M a r k e t
R e p o r t
Monthly Market Report for Spokane County December 2023
county
Spokane 20 23
Average Sales Price
Current Listing Inventory
Median Days On Market
$409,501
700
28
Down 3.8% from prior month Down 1.7% from prior year
Down 29.2% from prior month Up 7.9% from prior year
Up 47.4% from prior month Down 9.7% from prior year
Median Sales Price
Residential Closed Sales
Annual Residential Closed Sales
$375,000
327
5,515
Down 7.4% from prior month Down 1.9% from prior year
Down 13.5% from prior month Down 17.8% from prior year
Down 17.7% from prior year
Information pulled on 01/02/2023 The information in this report is compiled from a report given by the Spokane Association of REALTORS® and to the best of our knowledge is accurate and current.
Median Days On Market As of 1/2/2023. By month dating from January 2019 to December 2023. Days on Market is the median number of days between when a property is listed and the contract date. 50 40 28
30 20
31 24
19 17 18 20
23 14 9
10
12
15
17 12 5 4 6 5 4 5 5 5 6 6 5 4
3 4 4 4 4
5 5 5 7
8 7
4 4 4 4 5
6
10
14
28 23
22
20 20
17 16 9
7 6 7 8
12
14 15
10
07
20 23 -
04
20 23 -
01
20 23 -
10
20 23 -
07
20 22 -
04
20 22 -
01
20 22 -
10
20 22 -
07
20 21 -
04
20 21 -
01
20 21 -
10
20 21 -
07
20 20 -
04
20 20 -
01
20 20 -
10
20 20 -
07
20 19 -
04
20 19 -
20 19 -
20 19 -
01
0
Annual Median Sales Price Year-to-date as of December. Median Sales Price is the mid-point (median) value where the price for half of the closed sales is higher and half is lower. $450K $400K
$415
$410
2022
2023
$370
$350K $300 $300K $250K
$260 $235
$200K 2018
2 2
2019
Spokane Spokane County County Market Market Report Report | December | December 20222023
2020
2021
Months Supply of Inventory As of 1/2/2023. By month dating from January 2019 to December 2023. Months Supply of Inventory is the number of months it would take to sell the available inventory at the current rate.
10
07
20 23 -
04
20 23 -
01
20 23 -
10
20 23 -
07
20 22 -
04
20 20 -
01
20 22 -
10
20 22 -
07
20 21 -
04
20 21 -
01
20 21 -
10
20 21 -
07
20 20 -
04
20 20 -
01
20 20 -
10
20 20 -
07
20 19 -
04
20 19 -
20 19 -
20 19 -
01
2.9 3.2 2.7 2.8 2.3 2.3 2.3 2.3 2.12.1 2.1 2.4 2 1.91.9 2 2 1.81.81.7 1.8 1.71.6 1.7 1.7 1.7 2 1.5 1.31.41.21.4 1.31.21.21.31.3 1.3 1.6 1.1 0.9 1.2 0.80.70.70.7 0.80.8 0.8 0.60.5 0.5 0.60.6 0.6 0.50.60.50.7 0.8 0.4 0.3 0.40.40.40.40.4 0.4 0
Sale-to-List Price Ratio As of 1/2/2023. By month dating from January 2019 to December 2023. Sale-to-List Price Ratio is the average of sales price divided by the final list price expressed as a percentage.
99.8%
99.8% 99.1% 98.7%
07
20 23 -
04
20 23 -
01
20 23 -
10
20 23 -
07
98.7%
10
99.4%
20 22 -
04
101.2%
20 22 -
01
20 22 -
10
20 22 -
07
20 21 -
20 21 -
04
20 21 -
01
20 21 -
10
20 20 -
07
20 20 -
04
20 20 -
01
20 20 -
10
20 19 -
07
20 19 -
04
20 19 -
20 19 -
01
105.4% 105.3% 106.0% 105.0% 105.0% 104.0% 103.0% 103.0% 101.2% 101.7% 101.4% 101.3% 101.3% 101.5% 102.0% 101.2% 100.3% 101.0% 99.6% 99.4% 100.0% 99.0% 98.0%
Monthly Mortgage Rates Monthly 30-year fixed mortgage rates highlighting the week ending Thursday, December 28, 2023. 8.00%
7.79%
7.75% 7.50%
7.18%
7.25% 7.00%
6.79%
6.75% 6.50%
6.50%
6.42%
6.32%
6.71%
7.31%
7.22%
6.81% 6.61%
6.43%
6.13%
6.25% 6.00% De c '22
3
Jan '23
Feb '23
Spokane County Market Report | December 2023
Mar '23
Apr '23
May '23 June '23 July '23
Aug '23
Sep '23
Oct '23
Nov '23
De c '23
Active Residential Listings As of 1/2/2023. By month dating from January 2019 to December 2023. Active Inventory is the number of properties for sales at the end of the month, based on the contract date. 1437 1053
1008 677
700
658
412
10
07
20 23 -
04
20 23 -
01
20 23 -
10
20 23 -
07
04
20 22 -
01
20 22 -
10
20 22 -
04
1096
224
07
01
1,014 566
563
20 21 -
276
20 21 -
225
20 21 -
10
500
20 21 -
07
20 20 -
04
521
20 20 -
01
709
20 20 -
10
20 20 -
07
20 19 -
20 19 -
04
583
