July 2022
In July 2022, Spokane home prices were up 6.9% compared to last year, selling for a median price of $442,450. On median, homes in Spokane sell after 10 days on the market, up 100.0% change from last year in July. There were 542 homes sold in July this year, down from 849 last year.
Average Sales Price
Current Listing Inventory
Median Days On Market
$464,094
1,008
10
Down 3.3% from prior month Up 11.3% from prior year
Up 20.6% from prior month Up 101.6% from prior year
Up 66.7% from prior month Up 100.0% from prior year
Median Sales Price
Residential Closed Sales
Annual Residential Closed Sales
$422,450
542
3,953
Down 4.0% from prior month Up 6.9% from prior year
Down 27.6% from prior month Down 36.2% from prior year
Down 12.8% from prior year
Information pulled on 08/01/2022 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 2022
Median Days On Market As of 8/1/2022. By month dating from January 2018 to July 2022. Days on Market is the median number of days between when a property is listed and the contract date. 50
45
41
40
35
30
21 20
20
18
20 22
26 27
29 29
28
24
19 17 18 20
23 14 9
10
12
15
17 12
10 8 7 5 4 6 5 4 5 5 5 6 6 5 4 5 5 5 7 4 4 4 4 5 6 3 4 4 4 4
07
04
20 22 -
01
20 22 -
10
20 22 -
04
07
20 21 -
20 21 -
01
20 21 -
07
10
20 21 -
20 20 -
04
20 20 -
10
01
20 20 -
20 20 -
07
20 19 -
04
20 19 -
10
01
20 19 -
20 19 -
07
20 18 -
04
20 18 -
20 18 -
20 18 -
01
0
Annual Median Sales Price Year-to-date as of July. Median Sales Price is the mid-point (median) value where the price for half of the closed sales is higher and half is lower. $500K
$425 $360
$400K $300K $208
$285
$259
$231
$200K $100K $0K 2017
2018
2019
2020
2021
2022
Monthly Mortgage Rates Monthly 30-year fixed mortgage rates highlighting the week ending Thursday, July 28, 2022.
5.70%
6.00% 5.50%
5.10%
5.00%
5.10%
5.30%
4.67%
4.50% 3.89%
4.00%
3.55%
3.50% 3.00%
2.80%
2.87%
July '21
Aug '21
3.01%
3.14%
3.10%
3.11%
Sep '21
Oct '21
Nov '21
De c '21
2.50% Jan '22
Feb '22
Mar '22
Apr '22
May '22 June '22 July '22
Spokane County Market Report | July 2022
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Active Residential Listings As of 8/1/2022. By month dating from January 2018 to July 2022. Active Inventory is the number of properties for sales at the end of the month, based on the contract date. 1437
1349 1090
1053
1008 677 500
412
07
04
20 22 -
01
10
224
07
04
01
20 21 -
10
20 21 -
07
20 20 -
04
20 20 -
01
20 20 -
10
20 20 -
07
20 19 -
04
20 19 -
01
20 19 -
10
20 19 -
07
20 18 -
20 18 -
04
225
563
276
20 22 -
521
20 22 -
709
583
20 21 -
838
20 21 -
1457 1177
20 18 -
20 18 -
01
1600 1400 1200 915 1000 800 600 400 200 0
Active Listings By Price Range As of 8/1/2022. 246
2021
240
2022 183
200 133
108
120 60 65
80 40
137
134
160
12
31
18 23 29 27
43
64
200K-$250K 2% $250K-300K 5%
$150-200K 2%
$300K-$350K 9%
$600K-$800K 19%
99
92
89
71
61
56
$1M+ 0-$150K 2% 8%
$800K-$1M 7%
56 32
$350K-$400K 11% +
$400K-$450K 11%
$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
0 $450K-$500K 10%
New Residential Listings As of 8/1/2022. By month dating from January 2018 to July 2022. New Listings is the number of properties listed regardless of current status. 1200 961
1000
993
976
1055 819
800
800
648
1001 805 638
614
1001
981 861
789
782
686 509
600
483
400
4
Spokane County Market Report | July 2022
07
04
20 22 -
01
20 22 -
10
20 22 -
07
20 21 -
04
20 21 -
01
20 21 -
10
20 21 -
07
20 20 -
20 20 -
04
01
20 20 -
10
20 20 -
07
20 19 -
04
20 19 -
01
20 19 -
10
20 19 -
07
20 18 -
04
20 18 -
20 18 -
20 18 -
01
200
Residential Closed Sales As of 8/1/2022. By month dating from January 2018 to July 2022. Closed Sales is the number of properties sold. 1000
928
911
860
900 800
500
870
849 732
697
700 600
851
654
620
574
607
548
472
542 465
458
432
368
400
07
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 -
01
20 19 -
10
20 19 -
07
20 18 -
04
20 18 -
20 18 -
20 18 -
01
300
Sold Listings By Price Range Year-over-year comparison for the month of July.
