March 2022
In March 2022, Spokane home prices were up 26.3% compared to last year, selling for a median price of $429,995. On average, homes in Spokane sell after 14 days on the market, down 21.4% from last year in March. There were 527 homes sold in March this year, down from 567 last year.
Average Sales Price
Current Listing Inventory
Average Days On Market
$455,075
268
14
Up 21.2%
Up 64.4%
Down 21.4%
Median Sales Price
Residential Closed Sales
Annual Residential Sales
$429,995
527
1,312
Up 26.3%
Down 7.1%
Down 10.5%
March 2022, as compared to March 2021. Information pulled on 04/01/2022 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.
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Spokane County Market Report | March 2022
Average Days On Market For the month of March 2022, month/year comparison 80
2018
70
2019
2020
2021
2022
60 50 40 30 20
17
17
14
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 March $433 $400K
$358
$300K $200K
$175
$183
$198
$212
$170
2013
2014
2015
2016
2017
$263
$263
2018
2019
$294
$100K $0K 2020
2021
2022
Monthly Mortgage Rates Monthly 30-year fixed mortgage rates 5.00%
4.67%
4.50% 3.89%
4.00% 3.55% 3.50%
3.18% 2.98%
3.00%
2.95%
2.98%
2.80%
2.87%
3.01%
3.14%
3.10%
3.11%
Oct '21
Nov '21
De c '21
2.50% Mar '21
Apr '21
May '21 June '21 July '21
Aug '21
Sep '21
Jan '22
Feb '22
Mar '22
Spokane County Market Report | March 2022
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Active Residential Listings As of 4/1/2022, month/year comparison
2018
2019
2020
2021
2022
2000 1500 1000 500
173
268
161
0 January
February
March
April
May
June
July
August
September Octobe r November De cember
Active Listings By Price Range As of 4/1/2022
80
2021
2022
65
$1M+ 12%
61
60
45
40 20
25 14
24 16
16 13
30
29 18
16
19
5
16
15
27
28
$800K-$1M 10%
22
10
$350K-$400K 8%
$600K-$800K 16%
$400K-$450K 8%
+ $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
Spokane County Market Report | March 2022
200K-$250K 4%
25
0
4
$150-200K 1%
$250K-300K 5% $300K-$350K 5%
38
33
0-$150K 7%
$500K-$600K 17%
$450K-$500K 7%
Residential Closed Sales For the month of of March 2022, month/year comparison
2018
1000
2019
2020
2021
2022
750 527 500
397
328
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 March
120
107
107
90
72 47 25
30
34 16
$400K-$450K 14%
2022
$450K-$500K 13%
$350K-$400K 13%
88
86
77
77
59
58
60
2021
103
$500K-$600K 15%
68 55
41
24
47 16
10
25 13
7
$300K-$350K 12%
+
$250K-300K 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
0
$600K-$800K 11% 200K-$250K $150-200K 4% 2%
0-$150K 3%
$800K-$1M 4%
Annual Residential Sales Year-to-date as of March
1200
1487
1474
1600
951
961
2013
2014
1170
1187
2015
2016
1281
1466 1312
1230
800 400 0 2017
2018
2019
2020
2021
2022
Spokane County Market Report | March 2022
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Annual Residential Sales Year-to-date Re-Sale vs New Construction as of March
New
Re-Sa le
1500 1200 900 600
1031
1023
1114
1299
1232
1214
1131
1076
802
836
149
125
139
164
167
175
154
255
252
182
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
300 0
Annual Average Sales Price Year-to-date Re-Sale vs New Construction as of March
$600K
Re-Sa le
$549
New $427
$450K
$156
$276
$270
$249
$300K
$218
$199
$186
$170
$161
$337
$303
$273
$377
$367
$415
$344
$279
$247
$150K $0K 2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
Average Price Per Square Foot Monthly Re-Sale vs New Construction comparison
$300
Re-Sa le
$260
$180
$227
$213
$220 $177
$188
New $232
$216 $199
$195
$230
$228 $197
$193
Aug '21
Sep '21
$196
$261
$250
$240 $189
$197
Nov '21
De c '21
$193
$253
$248
$243 $202
$207
$140 $100 Apr '21
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May '21
June '21
Spokane County Market Report | March 2022
July '21
Oct '21
Jan '22
Feb '22
Mar '22
Annual New Construction Sales Year-to-date as of March
275 252 250 225 200
182
175 151 150 125 100
111 90
94
2017
2018
75 50 25 0 2019
2020
2021
2022
Comparison New Construction Sales YTD year-over-year comparison as of March
2021
120
2022
112
110 100 85
90 80 70
58
60
47
50 40 30
38
34 24
20
19
10 0 West Pla ins
Spokane South
Spokane Valley
Spokane North
Spokane County Market Report | March 2022
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