1048
20 22 -
1090
20 19 -
20 19 -
01
1600 1400 1200 1000 838 800 600 400 200 0
Active Listings By Price Range As of 1/2/2023. 175 150 125 100 75 50
95 90 73
71 53
38 21
146
2023
124 103 109
112 103 87
$800K-$1M 8%
101 78
70
56
49
0-$150K 4%
$1M+ 8%
$150-200K 2%
200K-$250K 3% $250K-300K 6%
$600K-$800K 16%
$300K-$350K 6%
43
25 15 15 21 $350K-$400K 10%
$500K-$600K 14%
$1 M
+
0$1 50 K $1 50 -2 00 20 K 0K -$ 25 0K $2 50 K30 0K $3 00 K$3 50 $3 K 50 K$4 00 $4 K 00 K$4 50 $4 K 50 K$5 00 $5 K 00 K$6 00 $6 K 00 K$8 00 K $8 00 K$1 M
25 0
2022
$400K-$450K 12%
$450K-$500K 11%
New Residential Listings As of 1/2/2023. By month dating from January 2019 to December 2023. New Listings is the number of properties listed regardless of current status. 1200 976
1000
1055
1001 819
800
805 638
614
1001
981 861
789
782
748
686
798
658 509
600
643 517
483
319
400
4
Spokane County Market Report | December 2023
10
07
20 23 -
04
20 23 -
01
20 23 -
10
20 23 -
07
20 22 -
04
20 22 -
01
20 22 -
10
20 22 -
20 21 -
07
04
20 21 -
01
20 21 -
10
20 21 -
07
20 20 -
04
20 20 -
01
20 20 -
10
20 20 -
07
20 19 -
04
20 19 -
20 19 -
20 19 -
01
200
Residential Closed Sales As of 1/2/2023. By month dating from January 2019 to December 2023. Closed Sales is the number of properties sold. 860
928
851
870
849 732 654
574
607
548 465
458
604 456
432
444 377
402 327
01 20 23 20 -04 23 -0 7 20 23 -1 0
10
20 23 -
07
20 22 -
04
20 22 -
01
20 22 -
10
20 22 -
07
20 21 -
04
20 21 -
01
20 21 -
10
20 21 -
07
20 20 -
04
20 20 -
01
20 20 -
10
20 20 -
07
20 19 -
20 19 -
04
250
20 19 -
20 19 -
01
1000 900 800 700 600 500 368 400 300 200
Sold Listings By Price Range Year-over-year comparison for the month of December.
2022
2023 61
34
59
54 56
51 43
40
50 38
31
36 36
21
$400K-$450K 13%
$450K-$500K 8%
$300K-$350K 15%
32 $500K-$600K 9%
20 8 8
$250K-300K 10%
+
12
$1 M
10
16 15 17
$350K-$400K 14%
70
0$1 50 K $1 50 -2 00 K 20 0K -$ 25 0K $2 50 K30 0K $3 00 K$3 50 $3 K 50 K$4 00 $4 K 00 K$4 50 $4 K 50 K$5 00 $5 K 00 K$6 00 $6 K 00 K$8 00 K $8 00 K$1 M
90 80 70 60 50 40 30 20 10 0
200K-$250K 9%
$150-200K 5%
0-$150K 4%
$600K-$800K 8% $800K-$1M 3%
Annual Residential Closed Sales Year-to-date as of December. Closed Sales is the number of properties sold. 8500
8348
8268
8337
7982
8000 7500 6700
7000 6500 6000
5515
5500 5000 2018
2019
2020
2021
2022
2023
Spokane County Market Report | December 2023
5
Annual Residential Closed Sales Year-to-date Re-Sale vs New Construction as of December. Closed Sales is the number of properties sold. New
9000 8000 7000 6000 5000 4000 3000 2000 1000 0
Re-Sa le
7510
7173
7064
7336 5876
4696
838
919
1095
1001
824
820
2018
2019
2020
2021
2022
2023
Annual Median Sales Price Year-to-date Re-Sale vs New Construction as of December. Sales Price is the mid-point (median) value where the price for half of the closed sales is higher and half is lower. $550K
Re-Sa le
New
$500
$500K
$470
$445
$450K
$400
$400K
$337
$350K
$364
$355
$390
$360
$288
$300K
$250
$225
$250K $200K $150K
2018
2019
2020
2021
2022
2023
Median Price Per Square Foot As of 1/2/2023. Monthly Re-Sale vs New Construction comparison. Price per Square Foot is the mid-point (median) PPSF of all closed listings. $300
Re-Sa le
$267 $249
$244
$250 $225 $200
New
$266
$275
$186
$192
Jan '23
Feb '23
$199
$266
$259
$260
$257
$254
$244
$246
$236
$206
$210
Apr '23
May '23
$207
$211
June '23
July '23
$207
$205
Aug '23
Sep '23
$196
$203
$197
Nov '23
De c '23
$175 $150 Mar '23
Oct '23
Spokane County Market Report | December 2023
6
cbspokane.com The information in this report is compiled from a report given by the Spokane Association of REALTORS® and to the best of our knowledge is accurate and current. ©Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. Not intended as a solicitation if your property is already listed by another broker. Information deemed reliable but not guaranteed and should be independently verified.