The city where the most locals plan to stay put is Spokane, Wash. It’s also the city that is most popular with out-of-towners who want to move in.
Click here to read the article originally published in REALTOR Magazine, November 12th 2018.
The median year over year sale price in North Spokane’s North Indian Trail and Five Mile neighborhoods (MLS Area 331) was found to indicate a year over year median sale price increase of 8.17%.
The year over year median sale price in the MLS area increased from $240,000 in 2016 (based on 786 data points between 10/30/2015 and 10/30/2016) to $259,609 in 2017 (based on 896 data points between 10/30/2016 and 10/30/2017).
Among one unit housing, the neighborhood’s low price was $72,000. The neighborhood’s high price was $840,000. The predominant neighborhood value was $260,000.
Among one unit housing, the neighborhood’s age range was zero years on the low end, 117 years on the high end and the predominant neighborhood age was 19 years.
896 units were found to have been sold in the MLS area over the course of the last 12 months. This indicated an absorption rate of 74.66 units per month.
As of the effective date of this report, 259 active and pending listings were noted in the MLS area which indicated a 3.46 month supply (an under supply) of inventory.
Typical exposure time in the MLS area as a whole was found to be 28 days based on the median DOM of sold homes in the MLS area over the course of the last 12 months.
If you live outside of these North Spokane neighborhoods and would like a snapshot of how things are doing in your neighborhood, feel free to contact me.