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Spokane Area Home Sales Data :

Last Updated January 8, 2009

Statewide existing home sales fell 5.1% in the third quarter of 2008 from the second quarter. Sales were down 26% year over year. Spokane County fared better, down only 1.5% from the prior quarter and down 20.5% from the prior years results.

Overall median prices were down 10.4% from the prior year. Once again Spokane did better than the state overall, with a median price decline of only 7.8% to $191,300. There were counties that had median price increases, though the number of counties was few and price increases were generally kept in check below five percent. Asotin, Garfield and Pacific counties were three of the better performing counties with median price increases between three and four percent. Klickitat County was the only one to substantially buck the trend with a median price increase just shy of fifteen percent!

Data on Spokane Counties from the Coeur d'Alene MLS (properties within 75 miles of the Idaho border and listed in the CDA MLS) show a similar picture. Looking at residential units on less than one acre only we see an 18% decline in units sold in the first three quarters of 2008 over the same period in 2007. The average sales price was down only two percent.

Sale price for this year was 98% of list versus 99% of list for last year! In other words if you didn't price your home within two percent of its market value then it had little chance of selling!

Although the market was down we can see from both the CAR Spokane County Data and the more comprehensive full state report that home sales were down and, generally speaking, prices were down. But the effects were better in Spokane County than many other counties.

For a detailed analysis of home sales data in North Idaho, check out our North Idaho Sales Report.

To see the original Washington County snapshot report, click here.

3Q 2008 Sold Properties as reported by CAR MLS

Note: CAR MLS reports on a limited number of Spokane County Sales. Data in this report reflects Statewide Report by County from the Washington Center for Real Estate Research unless otherswise stated. Data believed to be accurate but is not guaranteed.