About Spokane County, WA

Spokane Real Estate Statistics for January 2012

In January 2012 there were 2894 homes listed for sale and 205 of those homes closed in January. The odds of selling were 7%.

The median sales price for the month was $147,000 and the average price was $156,121.

I am looking forward to Spring !

Do you call yours co-workers, cohorts or could they be "Co-hearts!

On the airplane returning from Boise to Spokane last night, I picked up the in-flight magazine, Spirit, and on page ten I met Eric Greer a “change and learning facilitator” out of Houston. He is Southwest’s Star of the Month.

A couple of things caught my attention. He calls his co-workers “co-hearts”….now isn’t that a fun concept especially on the eve of Valentine’s Day? And the other, his favorite quote that sums up his philosophy:

“The past is behind; learn from it.

The future is ahead; prepare for it.

The present is here, live it.”

Eric is a guy with a big heart who undoubtedly enjoys life and wants to make the most out of his own life and brighten the day of his “co-hearts”.

That’s it for now. I just wanted to share.

Enjoy the rest of your day.

Residential closed sales (residential site built on less than one acre and condo) totaled 205 for January. This

number is down from December 2011 when 355 sales were reported sold. However, closed sales for January

2012 are the highest for January since 2008. The average sales price was $156,121, up 1.7% from December

2011 and the median price was $147,000, up 1.4% from December 2011. Compared to one year ago, average

and median prices for January 2012 are down 12.7% and 5.2% respectively.

January closed sales are up 11.4% compared to last January. This is the seventh consecutive month where sales

were up compared to the same month a year ago.

Inventory is up compared to this time last year by approximately 220 properties or up 8.1%. New home

construction closed sales were down 35.5% compared to January last year.

As you can see, there have been significanly less listings on the market during the past year than the year previous.

Less homes available on the market with an increase in closed sales trend indicates a market beginning recovery.

Of course nobody knows for sure what the future may bring, but it continues to be a great time for folks in the market who wish to take advantage of the historically low interest rates and affordable prices. Home sellers are beginning to see reductions in inventory and movement towards a more stable market. Of course the number of distressed properties continue to keep downward pressure on prices at present although these inventories are trending downward as well.

This market report is more of a macro county-wide report. I would be happy to pull information for your specific area if your interested in exploring the market in more depth in order to better estimate the present market value of your home. Just give me a call!

February is a great month for bargains! Who doesn’t love to find the perfect piece of clothing on a clearance rack at their favorite store? How about shoes marked down 65 to 85% with another 15% off if I buy them now? Count me in!

But sometimes, the clearance items just don’t work. The shoes pinch my toes! OUCH! Or they are too big! Flop, flop, flop. And if they ARE just the right size, the heels are way too high or they are . . . .well . . . downright hideous!

Sometimes those bargain shoes just don’t fit! They don’t fit my style . . . my feet . . . my needs!

These days in real estate we get buyers who are looking for a super bargain, because they have heard all about the huge clearance sale of foreclosed and short-sale homes.

I recently wrote an article: How to Buy a House - 5 Must Know Tips where I describe some foundational issues that all home buyers face when getting started in their home search. Sometimes people feel the need to jump in and figure things out later when they get serious. This is almost always a disaster yet this is the default road home buyers tend to take.

A real estate agent usually gets involved once they call on a few ads. This is really the best thing that can happen to the home buyer because they then at least ahve a chance to get on the right track. As a real estate professional I can tell you that there is a right way and a wrong way to buy a house. After more than a decade of watching people be both successful and unsucessful I can say that getting educated is probably one of the largest keys to buying a home.

So nothing fancy here, we are talking about one of the most major purchases you are going to make in your life. Instead of jumping in and making mistakes, why not learn how to buy a house from a professional that does it for a living year after year. Remember, you have nothing to lose but your time, money and mind. :]