Spokane County, WA Real Estate News

By BethAnn Long, Realtor, CRS, e-PRO, Spokane Wa Real Estate
(RE/MAX of Spokane)
It's November, 2022- and the market is speaking. The "median" home price in Spokane has fallen 12.4% since May, but is still up 6.5% over October of 2021.With 34.1 % less closings than this time last year, we see it is much more difficult to put a deal together, where seller is ok with the softer prices- and buyer is ok with the higher interest rates.Some people choose to sell/but based on market conditions. But most people move for personal or professional reasons.Personally, I am thankful that the housing market is less "frantic" than it was in the last few years.Carefully examining your "why" and "when" is important when selling or buying a home, but I have also seen many people over think this. Timing the market is difficult. I would love to chat with you about your real estate goal...
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By BethAnn Long, Realtor, CRS, e-PRO, Spokane Wa Real Estate
(RE/MAX of Spokane)
September 2022 Spokane Market Stats, compared to Sept. 2021 are showing a vastly different market enviroment, and the trend is continuing ,to change- mostly due to the increased interest rates.  In May 2022, our % year over year was 20% increase in value. It is now 7.9% increase year over year, so yes prices have fallen sharply, but still are well over this time last year.  The fact that there were 30% less closings in Sept. 2022 than the year before, is very significant. Sellers need far more patience, and buyers are frusterated that they have to look in lower price ranges now, due to the drastic interest rate increases. All in all, there is little to no resemblence to how the market was just this past Spring- and today. However- there are still people who need or want to move- and tha...
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By BethAnn Long, Realtor, CRS, e-PRO, Spokane Wa Real Estate
(RE/MAX of Spokane)
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By BethAnn Long, Realtor, CRS, e-PRO, Spokane Wa Real Estate
(RE/MAX of Spokane)
 August 14th 2022 from "BethAnn in Spokane" The lastest stats came out this past week, for the Spokane, Wa real estate market. Here are some additional comments:We are seeing an average of 175 price reductions each week on the Spokane MLS. One a home sells, the average sales price was 101% of the (last) list price. With sales down 30% we can really feel how the market is returning to a more normal pace. There are twice as many homes for sale as there was this time last year. I see this as a good thing, a more healthy balance. Buyers have more choices (yeah!) and in general, everyone feels less frantic. These numbers represent year over year (July 2022 vs July 2021). I am always happy to answer any questions you have about the Spokane area real estate market!  
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By BethAnn Long, Realtor, CRS, e-PRO, Spokane Wa Real Estate
(RE/MAX of Spokane)
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By BethAnn Long, Realtor, CRS, e-PRO, Spokane Wa Real Estate
(RE/MAX of Spokane)
The Spokane, WA.  Real Estate estate market is one of the most popular in the Nation presently. This is the latest stats, comparing May 2022 to May of 2021. If you have anyquestions, I would love to connect!  BethAnn Long RE/MAX of Spokane 
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By BethAnn Long, Realtor, CRS, e-PRO, Spokane Wa Real Estate
(RE/MAX of Spokane)
May 2022 Spokane Real Estate Market stats are out ! Reflecting back on April of 2022, there is much to note about the market shifting . Yes , interest rates are going up a bit , and this will begin to have an effect to slow down the abnormally dramatic increase in home prices we have experienced in the past two years .Here are a few things to note : homes sold last month for an average of 5 % OVER the list price , and in just 4 days … if there was EVER a great time to sell your house in the Spokane area , it’s still NOW ! Buyers must have a very strategic plan ( I am having great success getting our buyers under contract, the ones who will take our clear advice ) . If you have any questions about the real estate market in the Spokane area . I would love to chat ! #bethanninspokane #spo...
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By BethAnn Long, Realtor, CRS, e-PRO, Spokane Wa Real Estate
(RE/MAX of Spokane)
The Spokane, Washington real estate market is alive and well. It is still a sellers market, due to the number of homes on the market vs active buyers. The supply and demand continues to create bidding wars, and is a real challenge for buyers. In this current market, the most important thing that a buyer can do is improve their cash position ( larger down payment, more earnest money- plus additional funds for an appraisal gap) and the second most important thing, is for buyers to really listen to their agent in regard to the local market trends.  We find that buyers who hope to be an "exception to the rule" get very weary in todays market.With interest rates on the rise, some buyers are getting discouraged. Let me remind you that we bought our first home at 11.8% interest rate, and that ...