150
2021
2022
129
128
120 90
62
60
90
83
73
88 66
98
$500K-$600K 11%
75
54
38 14
$450K-$500K 10%
$350K-$400K 16%
111
105 89
30
$400K-$450K 11%
124
33 35
25 8
16 19
18
$300K-$350K 12%
$600K-$800K 14%
+
$250K-300K 8% 200K-$250K $150-200K 3% 1%
$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 0-$150K 6%
$800K-$1M 5%
Annual Residential Closed Sales Year-to-date as of July. Closed Sales is the number of properties sold. 4800
4724 4532
4600 4400
4385 4295 4146
4200
3953
4000 3800 2017
2018
2019
2020
2021
2022
Spokane County Market Report | July 2022
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Months Supply of Inventory As of 8/1/2022. By month dating from January 2018 to July 2022. Months Supply of Inventory is the number of months it would take to sell the available inventory at the current rate. 2.4
2.3
2.3
2.1
2 1.9
1.9
2 1.9
1.9 1.9
1.8
1.8
1.9 1.8 1.8
1.7
1.7 1.6 1.6
1.6
1.5
1.5
1.4 1.3
1.4
1.3
1.3 1.2
1.3 1.3 1.2 1.2
1.2
1.1 0.9
0.9
0.8
0.8 0.8
0.8
0.7 0.7 0.7
0.7 0.6
0.6
0.6 0.6 0.5
0.6
0.6
0.5
0.5 0.4 0.4 0.4 0.4 0.4
0.5
0.4
0.3
0.3
07
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 -
01
20 19 -
10
20 19 -
07
20 18 -
04
20 18 -
20 18 -
20 18 -
01
0
Sale-to-List Price Ratio As of 8/1/2022. By month dating from January 2018 to July 2022. Sale-to-List Price Ratio is the average of sales price divided by the final list price expressed as a percentage. 108.0% 107.0% 106.0%
105.4%
105.3%
105.0%
105.0%
101.2%
104.0% 103.0%
103.0% 101.2%
102.0% 100.6%
101.0%
101.3%
101.0%
101.3%
101.4%
101.2%
100.3%
99.9% 99.6%
100.0% 99.4%
101.5% 101.7%
99.4%
99.0%
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Spokane County Market Report | July 2022
07
04
20 22 -
01
20 22 -
10
20 22 -
07
20 21 -
04
20 21 -
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 -
01
20 19 -
10
20 18 -
07
20 18 -
04
20 18 -
20 18 -
01
98.0%
Annual Residential Closed Sales Year-to-date Re-Sale vs New Construction as of July. Closed Sales is the number of properties sold. 5600
New
Re-Sa le
4800 4000 3200 2400
4241
3984
3681
3717
3931
3469
1600 800 401
483
465
578
601
484
2017
2018
2019
2020
2021
2022
0
Annual Median Sales Price Year-to-date Re-Sale vs New Construction as of July. Sales Price is the mid-point (median) value where the price for half of the closed sales is higher and half is lower. $525K
Re-Sa le
$500
New $430
$450K $375K $300K
$410
$350
$275
$248
$220
$199
$225K
$350
$326
$296
$356
$150K 2017
2018
2019
2020
2021
2022
Median Price Per Square Foot As of 8/1/2022. 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
New
$275
$253
$244
$250
$232
$243
$223
$195
$189
$193
$186
$192
$192
$203
$272
$265
$269
$246
$243
$231
$225 $200
$273
$266
$211
$218
$221
May '22
June '22
$221
$175 $150 Aug '21
Sep '21
Oct '21
Nov '21
De c '21
Jan '22
Feb '22
Mar '22
Apr '22
July '22
Spokane County Market Report | July 2022
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