High tide or low tide? Have you heard the saying, “A rising tide lifts all ships”? Well, does it? On the water, yes. How about real estate? Rising property values may raise home equity and may tempt more to sell, hoping to pocket this potential equity. The Spokane market has “lifted” a lot recently, including a lift in mortgage interest rates. Does this “rising tide” still lift all? Not really. Continue Reading
Market Report – February 2018
The Heat is On! Even though it’s still cold outside, this winter in Spokane is one of the hottest on record. The real estate market is red hot right now in price ranges under $350,000. Inventory is still very low, and with housing demand continuing to rise, it has created a buying frenzy. Buyers are submitting offers on homes, sometimes competing against 5, 10, even up to 15 other offers, as some Continue Reading
Real Estate Market 2017 – Year End Review
Winter/Spring – 2018 (Article #2) 2017 was a great year for the Spokane real estate market. Normally, values decline at the end of the year. Looking at the average sale price graph, in 2015 and 2016, fall values were lower than summer values. At the end of December 2017, values held steady at an average sale price of $234,352, roughly the same as summer values when selling activity was highest. Continue Reading
