M a r k e t
R e p o r t
Monthly Market Report for Spokane County October 2023
county
Spokane 20 23
Average Sales Price
Current Listing Inventory
Median Days On Market
$426,103
1,096
20
Down 3.1% from prior month Down 3.6% from prior year
Down 5.7% from prior month Up 1.8% from prior year
Up 37.9% from prior month Up 33.3% from prior year
Median Sales Price
Residential Closed Sales
Annual Residential Closed Sales
$399,998
402
4,749
Down 2.4% from prior month Up 1.3% from prior year
Down 21.8% from prior month Down 21.5% from prior year
Down 19.1% from prior year
Information pulled on 11/01/2023 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 11/1/2023. By month dating from January 2019 to October 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 14 9
10
23
22 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
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 October. 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
$369
$350K $298 $300K $250K
$260 $235
$200K 2018
2 2
Spokane Spokane County County Market Market Report Report | December | October2022 2023
2019
2020
2021
2022
2023
Months Supply of Inventory As of 11/1/2023. By month dating from January 2019 to October 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
3 2.7 2.7 2.3 2.3 2.3 2.3 2.12.1 2.4 2 1.91.9 2 2 2.1 1.81.81.7 1.71.61.8 1.7 1.7 1.7 1.5 1.8 1.31.41.21.4 1.31.21.21.31.3 1.3 1.5 1.1 0.9 1.2 0.80.70.70.7 0.80.8 0.8 0.9 0.60.5 0.5 0.60.6 0.6 0.50.60.50.7 0.4 0.3 0.40.40.40.40.4 0.6 0.3 0
Sale-to-List Price Ratio As of 11/1/2023. By month dating from January 2019 to October 2023. Sale-to-List Price Ratio is the average of sales price divided by the final list price expressed as a percentage.
101.2% 99.8%
99.8% 99.1%
07
20 23 -
04
20 23 -
01
20 23 -
10
20 23 -
20 22 -
07
98.7%
10
99.4%
20 22 -
04
20 22 -
01
20 22 -
10
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, October 26, 2023. 8.00%
7.79%
7.75% 7.50% 7.25%
7.18%
7.08%
7.00%
6.79%
6.75%
6.49%
6.50%
6.50%
6.42%
6.32%
6.71%
7.31%
6.81%
6.43%
6.13%
6.25% 6.00% Oct '22
3
Nov '22
De c '22
Spokane County Market Report | October 2023
Jan '23
Feb '23
Mar '23
Apr '23
May '23 June '23 July '23
Aug '23
Sep '23
Oct '23
Active Residential Listings As of 11/1/2023. By month dating from January 2019 to October 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
566 412
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
224
10
01
1,014
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 11/1/2023.
2022
121
113116
2023
152 135 125133 144129
186 165
227 201
25 20
78
74
0-$150K 4%
$1M+ 9%
$150-200K 1%
200K-$250K 3% $250K-300K 6%
119
103
81 41 50
$800K-$1M 8%
$300K-$350K 9%
$600K-$800K 17%
45 47
$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 9%
New Residential Listings As of 11/1/2023. By month dating from January 2019 to October 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
643 517
483
400
4
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
Spokane County Market Report | October 2023
20 20 -
10
20 20 -
07
20 19 -
04
20 19 -
20 19 -
20 19 -
01
200
Residential Closed Sales As of 11/1/2023. By month dating from January 2019 to October 2023. Closed Sales is the number of properties sold. 860
928
851
870
849 732 654
574
607
548 465
458
604 456
432
444 377
402
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 October.
2023
63
51
50
34 16 19
58 42
51
21
61
20 18 21
10 9
$500K-$600K 10%
41 9
$300K-$350K 13% $250K-300K 10% 200K-$250K 4%
+
64
$450K-$500K 9%
84
80 81
79 59
$400K-$450K 17%
$350K-$400K 17%
$1 M
2022
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
$150-200K 2%
0-$150K 4%
$600K-$800K 8% $800K-$1M 4%
Annual Residential Closed Sales Year-to-date as of October. Closed Sales is the number of properties sold. 7000
7083 6669
6786
6910
6500 5873
6000 5500 5000
4749
4500 2018
2019
2020
2021
2022
2023
Spokane County Market Report | October 2023
5
Annual Residential Closed Sales Year-to-date Re-Sale vs New Construction as of October. Closed Sales is the number of properties sold. New
7000
Re-Sa le
6000 5000 4000
6372
6057
5902
5929
5189
3000
4051
2000 1000 711
740
884
853
684
698
2018
2019
2020
2021
2022
2023
0
Annual Median Sales Price Year-to-date Re-Sale vs New Construction as of October. 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
$472
$441
$450K
$405
$400K
$335
$350K
$360
$350
$395
$358
$285
$300K
$250
$225
$250K $200K $150K
2018
2019
2020
2021
2022
2023
Median Price Per Square Foot As of 11/1/2023. 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
$275
$256
$256
New $266
$266 $250
$241
$250 $225 $200
$193
$182
$181
De c '22
Jan '23
$190
$266
$256
$197
$203
Mar '23
Apr '23
$209
$205
$209
June '23
July '23
$261
$258
$255
$243 $203
$202
Aug '23
Sep '23
$194
$175 $150 Nov '22
Feb '23
May '23
Oct '23
Spokane County Market Report | October 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.