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By BethAnn Long, Realtor, CRS, e-PRO, Spokane Wa Real Estate
(RE/MAX of Spokane)
Greetings from Spokane Washington! As a life long resident of Spokane, and a Realtor with almost 19 years of experience, I am in awe at the number of people relocating to Spokane. We have had so much press the past few years, we are now consistently between #1 -3 in the NATION for number of bidding wars, and we have been written up in the New York Times (recently  although I can't say I agree with the article)https://www.nytimes.com/2022/02/20/business/economy/spokane-housing-expensive-cities.htmlI have always loved my city, minus a few weeks in the winter when I am more than ready for Spring... I never moved away, and many people who do, come back.There are so many wonderful areas in our town, each with unique personality, look and feel. We have done great getting our buyers under cont...
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By BethAnn Long, Realtor, CRS, e-PRO, Spokane Wa Real Estate
(RE/MAX of Spokane)
Greetings from Spokane WA. One of the " hottest" real estate markets in the USA.It was a very "tight" year for inventory (number of homes on the market ) vs number of active buyers.  All indications point to another record year predicted for 2022 for my home city of Spokane. People are relocating here from all over! #bethanninspokaneAs a life long resident of Spokane, I am not surprised people find my city amazing.If you would like a complimentary market analysis of your current home in the Spokane area, I would be happy to provide that, as it is truly a sellers market.If you would like to buy a home in Spokane or the greater Spokane area, I have been highly sucessful in landing a home for my buyers, even in the tough market!Here's to a wonderful 2022 for all, BethAnn Long RE/MAX Inland...
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By BethAnn Long, Realtor, CRS, e-PRO, Spokane Wa Real Estate
(RE/MAX of Spokane)
Greetings from Spokane WA - from "BethAnn in Spokane"The 2021 Spokane WA real estate market has been "hot and bothered " depending on what your goals were. Sellers seem to be in the drivers seat, however buyers  agents are getting so creative that it has made a real difference in how offers are chosen. Realtor.com has predicted that Spokane WA will be the third hottest real estate market in 2022!   https://www.realtor.com/news/trends/competition-fierce-for-2022-top-10-housing-markets/  I had a record year in 2021, and I am ready for whatever 2022 has to bring.I believe that regardless of the increase in value over the past year (24%) , due to the demand of people relocating to the Spokane area, we will remain a very stable market. Buyers are smart to take advantage of the still historic...
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By BethAnn Long, Realtor, CRS, e-PRO, Spokane Wa Real Estate
(RE/MAX of Spokane)
As a lifelong resident of Spokane WA, I never had to look elsewhere to experience magical Holiday experiences! Growing up, it was mostly playing in the snow, going to church, and my moms home made Christmas painted windows. Rasing our kids in Spokane, there was almost always a "White Christmas" filled with sledding, making snowmen, and living in Winter Wonderland!One of our TV stations here has a list of 101 things to do over the holidays, KXLY has this link : https://www.kxly.com/101-things-to-do-in-the-inland-northwest-this-holiday-season-2/Some of my favorite more recent Holiday " musts" are attending Christmas Tree Elegence , a fundraiser for the Spokane symphony: :https://spokanesymphonyassoc.org/home/christmas-tree-elegance/Another is the lights at Manito Park !https://thefriendso...
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By BethAnn Long, Realtor, CRS, e-PRO, Spokane Wa Real Estate
(RE/MAX of Spokane)
Greetings from Spokane WA.The market statistics in September, reflecting back on Aug. 2021 shows the historically enormous % of our average home price as up by 27.4%  over Aug. 2020.The demand is just far too much for the available supply of homes. I am seeing less offers per listing, reflecting the fact that more buyers tend to be out in the Spring. When people ask " how is the market?" it is important to note that each price range could vary on answers, so digging a little deeper on the neighborhood, price range is key.The Spokane area continues to get a lot of attention in the press for a great place to relocate, retire, invest.  Below is the latest year over year statistics from the Spokane Association of Realtors.Wishing you a beautiful Fall ! BethAnn in Spokane
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By BethAnn Long, Realtor, CRS, e-PRO, Spokane Wa Real Estate
(RE/MAX of Spokane)
Greetings from BethAnn in Spokane. You hear it all around the country, not enough homes for sale, but here in Spokane it is a real crisis ! We had 224 homes on the market, we could sell 2000! (Literally ).I am stunned at the level of interest in my HOME TOWN ! I clearly recall the days when people from bigger cities and other areas poked fun at us "Spokanites". Now it seems everyone wants to live here! The quality of life, natural beauty and 4 distinct Seaons is a real draw to our area. I have never known a better time to SELL your Spokane home! Yes, it can be a challenge to find just the right " place to go ", however there are creative ways to help sellers find the right next home. The market is often painful for buyers, due to the lack of suppy vs. demand. But it is not impossible !L...
