Current State of the Spokane Real Estate Market

The real estate market in Spokane, WA, as of October 2024, presents a captivating snapshot of trends and listings. Understanding the present dynamics offers potential buyers and sellers a nuanced perspective on housing opportunities in the area. The Spokane housing landscape has been somewhat stable but edged with caution, reflecting broader economic trends and local factors.

Property Pricing and Listing Statistics

With a median home price of $421,600 as recorded in September 2024, the Spokane housing market offers properties within a broad range of prices. Despite the sluggish global real estate trends, Spokane managed to have 851 new listings in September, with a total home inventory of 1,358 units, maintaining a considerable level of market activity.

A noticeable reduction occurs in the time homes spend on the market, averaging 38 days, suggesting a balance between supply and demand. However, closed sales in September numbered 474, signaling a steady demand that aligns with the available inventory. Visit forsalespokane.com for current listings and guides to purchasing property in Spokane.

Diverse Property Listings

Specific listings provide a glimpse into the variety available in Spokane. At 114 E Glass Ave, a home featured by Keller Williams Spokane – Main is priced at $419,900 and offers 3 bedrooms and 2 bathrooms within 2,612 square feet. For those preferring a smaller home, 4109 S. Garfield St. offers 3 bedrooms and 2 bathrooms for $450,000, though its square footage remains unspecified.

Meanwhile, prospective buyers looking for larger family homes might find 7402 E 9th Ave appealing. Priced at $365,000 and also listed by Keller Williams Spokane – Main, this property includes 4 bedrooms and 2 bathrooms, spanning 1,724 square feet. These listings underscore the heterogeneity of the Spokane real estate market.

Market Trends and Cautiousness

The overall atmosphere in the Spokane housing market as we navigate October 2024 is one of caution. The declining trend in the national housing market, coupled with local factors, has prompted both buyers and sellers to tread carefully. This environment means negotiating terms that balance perceived value with prospective market shifts is essential.

In terms of land deals, Spokane offers large parcels, including options such as 10-acre lots, priced between $16.7K and $747K per acre. Such diversity in lot sizes and land price variance further emphasize Spokane’s appeal for varied investor interests. Those interested in exploring these opportunities can gather detailed insights and support from forsalespokane.com.

It’s evident that the Spokane housing landscape offers unique real estate opportunities with its diverse listings. As the market cautiously evolves, both local and prospective buyers can capitalize on current conditions with informed decision-making based on emerging trends and precise listings.