Is Spokane South, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Spokane South was a Seller's Market.
Housing Prices in Spokane South, WA
How much do homes in Spokane South, WA cost?
Median Sold Price
$670,000
$235/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Spokane South was $670,000 in May 2024, up 1.5% from last year, and the median price per square foot was $235.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $299K | $387.4K | +29.6% |
3 Bedrooms | $547K | $619.9K | +13.3% |
4 Bedrooms | $665K | $645K | -3.0% |
5+ Bedrooms | $785K | $820K | +4.5% |
Summary: Spokane South housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 29.6%, 3 bedroom homes increased by 13.3%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes increased by 4.5%.
Median Sold Price Compared To Nearby Cities
Spokane | $367K | $394.9K | +7.6% |
Spokane South | $660K | $670K | +1.5% |
Cheney-Medical Lake | $398.7K | $395K | -0.9% |
Housing Supply in Spokane South, WA
How many homes are available in Spokane South, WA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
62 | 82 | +32.3% |
Summary: The Spokane South real estate market had 82 homes for sale in May 2024, a 32.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 2 | 5 | +150.0% |
3 Bedrooms | 19 | 22 | +15.8% |
4 Bedrooms | 20 | 32 | +60.0% |
5+ Bedrooms | 21 | 22 | +4.8% |
Summary: The Spokane South housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 150%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 60%, and 5+ bedroom homes increased by 4.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
11 | 10 | -9.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Spokane South in May 2024, down by 9.1% month-over-month. Of the 10 sold homes, 50% were sold under asking, 20% were sold at asking, and 30% were sold over asking.
Days on Market for Spokane South, WA
How long does it take to sell a home in Spokane South, WA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
21 Days | 29 Days | +38.4% |
Summary: Homes in Spokane South had an average of 29 days on market in May 2024, up by 38.4% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 10 homes were sold in Spokane South; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.