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Find the best homes and land in North Idaho! Spokane Area Home Sales Data : Last Updated July 15th, 2008 Sales of existing homes fell by more than thirty two percent in Spokane County in the first quarter of 2008 over the year ago period. Despite this huge drop in sales of existing homes, the median price of these homes was up about 2.7 percent to $186,800! Average prices in Whitman county rose an amazing 19.2% over the prior year to $211,100, continuing strong price gains from the fourth quarter numbers as well. In Adams county the median price was $106,000. This county had the lowest median sales price and units sold fell forty-eight percent over the first quarter sales of 2007. This "thrashing about" of units sold to sale price is indicative of a market trying to find its bottom. Many real estate agents will admit that it is still a buyer's market, but that the buyers seem to be getting more interested and more serious. Something seems to be dancing about in the winds lately - and it may well be that buyers are now feeling a market bottom forming! 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 a 5.6% increase in units sold in the first half of 2008 over the first half of 2007. The average sales price was down about seven and a half percent. Days on Market for the first half of 2008 was up three percent to 112 days versus 108 days for the first half of 2007. 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! The elongation of the days on market figure coupled with a mixed price to units sold picture again suggests a market trying to find its feet. Keep in mind that this article deals with Washington County home sales. 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.
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Residential Units on less than one acre sold/CDA MLS First Six Months YoY
Median Sale Price first half each year
Chart reflects CDA MLS data only Charts reflect first half data (2008 over 2007 and not quarterly data) CDA MLS allows for inclusion of Washington County Real Estate that is within 75 miles of the Idaho border
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| Data obtained from the Washington Center for Real Estate Research, the Coeur d'Alene Association of Realtors and is believed to be accurate but is not guaranteed. Some information reflected in this report may be forward looking statements which are only an opinion and may not reflect the overall opinion of Tomlinson North Idaho - Sotheby's International Realty. | Residential Home Sales Charts |
Chart reflects CDA MLS data only
Each Office Is Independently Owned And Operated. Equal Housing Opportunity. Some information on North Idaho Real Estate is provided by CAR MLS. Information deemed to be reliable but is not guaranteed.
