May 2021
Fierce competition and record low inventory continues the rise of home prices. Average Sales Price
Current Listing Inventory
Average Days On Market
$403,961
236
7
Up 30.6%
Down 60.5%
Down 41.7%
Median Sales Price
Residential Closed Sales
Annual Residential Sales
$375,000
636
2,767
Up 29.4%
Up 23.3%
Up 8.1%
May 2021, as compared to May 2020. Information pulled on 06/01/2021 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 | May 2021
Average Days On Market For the month of May 2021, month/year comparison 80
2017
2018
2019
2020
2021
70 60 50 40 30 20
17
13
10
7
10
7
0 January
February
March
April
May
June
July
August
September Octobe r November De cember
Annual Average Sales Price Year-to-date as of May $377 $350K $280K $210K
$166
$176
$179
$187
2012
2013
2014
2015
$206
$219
2016
2017
$246
$299
$272
$140K $70K $0K 2018
2019
2020
2021
Monthly Mortgage Rates Monthly 30-year fixed mortgage rates
3.90% 3.70% 3.50% 3.30% 3.10%
3.23%
3.18%
3.15% 2.99%
2.91%
2.90%
2.88%
2.97% 2.81%
2.71%
2.67%
Nov '20
De c '20
2.70%
2.98%
2.95%
Apr '21
May '21
2.73%
2.50% May '20 June '20 July '20
Aug '20
Sep '20
Oct '20
Jan '21
Feb '21
Mar '21
Spokane County Market Report | May 2021
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Active Residential Listings As of 6/1/2021, month/year comparison
2017
2018
2019
2020
2021
2000 1500 1000 500
163
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 6/1/2021
2020
160
119
107
120 87
75
80
0-$150K 4%
150
2021
84
86
77
$600K+ 36%
56 38
40
38 12
32 15
17
26
34
22
24
$300K-$350K 8%
28
$350K-$400K 10%
Spokane County Market Report | May 2021
$6 00 K+
$1 50 -2 00 K 20 0K -$ 25 0K $2 50 K30 0K $3 00 K$3 50 K $3 50 K$4 00 K $4 00 K$4 50 K $4 50 K$5 00 K $5 00 K$6 00 K
0$1 50 K
0
4
$150-200K 5% 200K-$250K 5% $250K-300K 10%
$500K-$600K 8% $450K-$500K 7%
$400K-$450K 7%
Residential Closed Sales For the month of of May 2021, month/year comparison
2017
1000
2018
750 567 442
500
2019
2020
2021
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 May
150
2020
124
125
108 95 92
100 75
57
90
83
87
76
66
26
25
$450K-$500K 9%
$500K-$600K 11%
$300K-$350K 14%
49
42
50
$400K-$450K 11%
103 75
60
$350K-$400K 12%
2021
26
25
8
30
26 4
2
8 $250K-300K 13%
$600K-$800K 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
200K-$250K 8%
$150-200K0-$150K 4% 1%
$800K-$1M 4%
Annual Residential Sales Year-to-date as of May
3000 2500 2000
1988
1959
2013
2014
2380
2478
2588
2015
2016
2017
2850 2491
2560
2019
2020
2767
1598
1500 1000 500 0 2012
2018
2021
Spokane County Market Report | May 2021
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Annual Residential Sales Year-to-date Re-Sale vs New Construction as of May
New
3000
Re-Sa le
2500 2000 1500 1000
2137
2162
2323
2539
2179
2184
2358
1699
1719
172
289
240
243
316
265
311
312
376
412
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
1426
500 0
Annual Average Sales Price Year-to-date Re-Sale vs New Construction as of May $500K
Re-Sa le
$439
New
$400K $300K $200K
$159
$209
$194
$177
$166
$164
$283
$278
$268
$247
$231
$372
$350
$312
$366
$286
$258
$233
$374
$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
$227
New
$220 $178
$180 $145
$149
$206
$195
$189
$189
$181 $155
$155
Aug '20
Sep '20
$155
$194
$189 $152
$154
Nov '20
De c '20
$213
$210
$189 $157
$165
$172
$177
$188
$140
$100 June '20
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July '20
Spokane County Market Report | May 2021
Oct '20
Jan '21
Feb '21
Mar '21
Apr '21
May '21
Annual New Construction Sales Year-to-date as of May
450
412 376
375 316 300
311
312
2018
2019
265
225
150
75
0 2016
2017
2020
2021
Comparison New Construction Sales YTD year-over-year comparison as of May
2020
2021
200 168
175
150
104 100 79
73 54
51
50
50
0 West Pla ins
Spokane South
Spokane Valley
Spokane North
Spokane County Market Report | May 2021
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