Spokane
COLDWELL BANKER TOMLINSON A B E T T E R W AY T O S E L L R E A L E S T A T E
MARKET TRENDS
Spokane SpokaneAssociation Associationof ofREALTORS® REALTORS® YEAR YEAREND ENDHOME HOMESALES SALESREPORT REPORT
2017 2017
UNIT UNIT SALES SALES UP UP 7% 7%
Closed Closedsales salesofofsingle singlefamily familyhomes homeson onless lessthan thanone oneacre acre including includingcondos condosfor for2017 2017total total8,137 8,137compared comparedtoto7,601 7,601for for 2016. 2016.
AVERAGE AVERAGE PRICE PRICE UP UP 7.8% 7.8%
The Theaverage averageclosed closedprice pricefor for2017 2017isis$228,732 $228,732compared comparedtoto $212,189 $212,189for for2016. 2016.**
MEDIAN MEDIAN PRICE PRICE UP UP 7.7% 7.7%
The Themedian medianclosed closedprice pricefor for2017 2017isis$210,000 $210,000compared comparedtoto $195,000 $195,000for for2016. 2016.** *NOTE: *NOTE:Does Doesnot notrepresent representhome homevalues. values.
INVENTORY INVENTORY DOWN DOWN
Inventory Inventoryisisdown down12.6% 12.6%compared comparedtotolast lastyear. year. Current Current inventory inventoryasasofofthis thisreport reporttotals totals1,010 1,010properties propertieswhich which represents representsaa1.6 1.6months monthssupply. supply. NOTE: NOTE:Months Monthssupply supplybased basedon onclosed closedsales salesfor forDecember. December. NOTE: Information comes from the SAR’s Monthly Activity Report which looks at single family residential/site built properties on less than one acre and condominiums.
November December
2236 1878
1866 1491
1390 1156
Spokane Residential Listings
1360 1010
3500 3000 2500 2000 1500
January 1000 February 500 March0 January April 2014 2098 May 2015 1907 June 2016 1543 July 2017 1153 August 2018 September 946 October November December
2014 283 288 384 February 439 2104 551 2093 601 1685 626 1094 609 504 562 455 507
2015 343 325 494 March 554 2270 647 2162 766 2162 755 1268 694 657 591 437 597
2014 13% 14% 17% February 17% 288 20% 325 21% 339 21% 335 21% 19% 22% 20% 27%
2015 18%
2016 352 339 495 May 585 2745 702 2423 792 7512044 8211686 781 6652014 608 664
2017 378 335 555 June 525 2811 770 2466 944 2081 806 1871 903 743 2015 8032016 705 628
2016 23% 20% 23% April 30%May 439 34% 551 554 38% 647 585 36% 702 525 40% 770 41% 39%2014 44% 57%
2017 32% 31% 43% June 36% 601 45% 766 50% 792 41% 944 45% 39% 201547%2016 52% 63%
April 2523 2307 1934 1457
Spokane Residential Closed Sales
1000 900 800 700 600 500 400 January 300 200 February 100 March0
January April 2014 283 May 343 June2015 2016 352 July 2017 378 August 2018 September 464 October November December
16%
23% 24% 384 27% 494 31% 49530% 55529% 29% 29% 23% 40%
March
Spokane Odds of Selling
2018 464 July
August
September
October
November
December
2918
2835
2712
2501
2236
1878
2493
2400
2293
2073
1866
1491
2114
2035
1898
1709
1390
1156
1977
2014
1918
1709
1360
1010
July
August
September
October
November
December
626
609
504
562
455
507
755
694
657
591
437
597
751
821
781
665
608
664
806
903
743
803
705
628
2017
2018
2018 49%
2017
2018
0.7 0.6 0.5 0.4 0.3 0.2 0.1 0 2014 2015 2016 2017 2018
January
February
March
April
May
June
July
August
September
October
November
December
13%
14%
17%
17%
20%
