What’s Going On Now
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The median listing price in the Spokane area is around $460,000, down roughly 2.1 % year‑over‑year as of July 2025.
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According to Zillow, the average home value is approximately $393,670, down about 0.5 % over the past year.
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One market tracker shows the median sale price at about $370,000, up roughly 1.4 % year‑over‑year (September 2025).
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Inventory is ticking up: for example, one update noted inventory growing ~44% year‑over‑year, meaning more choices for buyers.
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Forecasts suggest the market is leaning toward stabilization with modest growth, rather than wild swings.
What It Means for You
For Buyers:
If you’re shopping, this is a pretty decent window. More homes on the market = more options, less frenzy (still some competition, especially under certain price thresholds). With prices mostly flat to slightly up and inventory climbing, you’ve got a little more breathing space. That said—don’t wait forever for rates to drop or “perfect” conditions; the window may shift.
For Sellers:
The “list and sell in 24 hours for 30% over” era is fading. That doesn’t mean you’re out of luck — it means you’ll want your home to show its best (repairs, staging, presentation) and you’ll want a pricing strategy grounded in today’s market (not 2021’s hype). Homes in desirable neighborhoods or with solid upgrades/locations will still move well.
For Both:
Location matters. Neighborhoods like those in North Spokane, West Plains, South Hill are showing varying dynamics — tighter inventory in some, more competition in others. And although the affordability challenge remains (thanks to interest rates + price levels), being informed and moving with purpose pays off.
Key Moves to Make This Week
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Buyers: Get pre‑approved, clarify your must‑haves vs nice‑to‑haves, set alerts for new listings — and consider acting when you find “good enough” instead of waiting for “perfect.”
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Sellers: Tidy up the obvious, fix any quick glaring issues, stage smartly, and price with strategy. If you’re considering listing in the next few months — let’s get your plan in motion now.
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Everyone: Keep in mind that this is a balanced‑to‑buyer‑leaning market compared to the earlier seller‑run mania. Leverage that. But don’t misinterpret “more options” as “prices will drop dramatically” — they likely won’t.
Bottom Line
Spokane’s market in late 2025 is stable. Not broken, not booming like 2020‑21, but healthy. If you approach it with realistic expectations, preparedness, and a good partner (that’s us!), you can make this market work for you. Whether you’re buying, selling or just evaluating — we’re here to help you navigate. Contact us when you’re ready.
