M a r k e t
R e p o r t
Monthly Market Report for Spokane County November 2023
county
Spokane 20 23
Average Sales Price
Current Listing Inventory
Median Days On Market
$427,185
994
20
Up 1.0% from prior month Down 2.2% from prior year
Down 11.3% from prior month Up 11.9% from prior year
Up 5.3% from prior month Down 4.8% from prior year
Median Sales Price
Residential Closed Sales
Annual Residential Closed Sales
$408,000
341
5,140
Up 2.3% from prior month Up 3.3% from prior year
Down 23.4% from prior month Down 20.5% from prior year
Down 18.4% from prior year
Information pulled on 12/01/2023 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.
Median Days On Market As of 12/1/2023. By month dating from January 2019 to November 2023. Days on Market is the median number of days between when a property is listed and the contract date. 50 40 28
30 20
31 24
19 17 18 20
23
23
22 14 9
10
12
15
17 12 5 4 6 5 4 5 5 5 6 6 5 4
3 4 4 4 4
5 5 5 7
8 7
4 4 4 4 5
6
10
14
20 20
17 16 9
7 6 7 8
12
14 15
10
07
20 23 -
04
20 23 -
01
20 23 -
10
20 23 -
07
20 22 -
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 -
20 19 -
20 19 -
01
0
Annual Median Sales Price Year-to-date as of November. Median Sales Price is the mid-point (median) value where the price for half of the closed sales is higher and half is lower. $450K
$420
$400K
$410
$370
$350K $300 $300K $250K
$260 $235
$200K 2018
2 2
2019
Spokane Spokane County County Market Market Report Report | December | November 20222023
2020
2021
2022
2023
Months Supply of Inventory As of 12/1/2023. By month dating from January 2019 to November 2023. Months Supply of Inventory is the number of months it would take to sell the available inventory at the current rate.
10
07
20 23 -
04
20 23 -
01
20 23 -
10
20 23 -
07
20 22 -
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 -
20 19 -
20 19 -
01
2.9 3.2 2.7 2.8 2.3 2.3 2.3 2.3 2.12.1 2.4 2 1.91.9 2 2 1.81.81.7 1.8 1.71.6 1.7 1.7 1.7 2 1.5 1.31.41.21.4 1.31.21.21.31.3 1.3 1.6 1.1 0.9 1.2 0.80.70.70.7 0.80.8 0.8 0.60.5 0.5 0.60.6 0.6 0.50.60.50.7 0.8 0.4 0.3 0.40.40.40.40.4 0.4 0
Sale-to-List Price Ratio As of 12/1/2023. By month dating from January 2019 to November 2023. Sale-to-List Price Ratio is the average of sales price divided by the final list price expressed as a percentage.
99.8%
98.7% 99.1%
07
10
99.8%
99.4%
20 23 -
04
20 23 -
01
20 23 -
10
20 23 -
07
98.7%
20 22 -
04
101.2%
20 22 -
01
20 22 -
10
20 22 -
20 21 -
07
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 -
20 19 -
01
105.4% 105.3% 106.0% 105.0% 105.0% 104.0% 103.0% 103.0% 101.2% 101.7% 101.4% 101.3% 101.3% 101.5% 102.0% 101.2% 100.3% 101.0% 99.6% 99.4% 100.0% 99.0% 98.0%
Monthly Mortgage Rates Monthly 30-year fixed mortgage rates highlighting the week ending Thursday, November 30, 2023. 8.00%
7.79%
7.75% 7.50%
7.18%
7.25% 7.00% 6.75%
6.79% 6.49%
6.50%
6.50%
6.42%
6.32%
6.71%
7.31%
7.22%
6.81%
6.43%
6.13%
6.25% 6.00% Nov '22
3
De c '22
Jan '23
Spokane County Market Report | November 2023
Feb '23
Mar '23
Apr '23
May '23 June '23 July '23
Aug '23
Sep '23
Oct '23
Nov '23
Active Residential Listings As of 21/1/2023. By month dating from January 2019 to November 2023. Active Inventory is the number of properties for sales at the end of the month, based on the contract date. 1437 1053
1008 677
658
412
10
07
20 23 -
04
20 23 -
01
20 23 -
10
20 23 -
07
01
04
20 22 -
20 21 -
20 21 -
20 22 -
04
1096 994
224
10
01
1,014 566
563
20 22 -
276
07
225
20 21 -
10
500
20 21 -
07
20 20 -
04
521
20 20 -
01
709
20 20 -
10
20 20 -
07
20 19 -
20 19 -
04
583
1048
20 22 -
1090
20 19 -
20 19 -
01
1600 1400 1200 1000 838 800 600 400 200 0
Active Listings By Price Range As of 12/1/2023.
