The MAY 2023 stats are OUT for Spokane real estate! This month and next are the most telling for how and when the market took its turn when rates increased. May 2023 median home prices are down 8.4% from May 2022. They declined more than that, but have been making a recovery. If you are waiting to buy, one thing to consider is that when/if rates go "down" the floodgates of buyers on the sidelines will create more bidding wars, and higher prices, and $ over list price, so buying now could be wise! (You can refinance IF rates come down)AND This IS the best time to SELL your house in the Spokane area, for real. Best time of year, super low inventory!  #bethanninspokane #spokanerealestatemarket #spokaneremaxagent  06/07/2023

May 2023 Statistics are out for the Spokane Washington Real Estate Market.These refelect April 2022 VS April 2023.We are experiencing less sales overall , by 32%. The number of listings over last year at this time is double, making it a great time to buy!Selling in the Spring market is always the most favorable.Let me know if you have any question.BethAnn in Spokane 05/06/2023

The statistics are out for the Spokane Association of Realtors for Feb. 2023, reflecting year over year. Feb 2023 vs. Feb 2022.Prices are down considerably from the peak of the market last May 2022  when the median home price was 450K, now it is 375K. The increase in interest rates, coupled with this marked drop in prices makes a more even playing field for sellers and buyers, and the results are less total number of transactions, while consumers are navigating these changes. Spokane has seen this drastic decline in prices because our home prices escalated so much in the 3 years prior, due to large numbers of people relocating here, and Covid conditions (virtual buyers). There is still a marked lack of inventory, and people often still have the need or desire to buy and sell, regardless... 03/07/2023

January 2023 Spokane, Washington real estate market stats are out!These numbers refelect the one year change from Jan 2022 vs Jan 2023.There are many ways to view /track stats. Some people post the month over month real estate stats, however due to the 4 distinct seasons in Spokane, I feel that comparing the market from one year ago, same month, is more informative and telling.In the height of the Spring market 2022, our prices escalated to 450K for the median home price here, now we are at 365K . Big changes! There are "upsides" to every market. I had a phenominal 2022 in real estate- and i am looking forward to a great 2023!I would love to answer any questions you have about the Spokane real estate market!#bethanninspokane #spokaneremaxagent #spokanewashington #housingmarket #remaxhus... 02/06/2023

The latest stats for December 2022 are out from the Spokane Association of Realtors!These numbers reflect the changes year over year from Nov. 2021- vs. Nov. 2022.The median price is now 395,000. (The high for 2022 reached 450K in May/June )We are experiencing a more "normal" market, however inventory is still "low" at a 2.2 month supply of homes. ( a balanced market would have 5-6 month supply ) Therefore, the perk for sellers is that there are still not nearly neough homes on the market, and buyers are getting used to the changes in interest rates, as they see the favorable side of home prices softening.There were 43% less closings in Nov. 2022 than in Nov. 2021. That is VERY significant!I believe it is good for both seller and buyer to be able to take things at a mre reasonable pace.... 12/06/2022

September 2022 Spokane Market Stats, compared to Sept. 2021 are showing a vastly different market enviroment, and the trend is continuing ,to change- mostly due to the increased interest rates.  In May 2022, our % year over year was 20% increase in value. It is now 7.9% increase year over year, so yes prices have fallen sharply, but still are well over this time last year.  The fact that there were 30% less closings in Sept. 2022 than the year before, is very significant. Sellers need far more patience, and buyers are frusterated that they have to look in lower price ranges now, due to the drastic interest rate increases. All in all, there is little to no resemblence to how the market was just this past Spring- and today. However- there are still people who need or want to move- and tha... 10/09/2022

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 August 14th 2022 from "BethAnn in Spokane" The lastest stats came out this past week, for the Spokane, Wa real estate market. Here are some additional comments:We are seeing an average of 175 price reductions each week on the Spokane MLS. One a home sells, the average sales price was 101% of the (last) list price. With sales down 30% we can really feel how the market is returning to a more normal pace. There are twice as many homes for sale as there was this time last year. I see this as a good thing, a more healthy balance. Buyers have more choices (yeah!) and in general, everyone feels less frantic. These numbers represent year over year (July 2022 vs July 2021). I am always happy to answer any questions you have about the Spokane area real estate market!   08/14/2022

