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 Association Association of REALTORS® Spokane REALTORS® YEAR HOME SALES 2018END MONTHLY HOMEREPORT SALES REPORT FEBRUARY 2017
SALESSALES UP 19.9% UNIT UP 7% Closed sales of single family homes on less than one acre
Closed sales of single family homes on less than one acre including condos for February 2018 total 403 compared to including for 2017 totalwas 8,137 Februarycondos 2017 when the total 336.compared to 7,601 for 2016.
AVERAGE PRICE UP 12.6% AVERAGE PRICE UP 7.8% The average closed price for February 2018 was $231,497
The averagetoclosed price for when 2017 is $228,732 compared February 2017 the average compared price was to $212,189 for 2016. * $205,584.*
MEDIAN PRICE PRICE UP UP 13.3% MEDIAN 7.7% The median closed price for February 2018 was $210,200
The median closed price for 2017 is $210,000 compared to compared to February 2017 when the median price was $195,000 for 2016. * $185,000.* *NOTE: Does not represent home values. *NOTE: Does not represent home values.
INVENTORY INVENTORY DOWN
Inventory to February last year.2017. Current Inventoryisisdown down12.6% 15.5% compared compared to Current inventory propertieswhich which inventory,asasofofthis thisreport reporttotals totals1,010 924 properties represents representsaa1.6 2.3months months supply. supply. NOTE: NOTE:Months Monthssupply supplybased basedon onclosed closed sales sales for for December. February.
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.
December
1878
1491
1156
Spokane Residential Listings
1010
3500 3000 2500 2000
2014 283 288 384 439 February 551 2104 601 2093 626 1685 609 1094 504 924 562 455 507
2015 343 325 494 March554 2270 647 2162 766 755 2162 694 1268 657 591 437 597
2014 13% 14% 17% 17% February 20% 288 21% 325 21% 339 21% 335 19% 403 22% 20% 27%
2015 18% 23% March24% 384 27% 494 31% 495 30% 555 29% 29% 29% 23% 40%
January
February
March
April
May
June
13%
14%
17%
17%
20%
21%
23%
20%
23%
30%
34%
38%
36%
1500 January
1000 February 500 March April 0 May 2014 June 2015 July 2016 August 2017 September 2018 October November December
January 2098 1907 1543 1153 946
April 2523 2307 1934 1457
Spokane Residential Closed Sales
1000 900 800 700 600 500 400 January 300 February 200 100 March 0
April May 2014 June2015 July 2016 August 2017 September 2018 October November December
January 283 343 352 378 464
16% April 439 554 585 525
Spokane Odds of Selling
2016 352 339 495 585 May 7022745 7922423 7512044 8211686 781 665 608 2014 664
2017 378 335 555 525 June 770 2811 944 2466 806 2081 903 1871 743 803 20157052016 628
2016 23% 20% 23% 30%May 34%551 38%647 36%702 40%770 41% 39% 44%2014 57%
2017 32% 31% 43% 36% June 45% 601 50% 766 41% 792 45% 944 39% 47% 2015 2016 52% 63%
2018 464 403 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
July
August
September
October
November
December
21%
21%
19%
22%
20%
27%
40%
41%
39%
44%
57%
2017
2018
2018 49% 44%
2017
2018
70% 60% 50% 40% 30% 20% 10% 0%
2014 2015 2016 2017 2018
18% 32% 49%
16% 31% 44%
23% 43%
24% 36%
27% 45%
2014
31% 50%
2015
2016
30%
29%
41%
2017
45%
2018
29% 39%
29% 47%
23% 52%
40% 63%
December
187,324
195,690
209,646
2014 152,000 157,750 163,950 169,296 February 175,476 164,000 172,000 187,343 169,800 200,245 177,160 205,077 175,050 231,497 169,900 165,500 164,900
2015 160,000 173,000 169,900 170,000 March 182,040 175,000 183,500 182,738 190,000 204,562 185,000 220,984 183,000 180,000 176,500 176,000
2016 175,000 185,000 187,500 April 191,500May 182,945200,000 182,335 190,578196,975 192,400 205,801208,000 218,542 224,351199,900 227,530 201,000 198,000 192,7502014 191,215
Spokane Average Sales Price
233,302
250,000 200,000 150,000 100,000 January February 50,000 March 0 April January May2014 164,680 June2015 176,475 July 2016 191,266 August 2017 206,351 September 2018 224,091 October November December
Spokane Median Sales Price
2017 195,000 185,000 204,900 201,900 June 190,142 208,250 217,000 204,483 217,000 217,604 218,000 233,756 215,000 209,900 2015 2016 209,950 215,000
2018 208,500 210,200 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
250,000 200,000 150,000 100,000 50,000 0
January
February
March
April
May
June
July
August
September
October
November
December
2014
152,000
157,750
163,950
169,296
164,000
172,000
169,800
177,160
175,050
169,900
165,500
164,900
2015
160,000
173,000
169,900
170,000
175,000
183,500
190,000
185,000
183,000
180,000
176,500
176,000
2016
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
210,200 2014
2015
2016
2017
2018
Annual Appreciation/Depreciation 20% 15% 10% 5% 0% -5% -10%
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Percent 2.33% 1.36% 7.53% 7.59% 16.28% 16.67% 5.97% -0.76% -8.20% -3.30% -5.10% 3.30% 2.90% Percent
2014 2%
2015
2016
2017
7.10% 8.40% 7.70%
Annual Residential Listings and Closed Sales 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0
2009
2010
2011
2012
2013
2014
Listings
9,848
2001
10,242 10,588 10,856 11,879 13,675 15,559 12,833
2002
2003
9,782
9,919
8,701
8,507
9,642
9,954
10,303 10,594 11,150
Sold
5,898
6,243
4,664
4,249
4,020
4,533
5,510
5,820
6,863
7,571
8,137
2010
2011
2012
2013
2014
2015
2016
2017
7,218
2004 7,758
2005 8,373
2006 7,792
2007 6,935
2008 4,911 Listings
2015
2016
2017
Sold
Annual Average and Median Sales Price 250,000 200,000 150,000 100,000 50,000 0
2001
2002
2003
2004
2005
2006
2007
2008
2009
Average 121,920 127,973 132,273 147,006 172,413 197,384 211,872 206,291 187,585 183,483 167,665 177,272 182,682 186,275 197,593 212,144 228,732 Median 110,000 111,500 119,900 129,000 150,000 175,000 185,400 184,000 169,000 163,400 154,900 160,000 164,697 168,000 179,900 195,000 210,000 Average
Median
Annual Average Interest Rates for 30-Year Fixed Mortgage 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00%
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Percent 7.30% 7.17% 6.05% 5.88% 5.80% 6.28% 6.46% 5.50% 5.50% 4.69% 4.42% 3.63% 3.98% 3.87% 4.17% 4.16% 3.99% 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.