Saturday, February 22, 2020
Feb. 22, 2020

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Housing market hot in Spokane County

The Columbian
Published:

SPOKANE — The housing market in Spokane County continues to be brisk, with a lack of available homes for sale and the median closing price approaching $275,000.

The Spokesman-Review reports the median closing price for a home in Spokane County increased 16.3 percent in January to $273,418. That’s compared with $235,000 in January 2019.

The Spokane Association of Realtors says it is likely more homes sold in the $300,000 to $500,000 range, thereby contributing to the area’s increase in median home price.

County home sales rose 18 percent last month compared to January 2019, according to the association.

The shortage in housing inventory continued in January, with 457 properties on the market representing slightly more than a month’s supply. A healthy housing market has a six-month supply of homes.

“The positive thing is we are selling homes as fast as they are coming on the market,” Higgins said.

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