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 REALTORS® Spokane Association Association ofof REALTORS® YEAR HOMEHOME SALESSALES REPORT 2018END MONTHLY REPORT
2017 MAY
SALES DOWN 2.4%
UNIT SALES UP Closed sales of single family homes7% on less than one acre
including condos for May 2018homes total 758on compared to one acre Closed sales of single family less than May 2017 when the was 777.8,137 compared to 7,601 for including condos fortotal 2017 total 2016.
AVERAGE PRICE UP 16.5%
The average closed price for May 2018 was $265,057 compared to AVERAGE PRICE UP 7.8% May 2017 when the average price was $227,481.*
The average closed price for 2017 is $228,732 compared to $212,189 for 2016. *
MEDIAN PRICE UP 15.4%
The median closed price for May 2018 was $240,000 compared to May 2017 when the median price was $208,000.*
MEDIAN PRICE UP 7.7% *NOTE: Does not represent home values.
The median closed price for 2017 is $210,000 compared to $195,000 for 2016. *
INVENTORY DOWN
*NOTE: Does not represent home values.
Inventory is down 17.6% compared to May 2017. Current inventory, as of this report totals 1,389 properties which represents a 1.8 months supply.
INVENTORY DOWN NOTE: Months supply based on closed sales for May.
Inventory is down 12.6% compared to last year. Current inventory as of this report totals 1,010 properties which represents a 1.6 months supply.
DISTRESSED SALES DOWN
Sales of Distressed homes accounted for 3.2% of sales in May NOTE: Months supply based on closed sales for December. 2018 compared to 5% in May 2017.
Information comes fromwhich the SAR’s Activity Report which looks at single residential/ NOTE: Information comes fromNOTE: the SAR’s Monthly Activity Report looks Monthly at single family residential/site built properties on family less than one acre and condominiums. site built properties on less than one acre and condominiums.
December
1878
1491
2014 283 288 384 February 439 2104 551 2093 601 1685 626 1094 609 924 504 562 455 507
2015 343 325 494 March 554 2270 647 2162 766 2162 755 1268 694 1018 657 591 437 597
2014 13% 14% 17% February 17% 288 20% 325 21% 339 21% 335 21% 19% 403 22% 20% 27%
2015 18%
1156
Spokane Residential Listings
1010
3500 3000 2500 2000 1500 1000 January 500 February March0 January April 2014 2098 May 2015 1907 June 2016 1543 July 2017 1153 August 2018 946 September October November December
April 2523 2307 1934 1457 1165
Spokane Residential Closed Sales
1000 900 800 700 600 500 400 January 300 February 200 100 March 0
April May2014 June2015 July 2016 2017 August 2018 September October November December
January 283 343 352 378 464
16%
23%
March24%
Spokane Odds of Selling
27% 31% 495 30% 555 29% 602 29% 29% 23% 40%
April
384
439
494
554 585 525 608
2016 352 339 495 May 585 2745 702 2423 792 2044 751 1686 821 1389 781 665 2014 608 664
2017 378 335 555 June 525 2811 770 2466 944 2081 806 1871 903 743 20158032016 705 628
2016 23% 20% 23% 30%May 34%551 38%647 36%702 40%770 41%758 39% 2014 44% 57%
2017 32% 31% 43% June 36% 601 45% 766 50% 792 41% 944 45% 39% 47% 2015 2016 52% 63%
2018 464 403 602 July 608 2918 758
August
September
October
November
December
2835
2712
2501
2236
1878
2493
2400
2293
2073
1866
1491
2114
2035
1898
1709
1390
1156
1977
2014
1918
1709
1360
1010
September
October
November
December
2017
2018
2018 49% 44% 59% July 52% August 626 55% 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
70% 60% 50% 40% 30% 20% 10% 0%
January
February
March
April
May
June
July
August
September
October
November
December
2014
13%
14%
17%
17%
20%
21%
21%
21%
19%
22%
20%
27%
2015
18%
16%
23%
24%
27%
31%
30%
29%
29%
29%
23%
40%
2016
23%
20%
23%
30%
34%
38%
36%
40%
41%
39%
44%
57%
2017
32%
31%
43%
36%
45%
50%
41%
45%
39%
47%
52%
63%
2018
49%
44%
59%
52%
55% 2014
2015
2016
2017
2018
November December
183,029 187,324
201,817 195,690
206,837 209,646
2014 152,000 157,750 163,950 169,296 February 164,000 175,476 172,000 187,343 169,800 200,245 177,160 205,077 175,050 231,497 169,900 165,500 164,900
2015 160,000 173,000 169,900 170,000 March 175,000 182,040 183,500 182,738 190,000 204,562 185,000 220,984 183,000 237,544 180,000 176,500 176,000
2016 175,000 185,000 187,500 April191,500 May 200,000182,335 182,945 196,975192,400 190,578 208,000218,542 205,801 199,900227,530 224,351 201,000265,057 254,594 198,000 192,750 2014 191,215
Spokane Average Sales Price
231,512 233,302
300,000 250,000 200,000 150,000
January 100,000 February 50,000 March April 0 May 2014 June2015 July 2016 August 2017 September 2018 October November December
January 164,680 176,475 191,266 206,351 224,091
Spokane Median Sales Price
2017 195,000 185,000 204,900 201,900 June 208,250 190,142 217,000 204,483 217,000 217,604 218,000 233,756 215,000 209,900 2015 2016 209,950 215,000
2018 208,500 210,200 219,000 231,097 July 240,000 186,795
August
September
October
November
December
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
300,000 250,000 200,000 150,000 100,000 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
219,000
231,097
240,000 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.