January 2024
Average Sales Price
Current Listing Inventory
Median Days On Market
$420,739
703
20
Up 2.9% from prior month Up 4.6% from prior year
Down 2.8% from prior month Up 19.4% from prior year
Down 28.6% from prior month Down 9.1% from prior year
Median Sales Price
Residential Closed Sales
Annual Residential Closed Sales
$384,000
245
245
Up 2.4% from prior month Up 2.8% from prior year
Down 31.8% from prior month Down 20.2% from prior year
Down 20.2% from prior year
Information pulled on 02/01/2024 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 2/1/2024. By month dating from January 2020 to January 2024. Days on Market is the median number of days between when a property is listed and the contract date. 35
31 28
30 23
22
25 20
14
12
15 10
5 4 6 5 4 5 5 5 6 6 5 4 5 5 5 3 4 4 4 4
5
7 8 7
20 20
17 16 12
10
9
6 4 4 4 4 5
20
14 15
7 6 7 8
01
04
07
10
01
20 22 -
20 22 -
20 22 -
20 22 -
20 23 -
01
10 20 21 -
10
07 20 21 -
20 24 -
04 20 21 -
20 23 -
01 20 21 -
07
10 20 20 -
20 23 -
07 20 20 -
04
04 20 20 -
20 23 -
01 20 20 -
0
Annual Median Sales Price Year-to-date as of January. Median Sales Price is the mid-point (median) value where the price for half of the closed sales is higher and half is lower. $400K
$375
$374
$384
2022
2023
2024
$350K $315 $300K $250K
$272 $235
$200K 2019
2 2
Spokane Spokane County County Market Market Report Report | December | January2022 2024
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
01
07 20 20 -
20 24 -
04 20 22 -
20 23 -
01 20 22 -
07
10 20 21 -
20 23 -
07 20 21 -
04
04 20 21 -
01
01 20 21 -
20 23 -
10 20 20 -
10
07 20 20 -
20 23 -
04 20 20 -
20 22 -
01 20 20 -
2.9 2.9 3.2 2.7 2.8 2.3 2.3 2.3 2.1 2.1 2.1 2.4 2 2 1.8 1.7 1.6 1.7 1.7 1.7 2 1.5 1.3 1.6 1.3 1.2 1.2 1.3 1.3 1.1 1.2 0.8 0.7 0.7 0.7 0.8 0.8 0.8 0.6 0.5 0.6 0.6 0.5 0.7 0.5 0.4 0.4 0.4 0.4 0.4 0.6 0.6 0.8 0.4 0.5 0.3 0.4 0
Sale-to-List Price Ratio As of 2/1/2024. By month dating from January 2020 to January 2024. Sale-to-List Price Ratio is the average of sales price divided by the final list price expressed as a percentage. 105.4%
105.3%
105.0% 103.0%
101.3%
101.5%
101.7%
101.2%
101.4%
101.2%
99.8%
99.4%
99.8% 99.1%
04
07
10
01
04
07
10
01
04
07
10
01
04
07
10
01
20 20 -
20 20 -
20 20 -
20 21 -
20 21 -
20 21 -
20 21 -
20 22 -
20 22 -
20 22 -
20 22 -
20 23 -
20 23 -
20 23 -
20 23 -
20 24 -
98.7%
01
98.7%
20 20 -
106.0% 105.0% 104.0% 103.0% 102.0% 101.0% 100.0% 99.4% 99.0% 98.0%
Monthly Mortgage Rates Monthly 30-year fixed mortgage rates highlighting the week ending Thursday, February 1, 2024. 8.00%
7.79%
7.75% 7.50%
7.18%
7.25% 7.00%
6.79%
6.75%
6.50%
6.50% 6.25%
6.32%
6.71%
7.31%
7.22%
6.81% 6.61%
6.63%
De c '23
Jan '24
6.43%
6.13%
6.00% Jan '23
3
Feb '23
Mar '23
Spokane County Market Report | January 2024
Apr '23
May '23 June '23 July '23
Aug '23
Sep '23
Oct '23
Nov '23
Active Residential Listings As of 2/1/2024. By month dating from January 2020 to January 2024. 1600 1400 1200 1000 800 583 600 400 200 0
709
01
04
07
10
20 20 -
20 20 -
20 20 -
20 20 -
Active Inventory is the number of properties for sales at the end of the month, based on the contract date.
