Spokane Real Estate Market Activity - 2021 Thru March 2023
(source: Spokane Association of Realtors)

Closing out the month of March 2023, single-family homes, as well as condominium units, reported a total of 450 closed sales. Looking back to March of 2022, this indicates a decline in sales of approximately 16.4% YOY at 450 v. 538.

The average closed sales price for March of 2023 was $434,932, a decline of 5% from March 2022 with a closed sales price of $457,967. Median closed sales price for March 2023 was $399,547 down by 7.1% YOY from March 2022 median closed sales price of $430,000.

Inventory, at the time of this report, totals 543 properties or 1.3 months of inventory, a slight decrease from last month with 1.7 months of inventory.

New construction closed sales declined 18.2% at 63 in March 2023 compared to 77 in March last year. New construction closed sales are up by 37% in March 2023 with 63 vs 46 in February 2023. Average new construction sales price for the month of March 2023 was $568,137, a 2.7% increase YOY versus March of 2022. Median new construction sales price ended March at $495,294 a 8.1% decrease from March 2022 which was $539,900.

Mark Mors, Realtor®, e-Pro
Professional Realty Services, International
4407 N Division St, 9th Floor, Spokane, WA 99207
Phone:(509) 879-2892
e-mail BJ & Mark

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