The Spokane, WA.  Real Estate estate market is one of the most popular in the Nation presently. This is the latest stats, comparing May 2022 to May of 2021. If you have anyquestions, I would love to connect!  BethAnn Long RE/MAX of Spokane  06/06/2022

May 2022 Spokane Real Estate Market stats are out ! Reflecting back on April of 2022, there is much to note about the market shifting . Yes , interest rates are going up a bit , and this will begin to have an effect to slow down the abnormally dramatic increase in home prices we have experienced in the past two years .Here are a few things to note : homes sold last month for an average of 5 % OVER the list price , and in just 4 days … if there was EVER a great time to sell your house in the Spokane area , it’s still NOW ! Buyers must have a very strategic plan ( I am having great success getting our buyers under contract, the ones who will take our clear advice ) . If you have any questions about the real estate market in the Spokane area . I would love to chat ! #bethanninspokane #spo... 05/06/2022

The Spokane, Washington real estate market is alive and well. It is still a sellers market, due to the number of homes on the market vs active buyers. The supply and demand continues to create bidding wars, and is a real challenge for buyers. In this current market, the most important thing that a buyer can do is improve their cash position ( larger down payment, more earnest money- plus additional funds for an appraisal gap) and the second most important thing, is for buyers to really listen to their agent in regard to the local market trends.  We find that buyers who hope to be an "exception to the rule" get very weary in todays market.With interest rates on the rise, some buyers are getting discouraged. Let me remind you that we bought our first home at 11.8% interest rate, and that ... 04/08/2022

Greetings from Spokane WA.The market statistics in September, reflecting back on Aug. 2021 shows the historically enormous % of our average home price as up by 27.4%  over Aug. 2020.The demand is just far too much for the available supply of homes. I am seeing less offers per listing, reflecting the fact that more buyers tend to be out in the Spring. When people ask " how is the market?" it is important to note that each price range could vary on answers, so digging a little deeper on the neighborhood, price range is key.The Spokane area continues to get a lot of attention in the press for a great place to relocate, retire, invest.  Below is the latest year over year statistics from the Spokane Association of Realtors.Wishing you a beautiful Fall ! BethAnn in Spokane 09/19/2021

Greetings from BethAnn in Spokane. You hear it all around the country, not enough homes for sale, but here in Spokane it is a real crisis ! We had 224 homes on the market, we could sell 2000! (Literally ).I am stunned at the level of interest in my HOME TOWN ! I clearly recall the days when people from bigger cities and other areas poked fun at us "Spokanites". Now it seems everyone wants to live here! The quality of life, natural beauty and 4 distinct Seaons is a real draw to our area. I have never known a better time to SELL your Spokane home! Yes, it can be a challenge to find just the right " place to go ", however there are creative ways to help sellers find the right next home. The market is often painful for buyers, due to the lack of suppy vs. demand. But it is not impossible !L... 06/11/2021

Hi ! It's BethAnn in Spokane with an update on the state of the local Spokane WA Real Estate market. This report reflects last months data, March of 2021.There is no word strong enough to describe the crisis low inventory. The number of homes for sale is less than 15% of what we need to meet the demand. 209 Homes on the market in March? We could sell 2000! There are many contributing factors to the extreme lack of homes on the market. One is that builders have not even begun to build enough new homes. This creates a bottle-neck for everyone from people living in low income rental apartments to every person with the dream of home ownership. More young adults have come to the age where they want to buy, more boomers want to downsize, the list is long. Add a pandemic, and here we are.My su... 04/13/2021