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By BethAnn Long, Realtor, CRS, e-PRO, Spokane Wa Real Estate
(RE/MAX of Spokane)
Hi ! It's BethAnn in Spokane with an update on the state of the local Spokane WA Real Estate market. This report reflects last months data, March of 2021.There is no word strong enough to describe the crisis low inventory. The number of homes for sale is less than 15% of what we need to meet the demand. 209 Homes on the market in March? We could sell 2000! There are many contributing factors to the extreme lack of homes on the market. One is that builders have not even begun to build enough new homes. This creates a bottle-neck for everyone from people living in low income rental apartments to every person with the dream of home ownership. More young adults have come to the age where they want to buy, more boomers want to downsize, the list is long. Add a pandemic, and here we are.My su...
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By BethAnn Long, Realtor, CRS, e-PRO, Spokane Wa Real Estate
(RE/MAX of Spokane)
March 2021 Spokane Real Estate News , from BethAnn in Spokane !Last months stats are out (for Feb. 2021 ) , and they are staggering. 131 homes on the market ? 895 closings, meaning we have FAR more buyers than homes for sale. In most ranges we are seeing an average of 12 offers per home. Average price is up over 20% since last year ? What does this mean ?It means buyers have to be far more prepared than EVER to compete. This takes the education and guidance from a very proactive agent in this market. Buyers MUST have patience, persistence, and solid financing.Selling in this market can feel frantic, exciting, and exhausting. With the numerous offers, you must have excellent advice to avoid pitfalls and liability. Selling your home now will surely bring you an amazing price, and a good a...
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By BethAnn Long, Realtor, CRS, e-PRO, Spokane Wa Real Estate
(RE/MAX of Spokane)
How will COVID-19 affect the Spokane WA real estate market ? I have received calls, texts, and e -mails asking if I know how COVID-19 will affect the Spokane WA real estate market. My answer has been " it is too soon to tell " for the most part. Deemed as the #1 market in the Nation for level of interest from outsiders as a place to relocate, Spokane has some " special " standings . To substantiate my reference regarding Spokane's unique market please see :https://www.spokesman.com/stories/2019/nov/16/realtorcom-spokane-named-top-market-for-out-of-are/The Spokane WA market has seen unprecedented increases in home values the past 3 years , and while we knew this could not continue at the same rate, I feel our market holds a bold strength and will remain in the leading markets once things...
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By BethAnn Long, Realtor, CRS, e-PRO, Spokane Wa Real Estate
(RE/MAX of Spokane)
My home town of Spokane WA has just been named as " the most competitive market in the nation " according to an article on Redfin's blog by chief Economist Daryl Fairweather.https://www.redfin.com/blog/author/darylfairweather/As a lifelong resident- and REALTOR who works with both locals and many people relocating into my city, I can attest to this. What looks like numbers and data on paper, affects peoples real lives while I work with them. While sellers are ecstatic about what price their home may bring, they are concerned about being able to find their next home in this thick competition. Buyers /buyers agents must be hyper vigilant and willing to compete. Having an agent who works full time, and truly understands the current market is critical. If you have any questions about the Sp...
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By BethAnn Long, Realtor, CRS, e-PRO, Spokane Wa Real Estate
(RE/MAX of Spokane)
Spokane WA Real Estate Market Report Feb. 2020 ( reflecting last months numbers )The Spokane WA. market statistics are out for January 2020.  Each month they come out for the prior month, and I usually post the entire year over year numbers, however I chose to use the Jan. 2019 VS Jan. 2020 numbers in this article.More homes were closed in Jan. 2020 than the prior year by 18%. I am hoping this is telling for whats to come! Because our inventory ( number of homes for sale ) has been SO tight the past few years I was happy to see this.  Prices are UP , and have increased at an unusually fast pace, due to the over all interest in our area. Relocation to Spokane has always been a large part of my business, and continues to grow. As a life long resident of Spokane, I love working with people...
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By BethAnn Long, Realtor, CRS, e-PRO, Spokane Wa Real Estate
(RE/MAX of Spokane)
2019 Spokane, WA.  Real Estate Market Overview, by BethAnn Long RE/MAX Inland Empire in Spokane Wa.Below you will find the year end (2019 ) statistics for our market here in Spokane.What seems to stand out the most, besides the above normal annual appreciation, is the lack of inventory ( number of homes for sale ). We have LESS THAN a one month supply of homes. ouch. This is one factor that is driving prices upward, another is the extreme interest in our area, which has not slowed down.As a life long resident of Spokane, and Realtor with 17 years of experience, I am always asked " how's the market?" I would love to chat with you if you are thinking of buying s home in the Spokane area, selling your Spokane home, or considering relocation to Spokane WA!Have a great day, BethAnn in Spokane
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