Spokane Real Estate Market Shows Signs of Growth with New Listings

The Spokane real estate market is experiencing a gradual increase in inventory, offering potential buyers more options to choose from. As of the end of June, there were 1,253 homes available, marking a significant 31% increase compared to the same period in 2023. This growth in inventory is a positive sign for those looking to purchase a home in the area, as it provides more opportunities and potentially eases competition among buyers.

Despite the increase in available homes, the median price in Spokane has remained steady at $425,000, unchanged from June 2023. This stability in pricing, coupled with the growing inventory, creates a balanced market for both buyers and sellers. For the latest information on Spokane’s real estate market and available properties, interested parties can visit forsalespokane.com.

Top New Listings in Spokane

Among the new listings, three properties stand out for their unique features and competitive pricing. The first is a charming home at 1722 W Spofford Ave, Spokane, WA 99205. This 1,056 square foot property offers 3 bedrooms and 1 bathroom, listed at an attractive price of $249,900. For those seeking more space, the second notable listing at 1227 W Alice Ave, Spokane, WA 99205 provides 4 bedrooms and 3 bathrooms within its 2,448 square feet, priced at $379,000. For luxury buyers, a stunning 6-bedroom, 7-bathroom home with 4,100 square feet is available at 2646 Northport Flat Creek Rd, Kettle Falls, WA 99141.

These new listings reflect the diverse range of options available in the Spokane area, catering to various preferences and budgets. Prospective buyers can find more details about these and other properties at forsalespokane.com.

Market Trends and Buyer Expectations

The current inventory in Spokane would take approximately 2.4 months to sell, an improvement from the 1.5-month supply in June 2023. However, this is still below the ideal six-month supply that indicates a balanced market. In neighboring Kootenai County, homes are averaging just over three months (94 days) on the market before selling, with a median price of $527,000, up 1.8% from 2023.

Due to higher interest rates, sellers are now finding it necessary to make improvements to their homes, such as new flooring or paint, to secure full asking price. This trend highlights the importance of property presentation and condition in the current market. Buyers are becoming more discerning, expecting well-maintained homes that offer value for their investment. For those considering selling their homes, forsalespokane.com can provide valuable insights into market trends and buyer expectations.