January 2021
Strong buyer demand and a lack of sellers push inventory to new lows.
2
Average Sales Price
Current Listing Inventory
Average Days On Market
$347,112
163
17
Up 22.8%
Down 64.3%
Down 48.5%
Median Sales Price
Residential Closed Sales
Annual Residential Sales
$315,000
442
442
Up 16%
Down 2.9%
Down 2.9%
Spokane County Market Report | January 2021
Average Days On Market For the month of January 2021, month/year comparison 80
2017
2018
2019
2020
2021
70 60 50 40 30 20
17
10 0 January
February
March
April
May
June
July
August
September Octobe r November De cember
Annual Average Sales Price Year-to-date as of January
$347 $320K
$283
$256 $240K $159
$176
$164
$178
$189
2013
2014
2015
2016
$206
$225
$160K $80K $0K 2012
2017
2018
2019
2020
2021
Monthly Mortgage Rates Monthly 30-year fixed mortgage rates
3.90%
3.72%
3.70% 3.45%
3.50%
3.29%
3.33%
3.30%
3.23%
3.15% 2.99%
3.10%
2.91%
2.90%
2.88%
2.81%
2.71%
2.67%
Nov '20
De c '20
2.70%
2.73%
2.50% Jan '20
Feb '20
Mar '20
Apr '20
May '20 June '20 July '20
Aug '20
Sep '20
Oct '20
Jan '21
Spokane County Market Report | January 2021
3
Active Residential Listings As of 2/1/2021, month/year comparison
2017
2018
2019
2020
2021
2000 1500 1000 500
163
0 January
February
March
April
May
June
July
August
September Octobe r November De cember
Active Listings By Price Range As of 2/1/2021
40 30 20
2020
32 24 16
19
27 26
2021 30
24
20 14
12
21
$1M+ 9%
29 25
24
19
$800K-$1M 5%
34
33
18
17
21
20
12
$600K-$800K 15%
0-$150K 8%
$150-200K 6% 200K-$250K 11%
12
10
Spokane County Market Report | January 2021
+ $1 M
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
0
4
$250K-300K 11%
$500K-$600K 8% $450K-$500K 8%
$400K-$450K 5%
$350K-$400K 9%
$300K-$350K 5%
11315 E Flagstone Ln, Spokane Valley
Residential Closed Sales For the month of of January 2021, month/year comparison
2017
1000
2018
2019
2020
2021
750 442
500 250 0
January
February
March
April
May
June
July
August
September Octobe r November De cember
Sold Listings By Price Range Year-over-year comparison for the month of January
2020
$250K-300K 19%
61
46
43 33
28
$350K-$400K 12%
$300K-$350K 15%
2021
78
74
69
75 50
98 96 93
97
100
36 16
25
34
29
25
20
$400K-$450K 7% $450K-$500K 6%
27 18 2
8 0
8
+ $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
$500K-$600K 7%
200K-$250K 14%
0
$150-200K 6%
$800K-$1M 2%
0-$150K 5%
$600K-$800K 5%
Annual Residential Sales Year-to-date as of January
467
500 400 300
252
346
351
2015
2016
378
455
442
2020
2021
366
283
210 200 100 0 2012
2013
2014
2017
2018
2019
Spokane County Market Report | January 2021
5
Annual Residential Sales Year-to-date Re-Sale vs New Construction as of January
New
Re-Sa le
400 300 412 200
317
306
330
379
387
316
206
248
21
46
35
29
45
48
55
50
76
56
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
100
189
0
Annual Average Sales Price Year-to-date Re-Sale vs New Construction as of January
Re-Sa le
$430
New
$379
$400K $300K $200K
$351
$335
$150
$261
$256
$234
$285
$157
$195
$176
$169
$151
$280
$276
$237
$210
$335
$269
$100K $0K 2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Average Price Per Square Foot Monthly Re-Sale vs New Construction comparison $220 Re-Sa le
New
$195
$189 $177
$180
$140
$133
$139
$141
$178
$177
$176
$174
$145
$145
May '20
June '20
$149
$189
$181 $155
$155
Aug '20
Sep '20
$155
$194
$189
$152
$154
Nov '20
De c '20
$189
$157
$100 Feb '20
6
Mar '20
Apr '20
Spokane County Market Report | January 2021
July '20
Oct '20
Jan '21
Annual New Construction Sales Year-to-date as of January
90 80
76
70 60 50
56
55 50
48
45
40 30 20 10 0 2016
2017
2018
2019
2020
2021
Comparison New Construction Sales YTD year-over-year comparison as of January
40
2020
2021
35
32
30 26
25
25 20 15 10
12 8
9
9 7
5 0 West Pla ins
Spokane South
Spokane Valley
Spokane North
Spokane County Market Report | January 2021
7