Spokane Market Newsletter

Spokane Market Watch: April Numbers

1. Median Sales Price: $428,845 +2.0%?? Pretty consistent increases in sales prices: $420k was the median last month.?
2. Closed Sales: 469 Homes -1.5%?? Closed homes stayed relatively similar to last month.?
3. Median DOM: 6 Days -33.3%?????? Compared to 10 days on market last month and 14 the previous month, houses are sitting for less time.

These figures confirm the usual early Spring trend: the market is gearing up for a busy summer. We're still seeing hot listings attract multiple offers. I'm also forecasting that prices will keep climbing and the median days on market will keep dropping. ??Interest Rates Today

The Data Tells Me:

Buyers:

If you are considering looking at purchasing you probably have a good idea that costs are decently high and houses are selling quickly. The concerning thing for me & my buyers is that typically we see the highest prices and most aggressive competition in the summer, so we will probably see things escalate further. Buying soon could secure your investment before prices rise this summer, as they have historically done from March through summer in the past several years.

Sellers:

With home prices in our area on the rise again, now might be the perfect time to think about selling your home and cashing in on the growing market value. If you sell now and quickly move into buying another property, you can use the equity from your current home to get a great deal before prices go up even more. Plus, you'll get to take advantage of the booming Spokane market.

Renters:

Renting is expensive, owning is expensive. BUT owning a home helps you build wealth over time, offers steady monthly payments, and gives you tax breaks. It can seem like with higher rates that waiting might be the right call(which it could be, no one knows the future) but, if/when rates come down the competition is most likely going to get much more aggressive, which could end up driving prices even higher and more out of reach for renters looking to purchase.?

Home Maintenance Tips This Month

Week of May 5th: Replace HVAC Filter, clean other filters too??

Week of May 12th: Check for Mold & Water Damage(bathrooms, siding, decks)??

Week of May 19th: Clean Garbage Disposal & Dishwasher??

Week of May 26th: Care for & clean off Blacktop/Concrete/Pavers??

Comment below or message me I'll send you my 52-Week Home Maintenance PDF

Vendor of the Month

GREATER AMERICAN CONSTRUCTION COMPANY

My go-to for most major house projects - roofing, siding, gutters & more.

Contact Justin Reed (509-939-5930) for information or an estimate on your project. Make sure you mention that you got his info from me if you do!

Comment below or message me I'll send you my 2024 Vendors List PDF

Track Your Home Equity ?? - https://homequityreport.com/joelwoakland

Updates From Our Family

Monroe

is almost 9 months old already. He has been crawling around, eating food, and is starting to pull himself up on things!

Sterling

has been baking like crazy?? and is the best mom to Monroe. She is also a Virtual Assistant helping me and other small businesses with anything & everything.

Ruby

is two and a half and is on her way to having some puppies this summer. The breeder estimates that she could have as many as 12 puppies in June!

Thanks for Reading!

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