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 of REALTORS® Spokane of REALTORS® YEAR ENDAssociation HOME SALES REPORT 2018 MONTHLY HOME SALES REPORT 2017 MARCH
UNIT UP 7% SALESSALES UP 7.3%
Closed of single singlefamily familyhomes homes less than Closed sales sales of onon less than oneone acreacre including forMarch 2017 total compared toto7,601 for including condos condos for 2018 8,137 total 602 compared 2016. March 2017 when the total was 561.
AVERAGE PRICEUP UP7.7% 7.8% AVERAGE PRICE
The closedprice pricefor forMarch 2017 2018 is $228,732 compared to Theaverage average closed was $237,544 compared $212,189 2016. to March for 2017 when*the average price was $220,466.*
MEDIAN PRICE UP 7% MEDIAN PRICE UP 7.7% The median closed price for March 2018 was $219,000 compared The median closed for 2017 is $210,000 compared to to March 2017 whenprice the median price was $204,700.* *NOTE: Does for not represent $195,000 2016. home * values. *NOTE: Does not represent home values.
INVENTORY DOWN
INVENTORY DOWN Inventory is down 19.7% compared to March 2017. Current
Inventory last year.which Current inventory,isasdown of this12.6% reportcompared totals 1,018toproperties representsasa of 1.7this months supply. inventory report totals 1,010 properties which NOTE: Months supply on closed sales for March. represents a 1.6based months supply. NOTE: Months supply based on closed sales for December.
DISTRESSED SALES DOWN
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
2014 283 288 384 February 439 2 104 551 2 093 601 1685 626 1094 609 924 504 562 455 507
2015 343 325 494 March 554 2270 647 2 162 766 2 162 755 1268 694 1018 657 591 437 597
2014 13% 14% 17% February 17% 220% 88 325 21% 339 21% 335 21% 19% 403 22% 20% 27%
2015 18%
1156
Spokane Residential Listings
1010
3500 3000 2 500 2 000 1500 1000 January 500 February March0 January April 2 014 2 098 May 2 015 1907 June 2 016 1543 July 2 017 1153 August 2 018 946 September October November December
April 2 52 3 2 307 1934 1457
Spokane Residential Closed Sales
1000 900 800 700 600 500 400 January 300 February 2 00 100 March 0
April May2 014 June2 015 July 2 016 2 017 August 2 018 September October November December
January 2 83 343 352 378 464
16%
23%
March24%
Spokane Odds of Selling
27% 31% 495 30% 555 29% 602 29% 29% 23% 40%
April
384
439
494
554 585 525
2016 352 339 495 May 585 2 745 702 2 42 3 792 2 044 751 1686 821 781 665 2 014 608 664
2017 378 335 555 June 525 2 811 770 2 466 944 2 081 806 1871 903 743 2 0158032 016 705 628
2016 23% 20% 23% 30%May 34%551 38%647 36%702 40%770 41% 39% 2 014 44% 57%
2017 32% 31% 43% June 36% 601 45% 766 50% 792 41% 944 45% 39% 47% 2 015 2 016 52% 63%
2018 464 403 602
July
August
September
October
November
December
2 918
2 835
2 712
2 501
2236
1878
2 493
2 400
2293
2 073
1866
1491
2 114
2 035
1898
1709
1390
1156
1977
2 014
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
2 017
2 018
2018 49% 44% 59%
2 017
2 018
70% 60% 50% 40% 30% 2 0% 10% 0%
January
February
March
April
May
June
July
August
September
October
November
December
2 014
13%
14%
17%
17%
2 0%
2 1%
2 1%
2 1%
19%
22%
2 0%
2 7%
2 015
18%
16%
2 3%
2 4%
2 7%
31%
30%
2 9%
2 9%
2 9%
2 3%
40%
2 016
2 3%
2 0%
2 3%
30%
34%
38%
36%
40%
41%
39%
44%
57%
2 017
32%
31%
43%
36%
45%
50%
41%
45%
39%
47%
52%
63%
2 018
49%
44%
59% 2 014
2 015
2 016
2 017
2 018
November December
183,029 187,324
201,817 195,690
206,837 209,646
2014 152,000 157,750 163,950 169,296 February 164,000 175,476 172,000 187,343 169,800 2 00,2 45 177,160 2 05,077 175,050 2 31,497 169,900 165,500 164,900
2015 160,000 173,000 169,900 170,000 March 175,000 182 ,040 183,500 182 ,738 2190,000 04,562 185,000 220,984 2183,000 37,544 180,000 176,500 176,000
2016 175,000 185,000 187,500 April191,500 May 200,000182 ,335 182 ,945 196,975192 ,400 190,578 208,0002 18,542 2 05,801 199,900227,530 224,351 201,000 198,000 192,750 2 014 191,215
Spokane Average Sales Price
231,512 233,302
2 50,000 2 00,000 150,000
January 100,000 February 50,000 March April 0 May 2 014 June2 015 July 2 016 August 2 017 September 2 018 October November December
January 164,680 176,475 191,2 66 2 06,351 224,091
Spokane Median Sales Price
2017 2018 195,000 208,500 185,000 210,200 204,900 219,000 201,900 June July August 208,250 190,142 186,795 198,140 217,000 2 04,483 2 11,837 2 03,532 217,000 2 17,604 222,321 2 15,382 218,000 2 33,756 2 35,2 41 2 34,671 215,000 209,900 2 015 2 016 2 017 2 018 209,950 215,000
September
October
November
December
192 ,109
191,360
183,029
187,324
2 00,2 20
2 01,766
2 01,817
195,690
2 15,557
2 16,344
2 06,837
2 09,646
236,325
227,733
2 31,512
2 33,302
2 50,000 2 00,000 150,000 100,000 50,000 0
January
February
March
April
May
June
July
August
September
October
November
December
2 014
152 ,000
157,750
163,950
169,2 96
164,000
172 ,000
169,800
177,160
175,050
169,900
165,500
164,900
2 015
160,000
173,000
169,900
170,000
175,000
183,500
190,000
185,000
183,000
180,000
176,500
176,000
2 016
175,000
185,000
187,500
191,500
2 00,000
196,975
2 08,000
199,900
2 01,000
198,000
192 ,750
191,2 15
2 017
195,000
185,000
2 04,900
2 01,900
2 08,2 50
2 17,000
2 17,000
2 18,000
2 15,000
2 09,900
2 09,950
2 15,000
2 018
2 08,500
2 10,2 00
2 19,000 2 014
2 015
2 016
2 017
2 018
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.