2022
96 36
48 20 21
73
2023
148 125 114128
93 88
$800K-$1M 7%
203 132 112
170 158 152 89
0-$150K 4%
$1M+ 9%
$150-200K 2%
200K-$250K 3% $250K-300K 6%
$600K-$800K 17%
106
$300K-$350K 7%
60
58
35 42
$350K-$400K 10% $400K-$450K 10%
$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
270 240 210 180 150 120 90 60 30 0
$450K-$500K 11%
New Residential Listings As of 12/1/2023. By month dating from January 2019 to November 2023. New Listings is the number of properties listed regardless of current status. 1200 976
1000
1055
1001 819
800
805 638
614
1001
981 861
789
782
748
686
798
658 509
600
643 560
517
483
400
4
Spokane County Market Report | November 2023
10
07
20 23 -
04
20 23 -
01
20 23 -
10
20 23 -
07
20 22 -
04
20 22 -
01
20 22 -
10
20 22 -
20 21 -
07
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 -
20 19 -
20 19 -
01
200
Residential Closed Sales As of 12/1/2023. By month dating from January 2019 to November 2023. Closed Sales is the number of properties sold. 860
928
851
870
849 732 654
574
607
548 465
458
604 456
432
444
402 341
377
01 20 23 20 -04 23 -0 7 20 23 -1 0
10
20 23 -
07
20 22 -
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 -
20 19 -
04
250
20 19 -
20 19 -
01
1000 900 800 700 600 500 368 400 300 200
Sold Listings By Price Range Year-over-year comparison for the month of November.
2022
2023
$350K-$400K 10%
$400K-$450K 14%
$450K-$500K 9% $500K-$600K 15%
61 50 37 25
61 58 43
53 39 37
41 45 24
20
13 15 11
$300K-$350K 12% $600K-$800K 11%
$250K-300K 9% +
5
13
52
63
$1 M
13
40
64
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
140 120 100 80 60 40 20 0
200K-$250K 5%
$150-200K 3%
0-$150K 6%
$800K-$1M 3%
Annual Residential Closed Sales Year-to-date as of November. Closed Sales is the number of properties sold. 8000
7746 7296
7500
7508
7623
7000 6302
6500 6000 5500
5140
5000 2018
2019
2020
2021
2022
2023
Spokane County Market Report | November 2023
5
Annual Residential Closed Sales Year-to-date Re-Sale vs New Construction as of November. Closed Sales is the number of properties sold. New
8000
Re-Sa le
7000 6000 5000 6964
4000
6713
6510
6469
5553
3000
4383
2000 1000
782
827
998
910
749
757
2018
2019
2020
2021
2022
2023
0
Annual Median Sales Price Year-to-date Re-Sale vs New Construction as of November. Sales Price is the mid-point (median) value where the price for half of the closed sales is higher and half is lower. $550K
Re-Sa le
New
$500
$500K
$473
$443
$450K
$400
$400K
$335
$350K
$361
$349
$392
$360
$285
$300K
$250
$225
$250K $200K $150K
2018
2019
2020
2021
2022
2023
Median Price Per Square Foot As of 12/1/2023. Monthly Re-Sale vs New Construction comparison. Price per Square Foot is the mid-point (median) PPSF of all closed listings. $300 $275
Re-Sa le $266
$256
New $266 $250
$241
$250 $225 $200
$182
$181
De c '22
Jan '23
$190
$266
$256
$197
$203
Mar '23
Apr '23
$259
$255
$243
$254 $236
$209
$205
$209
June '23
July '23
$203
$202
Aug '23
Sep '23
$194
$201
$175 $150 Feb '23
May '23
Oct '23
Nov '23
Spokane County Market Report | November 2023
6
cbspokane.com 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. ©Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. Not intended as a solicitation if your property is already listed by another broker. Information deemed reliable but not guaranteed and should be independently verified.