Is Mount Spokane, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Mount Spokane has remained a Seller's Market.
Key Takeaway
Mount Spokane is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mount Spokane, WA
How much do homes in Mount Spokane, WA cost?
Median Sold Price
$660,000
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mount Spokane have sold for 7.1% more than they did a year ago.
Summary: The median home sold price in Mount Spokane was $660,000 in May 2024, up 7.1% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $236K | $187.4K | -20.6% |
| 2 Bedrooms | $255K | $449K | +76.1% |
| 3 Bedrooms | $500K | $735.6K | +47.1% |
| 4 Bedrooms | $619.1K | $670K | +8.2% |
| 5+ Bedrooms | $850K | $740K | -12.9% |
Summary: Mount Spokane housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.6%, 2 bedroom homes increased by 76.1%, 3 bedroom homes increased by 47.1%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes decreased by 12.9%.
Median Sold Price Compared To Nearby Cities
| Mount Spokane | $616.2K | $660K | +7.1% |
| Mead | $453.5K | $473.9K | +4.5% |
| Colbert | $609K | $599.9K | -1.5% |
| Newman Lake | $500K | $477.5K | -4.5% |
| Chattaroy | $630K | $587.5K | -6.7% |
Housing Supply in Mount Spokane, WA
How many homes are available in Mount Spokane, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 37 | 46 | +24.3% |
Summary: The Mount Spokane real estate market had 46 homes for sale in May 2024, a 24.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 3 | 5 | +66.7% |
| 3 Bedrooms | 5 | 9 | +80.0% |
| 4 Bedrooms | 15 | 17 | +13.3% |
| 5+ Bedrooms | 11 | 12 | +9.1% |
Summary: The Mount Spokane housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 80%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 9 | +28.6% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mount Spokane, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Mount Spokane in May 2024, up by 28.6% month-over-month. Of the 8 sold homes, 13% were sold under asking, 38% were sold at asking, and 50% were sold over asking.
Days on Market for Mount Spokane, WA
How long does it take to sell a home in Mount Spokane, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 43 Days | 7 Days | -81.9% |
Summary: Homes in Mount Spokane had an average of 7 days on market in May 2024, down by 81.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mount Spokane are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in Mount Spokane; 78% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of Spokane Association of REALTORS® MLS as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.