March 2021 Spokane Real Estate News , from BethAnn in Spokane !Last months stats are out (for Feb. 2021 ) , and they are staggering. 131 homes on the market ? 895 closings, meaning we have FAR more buyers than homes for sale. In most ranges we are seeing an average of 12 offers per home. Average price is up over 20% since last year ? What does this mean ?It means buyers have to be far more prepared than EVER to compete. This takes the education and guidance from a very proactive agent in this market. Buyers MUST have patience, persistence, and solid financing.Selling in this market can feel frantic, exciting, and exhausting. With the numerous offers, you must have excellent advice to avoid pitfalls and liability. Selling your home now will surely bring you an amazing price, and a good a... 03/09/2021

My home town of Spokane WA has just been named as " the most competitive market in the nation " according to an article on Redfin's blog by chief Economist Daryl Fairweather.https://www.redfin.com/blog/author/darylfairweather/As a lifelong resident- and REALTOR who works with both locals and many people relocating into my city, I can attest to this. What looks like numbers and data on paper, affects peoples real lives while I work with them. While sellers are ecstatic about what price their home may bring, they are concerned about being able to find their next home in this thick competition. Buyers /buyers agents must be hyper vigilant and willing to compete. Having an agent who works full time, and truly understands the current market is critical. If you have any questions about the Sp... 02/18/2020

Spokane WA Real Estate Market Report Feb. 2020 ( reflecting last months numbers )The Spokane WA. market statistics are out for January 2020.  Each month they come out for the prior month, and I usually post the entire year over year numbers, however I chose to use the Jan. 2019 VS Jan. 2020 numbers in this article.More homes were closed in Jan. 2020 than the prior year by 18%. I am hoping this is telling for whats to come! Because our inventory ( number of homes for sale ) has been SO tight the past few years I was happy to see this.  Prices are UP , and have increased at an unusually fast pace, due to the over all interest in our area. Relocation to Spokane has always been a large part of my business, and continues to grow. As a life long resident of Spokane, I love working with people... 02/08/2020

2019 Spokane, WA.  Real Estate Market Overview, by BethAnn Long RE/MAX Inland Empire in Spokane Wa.Below you will find the year end (2019 ) statistics for our market here in Spokane.What seems to stand out the most, besides the above normal annual appreciation, is the lack of inventory ( number of homes for sale ). We have LESS THAN a one month supply of homes. ouch. This is one factor that is driving prices upward, another is the extreme interest in our area, which has not slowed down.As a life long resident of Spokane, and Realtor with 17 years of experience, I am always asked " how's the market?" I would love to chat with you if you are thinking of buying s home in the Spokane area, selling your Spokane home, or considering relocation to Spokane WA!Have a great day, BethAnn in Spokane 01/21/2020

Welcome back to my Summer 2019 Spokane WA neighborhoods tour! This weeks Spokane neighborhood feature is : Browne's Addition, Spokane's oldest neighborhood, rich in history and home to the cities first founders and visionaries.Situated just West of downtown Spokane, Browne's Addition has some wonderful places to eat including The Elk Pub, Italia Trattoria and more !There are mansions that are labeled with historical plaques which make for a great walking tour . Couer d'Alene park is home to the annual Artfest which is one of my all time favorite local events.The Mac Museum ( https://www.northwestmuseum.org/ ) is located in Browne's Addition and is a must see when visiting Spokane. Many of the historical homes have been converted into apartments and condos, making Browne's Addition a pop... 07/08/2019

Greetings from Spokane WA ! Here is a video tour of Kendall Yards in Spokane WA.  This is my 3rd Spokane WA neighborhoods tour of Summer 2019 ! As a life long resident of Spokane , it has been great watching this area develop over the past years. situated along the breathtaking Spokane River, and Centennial trail , Kendall yards is a perfect mix of fun retail shops, eateries and residential condo's. There are adjacent neighborhoods with single family homes which can be considered when wanting to be close to downtown Spokane or Kendall Yards. As a Spokane Realtor, I am often asked about Kendall yards. The availability of condos for sale in the downtown Spokane Kendall yards neighborhood is generally scarce because their popularity. It can be challenging waiting for one, however they do s... 06/29/2019