May 2022
In May 2022, Spokane home prices were up 20.0% compared to last year, selling for a median price of $450,000. On median, homes in Spokane sell after 4 days on the market, up 25% change from last year in May. There were 599 homes sold in May this year, down from 713 last year.
Average Sales Price
Current Listing Inventory
Median Days On Market
$483,201
449
5
Up 4.9% from prior month Up 18.4% from prior year
Up 22.3% from prior month Up 73.3% from prior year
Up 25.0% from prior month Up 25.0% from prior year
Median Sales Price
Residential Closed Sales
Annual Residential Closed Sales
$450,000
599
2,581
Up 5.9% from prior month Up 20.0% from prior year
Down 0.7% from prior month Down 16.0% from prior year
Down 10.3% from prior year
Information pulled on 06/01/2022 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 | May 2022
Median Days On Market As of 6/1/2022. By month dating from January 2018 to May 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
26 27
20 22
29 29
28
24
19 17 18 20
23 14 9
10
12
15
17 12
8 7 5 4 6 5 4 5 5 5 6 6 5 4 5 5 5 7 4 4 4 4 5 3 4 4 4 4
04
01
20 22 -
10
20 22 -
07
20 21 -
04
20 21 -
10
01
20 21 -
20 21 -
07
20 20 -
01
10
04
20 20 -
20 20 -
20 20 -
07
20 19 -
01
10
04
20 19 -
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 May. 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
$422
$400K
$347
$300K $201
$280
$250
$225
$200K $100K $0K 2017
2018
2019
2020
2021
2022
Monthly Mortgage Rates Monthly 30-year fixed mortgage rates highlighting the week ending Thursday, May 26, 2022.
5.50% 5.00%
5.10%
5.10%
Apr '22
May '22
4.67%
4.50% 3.89%
4.00%
3.55%
3.50% 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% May '21 June '21 July '21
Aug '21
Sep '21
Jan '22
Feb '22
Mar '22
Spokane County Market Report | May 2022
3
Active Residential Listings As of 6/1/2022. By month dating from January 2018 to May 2022. Active Inventory is the number of properties for sales at the end of the month, based on the contract date. 1437 1090
1053 677 500
494 404
04
01
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 -
04
225
20 18 -
563
276
20 22 -
521
10
709
583
20 22 -
838
20 21 -
1349
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 6/1/2022. 129
2021
125 100 75
52
50 25
90
81
12 18 15 8
17 13
32 31 26
200K-$250K 2% $250K-300K 4%
$150-200K 1%
$800K-$1M 10%
83
$300K-$350K 8%
65
59
48 34
0-$150K 3%
$1M+ 12%
2022
45
42
$350K-$400K 7%
32
28
24
22
$400K-$450K 9%
$600K-$800K 19% + $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 12%
$500K-$600K 13%
New Residential Listings As of 6/1/2022. By month dating from January 2018 to May 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
981
955 860
789
782
686 509
600
481
400
4
01
10
07
04
01
10
07
04 20 22 -
20 22 -
20 21 -
20 21 -
20 21 -
20 21 -
20 20 -
20 20 -
01
10
07
04
04 20 20 -
20 20 -
20 19 -
20 19 -
01
Spokane County Market Report | May 2022
20 19 -
07
04
10
20 19 -
20 18 -
20 18 -
20 18 -
20 18 -
01
200
Residential Closed Sales As of 6/1/2022. By month dating from January 2018 to May 2022. Closed Sales is the number of properties sold. 1000
928
911
860
900 800
500
849 732
697
700 600
870
851
599
654
620
574
603
548
472
465
458
432
368
400
04
01
20 22 -
07
10
20 22 -
20 21 -
01
04
20 21 -
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 May.
120
103
95
90 90
90 60 30
98
2021 109
8
16
14
$450K-$500K 14% $500K-$600K 15%
99
66
76
40
37 26
$400K-$450K 14%
2022
87
83
64
60
104
26
22
25
$350K-$400K 13%
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 14% $300K-$350K 9% $250K-300K 5%
200K-$250K $150-200K0-$150K 3% 2% 2%
$800K-$1M 6%
Annual Residential Closed Sales Year-to-date as of May. Closed Sales is the number of properties sold. 3000
2879
2878
2800 2607 2510
2600
2584
2581
2400 2200 2000 2017
2018
2019
2020
2021
2022
Spokane County Market Report | May 2022
5
Months Supply of Inventory Year-to-date as of May. 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
1.8 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 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
04
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 6/1/2022. By month dating from January 2018 to May 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% 104.6%
105.0% 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%
01
04 20 22 -
20 22 -
07
10 20 21 -
20 21 -
04 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 -
04
07 20 18 -
20 18 -
20 18 -
01
98.0%
Spokane County Market Report | May 2022
6
Annual Residential Closed Sales Year-to-date Re-Sale vs New Construction as of May. Closed Sales is the number of properties sold. 3600
New
Re-Sa le
3000 2400 1800
2567
2341
1200
2199
2205
2444
2236
600 0
266
312
311
379
434
345
2017
2018
2019
2020
2021
2022
Annual Median Sales Price Year-to-date Re-Sale vs New Construction as of May. 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
$493
New $420
$450K $375K
$348
$328 $291
$300K $225K
$190
$330
$267
$240
$215
$346
$402
$150K 2017
2018
2019
2020
2021
2022
Median Price Per Square Foot As of 6/1/2022. 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
$250
$232
$261
$243
$192
$190
$195
$247
$243
$231
$223
$219
$225 $200
$253
$244
$237
$273
$266
$275
$189
$193
$186
$192
$192
$203
$211
$219
$175 $150 June '21
7
July '21
Aug '21
Spokane County Market Report | May 2022
Sep '21
Oct '21
Nov '21
De c '21
Jan '22
Feb '22
Mar '22
Apr '22
May '22