Sales of single family homes on less than one acre including condominium sales totaled 705 for November 2017. Compared to November last year when sales totaled 610, closed sales are up 15.6%. Compared to last month when sales totaled 803, closed sales are down 12.2%. The average closed sales price for November was $231,512, an increase of 12% over November’s 2016 closed sales price of $206,701. The median closed sales price for November was $209,950 up 8.9% when compared to November 2016 when the median price was $192,750.

Year to date closed sales continue to out pace 2016. Closed sales through November total 7,479 compared to 6,927 last year through November, up 8%. The YTD average sales price is up 7.6%, $228,469 v. $212,384. The median YTD sales price is up 7.7%, $210,000 v. $195,000.

Inventory continues tight. As of this report, the inventory of single family homes on less than one acre, including condominiums totaled 1,360. This is down 30 homes from the same time last year when 1,390 homes were on the market. New construction sales continue to lag behind last year. Through November there were 696 new construction sales, including condos, down 9.3% from 767 sales reported through November last year.

Source: Spokane Association of Realtors