Market Update December 2011

In case you’re wondering, here’s what’s happening with real estate in Spokane:

 

Many Realtors, including myself, have seen an increase in calls, online traffic, home showings, and closings this December.  The market feels like there’s been a substantial shift in confidence, and the numbers say the feeling is right.

 

Active listings have continued to decline thru the last two months reportings (October/November), dropping down to just under 2600 properties (from close to 3000 in September).  This equals sold homes, and we know why; successful closings held steady in the range of 320 completed transactions. Usually, they dip down a bit in November… I am very interested to see what December’s numbers show us.  From the buzz around the office, a lot of people were getting new homes for Christmas!

 

Proof positive is seen in the fact that sales this November were up 15.7% over 2010.  Even though average sales prices dropped another 3% the past couple months, if the trends stay the same as the past two years, we should see them leveling off and possibly increasing slightly with the increase in activity and somewhat boosted buyer confidence, not to mention the decrease in inventory.

 

Best of all, interest rates are still holding steady below 4%!

 

I hope this information is useful for you.  Give me a call, text, or email if you’re ready to make your move, just want to say hello, or have any questions regarding the state of the Spokane market or real estate in general.

 

Posted on December 26, 2011 at 11:30 am
Becky Ruark | Category: Market UPdates | Tagged , , , ,

One response to “Market Update December 2011”

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