Even thought Phil our proclaimed meteoroligist Groundhog, spotted his shadow and projects there will be another 6 weeks of winter...I am certain the houseing market of Spokane will not remain in the shadows for quite that long.
We have already noticed a rise in the number of homes sold and pending in comparison to the last year, sales numbers are rising as well.
Last years numbers are in and in 2011 we saw 8,701 homes on the market of which 4,020 sold! not too bad!
The odds of selling a home in Spokane right now are running at about a 10-15% chance of happening
The average and median sales prices were Average (167,665) Median (154,900)
How much did we depreciate over all in decreas of Median Price from the year before....-5.10%
Average interest rates in 2011 were 4.42%
When we look at the overall picture of what these numbers indicate it is obvious that Spokane's market is perfect if you are looking to capitalize on a good deal in a time when interest rates are exceedingly low.
~The U.S. economy is facing some formidable challenges in 2012.
But that doesn't mean there aren't plenty of big opportunities.
In fact, the "special situations" impacting the U.S. markets (rampant inflation, slowing growth, European contagion) in the new year have actually opened up pockets of exploding growth, all over the U.S. we are seeing improvement ...albeit it is slow and miniscule but at this venue improvement is everything.
© 2012 The Spokane Association of Realtors. All rights reserved. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website comes from the Spokane Association of Realtors and the Broker Reciprocity Program.sm. Real estate listings held by brokerage firms other than Coldwell Banker are marked with the BR logo and detailed information about them includes the name of the listing brokers. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Information last updated on 2012-02-06.