1048
1008 677 521
1,014 566
563
500
1096 703
658
276
01
04
07
10
01
04
07
10
01
04
07
10
01
20 21 -
20 21 -
20 21 -
20 21 -
20 22 -
20 22 -
20 22 -
20 22 -
20 23 -
20 23 -
20 23 -
20 23 -
20 24 -
412
225
224
Active Listings By Price Range As of 2/1/2024. 175 150 125 73
71 53
87
101 78
70
56
49
$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%
+
38 21
112 103
$800K-$1M 8%
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
95 90
124 103 109
0-$150K 4%
$1M+ 8%
146
2024
$1 M
100 75 50
2023
$400K-$450K 12%
$450K-$500K 11%
New Residential Listings As of 2/1/2024. By month dating from January 2020 to January 2024. New Listings is the number of properties listed regardless of current status. 1200 1001 805
800
638
1001
981
1000
861
789
782
748
686
798
658 509
600
643
631
517
483
400
4
01
04
07
10
01
04
07
10
01
04
07
10
01
04
07
10
01
20 20 -
20 20 -
20 20 -
20 20 -
20 21 -
20 21 -
20 21 -
20 21 -
20 22 -
20 22 -
20 22 -
20 22 -
20 23 -
20 23 -
20 23 -
20 23 -
20 24 -
200
Spokane County Market Report | January 2024
Residential Closed Sales As of 2/1/2023. By month dating from January 2020 to January 2024. 1000 900 800 700 600 458 500 400 300 200
548
01
04
07
10
01
04
07
10
01
04
07
10
01
20 20 -
20 20 -
20 20 -
20 20 -
20 21 -
20 21 -
20 21 -
20 21 -
20 22 -
20 22 -
20 22 -
20 22 -
20 23 -
Closed Sales is the number of properties sold. 928
870
849 732 654
607
465
604 456
432
444
402
377 250
20 23 -0 20 4 23 -0 7 20 23 -1 0 20 24 -0 1
245
Sold Listings By Price Range Year-over-year comparison for the month of January.
2023
2024 61
34
59
54 56
40
51 43
50 38
31
36 36
$400K-$450K 13%
$450K-$500K 8%
$300K-$350K 15%
32
21
$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 January. Closed Sales is the number of properties sold. 500
458
465 433
450 400
368
350
307
300 245
250 200 2019
2020
2021
2022
2023
2024
Spokane County Market Report | January 2024
5
Annual Residential Closed Sales Year-to-date Re-Sale vs New Construction as of January. Closed Sales is the number of properties sold. 500 450 400 350 300 250 200 150 100 50 0
New
Re-Sa le
382
401
380
317
261
204
51
76
64
53
46
41
2019
2020
2021
2022
2023
2024
Annual Median Sales Price Year-to-date Re-Sale vs New Construction as of January. 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
$531
New
$479
$500K $450K
$390
$371
$400K
$327
$350K $300K
$365
$350
$300
$250
$225
$250K
$360
$450
$200K $150K 2019
2020
2021
2022
2023
2024
Median Price Per Square Foot As of 2/1/2024. 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 $266
$275
$249
$200
$192
$199
$266
$259
$260
$257
$254
$244
$250 $225
New $267
$206
$246
$236 $210
$207
$211
$207
$205
$203
$196
$242
$197 $184
$175 $150 Feb '23
Mar '23
Apr '23
May '23
June '23
July '23
Aug '23
Sep '23
Oct '23
Nov '23
De c '23
Jan '24
Spokane County Market Report | January 2024
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.