Issuu

NOVEMBER 2022

In November 2022, Spokane home prices were up 5. 8 % compared to last year, selling for a median price of $ 396,750 . On median, homes in Spokane sell after 2 2 days on the market, up 175.0% from last year in November. There were 37 4 homes sold in November this year, down from 71 2 last year.

Average Sales Price Current Listing Inventory Median Days On Market $441,310 Up

month Up

Median Sales Price $396,750

month Up

891

374

Down

Residential Closed Sales 22

6,217 Down

Annual Residential Closed Sales Spokane County Market Report | November 2022 2 Information pulled on 12/01/2022 The information in this report is compiled from a report given by the Spokane Association of REALTORS® and to the best of our knowledge is accurate and current.

0. 4 % from prior

10.8% from prior year

Up 0. 4 % from prior

5.8% from prior year

Down 16. 1 % from prior month

106. 7 % from prior year

Down 25.2% from prior month

47. 5 % from prior year

U p 41. 9 % from prior month

175. 0 % from prior year

18. 4 % from prior year

41 21 20 18 20 22 26 27 29 29 35 45 28 24 19 17 18 20 23 14 9 12 15 17 12 5 4 6 5 4 5 5 5 6 6 5 4 3 4 4 4 4 5 5 5 7 8 7 4 4 4 4 5 6 10 14 17 16 22 0 10 20 30 40 50 2018-012018-042018-072018-102019-012019-042019-072019-102020-012020-042020-072020-102021-012021-042021-072021-102022-012022-042022-072022-10 Median Days On Market As of 12/1/2022 . By month dating from January 2018 to November 2022. Days on Market is the median number of days between when a property is listed and the contract date. Annual Median Sales Price Year to date as of Novembe r Median Sales Price is the mid point (median) value where the price for half of the closed sales is higher and half is lower. $210 $235 $260 $300 $370 $420 $0K $100K $200K $300K $400K $500K 2017 2018 2019 2020 2021 2022 Monthly Mortgage Rates Monthly 30 year fixed mortgage rates highlighting the week ending Thursday, Decembe r 1, 2022. 3.10% 3.11% 3.55% 3.89% 4.67% 5.10% 5.10% 5.70% 5.30% 5.66% 6.70% 7.08% 6.49% 2.50% 3.25% 4.00% 4.75% 5.50% 6.25% 7.00% Nov '21 Dec '21 Jan '22 Feb '22 Mar '22 Apr '22 May '22 June '22 July '22 Aug '22 Sep '22 Oct '22 Nov '22 Spokane County Market Report | November 2022 3

Active

Spokane County Market Report | November 2022 4

Residential Listings As of

. By month dating from January 2018 to Novembe r

Active Inventory is the number of properties for sales at the end of the month,

on the contract date. Active Listings By Price Range As of 12/1/2022 915 1177 1457 1349 838 1090 1437 1053 583 709 677 521 225 276 500 563 224 412 1008 1048 891 0 200 400 600 800 1000 1200 1400 1600 2018-012018-042018-072018-102019-012019-042019-072019-102020-012020-042020-072020-102021-012021-042021-072021-102022-012022-042022-072022-10 8 9 22 42 42 55 49 51 70 67 34 42 36 20 35 96 93 148 114 112 152 158 58 60 0 40 80 120 160 200 240 0-$150K$150-200K200K-$250K$250K-300K$300K-$350K$350K-$400K$400K-$450K$450K-$500K$500K-$600K$600K-$800K$800K-$1M $1M+ 2021 2022 0 $150K 3% $150 200K 2% 200K $250K 3% $250K 300K 9% $300K $350K 9% $350K $400K 12% $400K $450K 10% $450K $500K 11% $500K $600K 13% $600K $800K 16% $800K $1M 6% $1M+ 6% New Residential Listings As of 12/1/2022 . By month dating from January 2018 to November 2022. New Listings is the number of properties listed regardless of current status. 648 961 993 800 614 976 1055 819 638 686 1001 805 509 782 981 789 483 861 1001 658 481 200 400 600 800 1000 1200 2018-012018-042018-072018-102019-012019-042019-072019-102020-012020-042020-072020-102021-012021-042021-072021-102022-012022-042022-072022-10

12/1/2022

2022.

