July 2021
Demand continues to outstrip supply, raising home prices at record-setting pace. Average Sales Price
Current Listing Inventory
Average Days On Market
$419,566
418
6
Up 27.3%
Down 15.9%
Down 64.7%
Median Sales Price
Residential Closed Sales
Annual Residential Sales
$399,000
732
4,437
Up 32.3%
Down 14.9%
Up 4.7%
July 2021, as compared to July 2020. Information pulled on 08/01/2021 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.
2
Spokane County Market Report | July 2021
Average Days On Market For the month of July 2021, month/year comparison 80
2017
2018
2019
2020
2021
70 60 50 40 30 20
17
13
10
7
10
7
6
6
0 January
February
March
April
May
June
July
August
September Octobe r November De cember
Annual Average Sales Price Year-to-date as of July
$392
$400K $320K $240K
$173
$182
$183
$196
2012
2013
2014
2015
$211
$226
2016
2017
$253
$307
$280
$160K $80K $0K 2018
2019
2020
2021
Monthly Mortgage Rates Monthly 30-year fixed mortgage rates
3.90% 3.70% 3.50% 3.18%
3.30% 3.10%
2.99%
2.91%
2.90%
2.88%
2.98%
2.97% 2.81%
2.71%
2.67%
Nov '20
De c '20
2.70%
2.95%
2.98% 2.80%
2.73%
2.50% July '20
Aug '20
Sep '20
Oct '20
Jan '21
Feb '21
Mar '21
Apr '21
May '21 June '21 July '21
Spokane County Market Report | July 2021
3
Active Residential Listings As of 8/1/2021, month/year comparison
2017
2018
2019
2020
2021
2000 1500 1000 500
163
418
265
236
229
163
136
0 January
February
March
April
May
June
July
August
September Octobe r November De cember
Active Listings By Price Range As of 8/1/2021
200
2020
2021
$800K-$1M 5%
160 120 80 40
88
84 65 60
46 29 12
27
18
29
80 64
43
74 56
61
76 71
75
$600K-$800K 15%
89
31 32
41
Spokane County Market Report | July 2021
+
$150-200K 3%
200K-$250K 5% $250K-300K 10% $300K-$350K 7%
56 $350K-$400K 11%
$500K-$600K 12%
$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
0
4
$1M+ 0-$150K 2% 10%
$450K-$500K 10%
$400K-$450K 10%
Residential Closed Sales For the month of of July 2021, month/year comparison
2017
1000
2018
2019
2020
2021
732 750 567 442
500
717
636
558
424
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 July 202
200
171
160
129 127 128
120 80 40
2020
157
89
75
61 14
124 80
62
$400K-$450K 14%
$350K-$400K 14%
2021
$450K-$500K 10%
$500K-$600K 12%
111 90 68
88 59
52 33
25
13
7
16
$300K-$350K 14% $600K-$800K 10%
+
$250K-300K 10%
$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
0
200K-$250K $150-200K 0-$150K 7% 3% 1%
$800K-$1M 3%
Annual Residential Sales Year-to-date as of July
5000
4355
4200 3400 2600
3110
3187
2013
2014
3912
4032
2015
2016
4672 4105
4237
2019
2020
4437
2492
1800 1000 2012
2017
2018
2021
Spokane County Market Report | July 2021
5
Annual Residential Sales Year-to-date Re-Sale vs New Construction as of July
4800
New
Re-Sa le
4000 3200 2400 1600
3524
3571
3959
4190
3639
3664
3849
2709
2839
246
401
348
388
461
396
482
466
573
588
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2246
800 0
Annual Average Sales Price Year-to-date Re-Sale vs New Construction as of July
$500K
Re-Sa le
New
$448
$400K $300K $200K
$165
$172
$216
$201
$186
$172
$290
$279
$267
$248
$242
$372
$347
$318
$383
$296
$269
$242
$379
$100K $0K 2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Average Price Per Square Foot Monthly Re-Sale vs New Construction comparison
Re-Sa le $220 $189
$181
$194
$189
$180 $155
$155
Aug '20
Sep '20
$155
$152
$154
Nov '20
De c '20
$189 $157
$165
$172
$216
$213
$210
$206
$195
$232
$227
New
$177
$188
$199
$195
$140
$100
6
Oct '20
Spokane County Market Report | July 2021
Jan '21
Feb '21
Mar '21
Apr '21
May '21
June '21
July '21
Annual New Construction Sales Year-to-date as of July
588
573 550 482 475
461
466
396
400
325
250
175
100 2016
2017
2018
2019
2020
2021
Comparison New Construction Sales YTD year-over-year comparison as of July
2020
280
2021
273 244
240 200 168 160 120 80
111
106 75
69
58
40 0 West Pla ins
Spokane South
Spokane Valley
Spokane North
Spokane County Market Report | July 2021
7