21%
21%
21%
19%
22%
20%
27%
23%
20%
23%
30%
34%
38%
36%
40%
41%
39%
44%
57%
18% 32% 49%
16% 31%
23% 43%
24% 36%
27%
31%
45%
2014
50%
2015
2016
30%
29%
41%
2017
45%
2018
29% 39%
29% 47%
23% 52%
40% 63%
November December
183,029 187,324
201,817 195,690
206,837 209,646
2015 160,000 173,000 169,900 March 170,000 182,040 175,000 182,738 183,500 204,562 190,000 220,984 185,000 183,000 180,000 176,500 176,000
2016 175,000 185,000 187,500 April May 191,500 182,945 182,335 200,000 190,578 192,400 196,975 205,801 218,542 208,000 224,351 227,530 199,900 201,000 198,0002014 192,750 191,215
Spokane Average Sales Price
231,512 233,302
250000 200000 150000 100000
January 50000 February March 0 January April 2014 164,680 May 2015 176,475 June 2016 191,266 July 2017 206,351 August 2018 224,091 September October November December
2014 152,000 157,750 163,950 February 169,296 175,476 164,000 187,343 172,000 200,245 169,800 205,077 177,160 175,050 169,900 165,500 164,900
Spokane Median Sales Price
2017 195,000 185,000 204,900 June 201,900 190,142 208,250 204,483 217,000 217,604 217,000 233,756 218,000 215,000 209,900 2015 2016 209,950 215,000
2018 208,500 July
August
September
October
November
December
186,795
198,140
192,109
191,360
183,029
187,324
211,837
203,532
200,220
201,766
201,817
195,690
222,321
215,382
215,557
216,344
206,837
209,646
235,241
234,671
236,325
227,733
231,512
233,302
2017
2018
250,000 200,000 150,000
Percent
100,000
2014 50,000 2015 2016 0 2017
January
2% 7.10% 8.40% February 7.70%
March
April
May
June
July
August
September
October
November
December
157,750
163,950
169,296
164,000
172,000
169,800
177,160
175,050
169,900
165,500
164,900
160,000
173,000
169,900
170,000
175,000
183,500
190,000
185,000
183,000
180,000
176,500
176,000
175,000
185,000
187,500
191,500
200,000
196,975
208,000
199,900
201,000
198,000
192,750
191,215
2017
195,000
185,000
204,900
201,900
208,250
217,000
217,000
218,000
215,000
209,900
209,950
215,000
2018
208,500
2014
152,000
2015 2016
2014
2015
2016
2017
2018
Annual Appreciation/Depreciation 9% 8% 7% 6% 5% 4% 3% 2% 1% 0% Percent
2014
2015
2016
2017
2%
7.10%
8.40%
7.70%
Percent
Annual Residential Listings and Closed Sales 12000 10000 8000
2014 2015 6000 2016 4000 2017
Average Median 186,275 168,000 197,593 179,900 212,144 195,000 228,732 210,000
2000 0
2014
2015
2016
2017
Listings
9,954
10,303
10,594
11,150
Sold
5,820
6,863
7,571
8,137
Listings
Sold
Annual Average and Median Sales Price 250000 200000 150000
2014 100000 2015 2016 2017 50000 0
Percent 3.87% 4.17% 4.16%
2014
2015
2016
2017
Average
186,275
197,593
212,144
228,732
Median
168,000
179,900
195,000
210,000
2017
Average
Median
Annual Average Interest Rates for 30-Year Fixed Mortgage 4.20% 4.15% 4.10% 4.05% 4.00% 3.95% 3.90% 3.85% 3.80% 3.75% 3.70% Percent
2014
2015
2016
3.87%
4.17%
4.16% Percent
Š2016 Coldwell Banker Tomlinson. All rights reserved. Each office is independently owned and operated. If you currently have an Agent assisting you with the purchase or sale of property, this is not a solicitation for business. Information provided bu the Spokane Association of RealtorsŽ and Federal Reserve. Information deemed reliable but not guaranteed.