based

Spokane County Market Report | November 2022 5 Residential Closed Sales As of 12/1/2022 . By month dating from January 2018 to November 2022. Closed Sales is the number of properties sold. 472 620 911 697 368 574 860 851 458 548 928 870 465 654 849 732 432 607 604 456 374 300 400 500 600 700 800 900 1000 2018-012018-042018-072018-102019-012019-042019-072019-102020-012020-042020-072020-102021-012021-042021-072021-102022-012022-042022-072022-10 Annual Residential Closed Sales Year to date as of Novembe r Closed Sales is the number of properties sold. 7580 7746 7296 7508 7621 6217 6000 6300 6600 6900 7200 7500 7800 2017 2018 2019 2020 2021 2022 16 28 59 92 97 136 87 71 85 71 22 12 13 5 37 50 61 64 61 39 53 41 24 15 0 30 60 90 120 150 0-$150K$150-200K200K-$250K$250K-300K$300K-$350K$350K-$400K$400K-$450K$450K-$500K$500K-$600K$600K-$800K$800K-$1M $1M+ 2021 2022 0 $150K 3% $150 200K 2% 200K $250K 6% $250K 300K 11% $300K $350K 14% $350K $400K 14% $400K $450K 11% $450K $500K 9% $500K $600K 11% $600K $800K 11% $800K $1M 4% Sold Listings By Price Range Year over year comparison for the month of November.

Months Supply of Inventory

As of 12/1/2022 . By month dating from January 2018 to November 2022. Months Supply of Inventory is the number of months it would take to sell the available inventory at the current rate.

Sale-to-List Price Ratio

As of 12/1/2022 . By month dating from January 2018 to November 2022.

to List Price Ratio is the average of sales price divided by the final list price expressed as a percentage.

1.9 2.3 1.7 1.9 1.8 1.5 1.61.6 2 1.9 1.6 1.3 2.3 2 1.91.9 1.81.8 1.7 1.3 1.4 1.2 1.4 0.9 1.3 1.21.2 1.31.3 0.8 0.70.70.7 0.6 0.5 0.3 0.5 0.40.40.40.40.4 0.60.6 0.80.8 0.6 0.4 0.5 0.6 0.5 0.7 0.8 1.1 1.71.7 2 2.3 2.4 0 0.3 0.6 0.9 1.2 1.5 1.8 2.1 2.4

99.4% 100.6% 101.0% 99.9% 99.6% 101.3% 101.2% 100.3% 99.4% 101.3% 101.5% 101.7% 101.2% 105.4% 105.3% 103.0% 101.4% 105.0% 101.2% 99.2% 98.7% 98.0% 99.0% 100.0% 101.0% 102.0% 103.0% 104.0% 105.0% 106.0% 107.0% 108.0%

Spokane County Market Report | November 2022 6

Sale

2018-012018-042018-072018-102019-012019-042019-072019-102020-012020-042020-072020-102021-012021-042021-072021-102022-012022-042020-072022-10

2018-012018-042018-072018-102019-012019-042019-072019-102020-012020-042020-072020-102021-012021-042021-072021-102022-012022-042022-072022-10

703 782 827 998 909 730 6877 6964 6469 6510 6712 5487 0 1500 3000 4500 6000 7500 9000 2017 2018 2019 2020 2021 2022 New Re-Sale Annual Residential Closed Sales Year to date Re Sale vs New Construction as of Novembe r Closed Sales is the number of properties sold. Annual Median Sales Price Year to date Re Sale vs New Construction as of Novembe r Sales Price is the mid point (median) value where the price for half of the closed sales is higher and half is lower. $200 $225 $250 $285 $360 $400 $301 $335 $350 $361 $443 $500 $150K $225K $300K $375K $450K $525K 2017 2018 2019 2020 2021 2022 Re-Sale New Median Price Per Square Foot As of 12/1/2022 . Monthly Re Sale vs New Construction comparison. Price per Square Foot is the mid point (median) PPSF of all closed listings. $192 $192 $203 $211 $223 $218 $221 $206 $206 $202 $195 $196 $243 $266 $243 $246 $273 $265 $269 $270 $267 $267 $258 $256 $175 $200 $225 $250 $275 $300 Dec '21 Jan '22 Feb '22 Mar '22 Apr '22 May '22 June '22 July '22 Aug '22 Sep '22 Oct '22 Nov '22 Re-Sale New Spokane County Market Report | November 2022 7