LLC
$3,859 Closing Credit*
$325,000
1,680 SqFt
3 Beds
•
2 Baths
4018 N Hawthorne St, Spokane WA, 99205
Matt Raby, Listing Office: 4 Degrees Real Estate
$3,669 Closing Credit*
$309,000
1,676 SqFt
3 Beds
•
1 Bath
1311 W York Ave, Spokane WA, 99205
Perry Domini, Listing Office: 4 Degrees Real Estate
$10,000 Closing Credit*
$2,500,000
4,192 SqFt
4 Beds
•
4 Full Baths
1510 S Upper Terrace Rd, Spokane WA, 99203
Abbey Parsons, Listing Office: Coldwell Banker Tomlinson
$10,000 Closing Credit*
$2,500,000
3,684 SqFt
5 Beds
•
4 Full Baths
1536 S Upper Terrace Rd, Spokane WA, 99203
Abbey Parsons, Listing Office: Coldwell Banker Tomlinson
$10,000 Closing Credit*
$1,499,999
4 Beds
•
4 Baths
5227 S Lincoln Way, Spokane WA, 99224
Marie Pence, Listing Office: Windermere North
$4,900,000
7,067 SqFt
6 Beds
•
7 Baths
14107 N Boulder Park Ln, Spokane WA, 99208
Aaron Farr, Listing Office: REAL Broker LLC
$5,344 Closing Credit*
$449,999
2,392 SqFt
4 Beds
•
3 Baths
721 W Briar Cliff Ct, Spokane WA, 99218
Cameron Sargent, Listing Office: Windermere Liberty Lake
$4,269 Closing Credit*
$359,500
1,854 SqFt
2111 E Columbia Ave Unit 2115, Spokane WA, 99207
Robert Miller, Listing Office: Professional Realty Services
$5,225 Closing Credit*
$440,000
2,006 SqFt
4 Beds
•
2 Baths
7603 E E Msn, Spokane Valley WA, 99212
Listing Office: Coldwell Banker Tomlinson
$5,344 Closing Credit*
$450,000
1,688 SqFt
3 Beds
•
3 Baths
522 W Ivanhoe Rd, Spokane WA, 99218
Shannon Eaglin, Listing Office: Hocking Real Estate
Nearby Markets to Spokane, WA
What housing markets are near Spokane, WA?
- Spokane Valley Housing Market
- Spokane South Housing Market
- Nine Mile Falls Housing Market
MLS Disclaimers and Copyright
Based on information from Spokane Association of REALTORS® MLS, Northwest Multiple Listing Service, and Coeur d'Alene MLS for the period 09/01/2022 - 09/01/2024
Listings courtesy of Spokane Association of REALTORS® MLS as distributed by MLS GRID.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The data relating to real estate for sale on this web site comes in part from the Spokane Association of REALTORS®. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that data is deemed reliable but is not guaranteed accurate by the SARMLS. Real estate listings held by other brokerage firms are marked with the IDX logo and detailed information about them includes the name of the listing brokers. Copyright 2024 Spokane Association of REALTORS® MLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 9/17/2024, 12:10:53 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.
Disclaimer: The information contained in this listing has not been verified by Rocket Homes Real Estate, LLC and should be verified by the buyer. All information deemed reliable but not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. All properties are subject to prior sale, change or withdrawal. Neither broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The information on this web site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Days on site is calculated from the listing date of the current listing and includes the sum of market time from prior listings for the same property uninterrupted by a sale or more than 60 days off-market. Time off market, including time when a sale is pending, temporarily off market, etc. is not included.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 9/17/2024, 12:17:48 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Information displayed on this website on listings other than those of the website owner is displayed with permission of the Coeur d'Alene MLS and Broker/Participants of the Coeur d'Alene MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is from sources deemed reliable but is not guaranteed. Prospective buyers should verify information independently. Copyright © 2024 Coeur d’Alene Multiple Listing Service, Inc. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 9/17/2024, 12:20:55 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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