Welcome to the latest Spokane market snapshot. After years of booming growth, the Spokane real estate market is showing signs of moderation — but don’t call it a crash. It’s shifting toward a more balanced environment where buyers have more leverage (and sellers still have chances to shine). Let’s dig into what’s happening — and what it means if you’re buying or selling.
Spokane’s Current Market Snapshot
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The median sale price in Spokane recently hovered around $380,000, down about 2.6% year-over-year.
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Homes are staying on the market about 26 days, compared to ~21 days last year — that gives buyers just a little more breathing room.
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Inventory is creeping upward in many neighborhoods, giving buyers more choices.
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Forecasts suggest modest price gains through the rest of 2025 (around 3–4%), thanks to continued demand and tight supply in certain segments.
What Buyers Should Know
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More breathing room, but still act smart. Increased listings means choices — you don’t have to jump on the first decent house. Compare comps, negotiate repairs, and ask for contingency clauses.
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Rates still matter. Even a small move in mortgage rates can change affordability. Lock in rates early if possible.
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Look beyond the surface. Strong homes will still sell quickly — those with updates, strong curb appeal, and desirable locations (near schools, parks, transit).
What Sellers Should Focus On
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Price it right from the start. Overpricing will backfire more often than in the hyper‑hot years.
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Invest in presentation. Small repairs, fresh paint, decluttering, and staging can make a big difference now.
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Market smartly. High‑quality photos, video tours, and leveraging social proof help listings stand out.
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Plan for negotiation. Buyers may push harder on inspections, closing costs, or timing. Be ready to flex smartly.
Neighborhood & Segment Spots to Watch
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South Hill & Kendall Yards continue attracting attention for their amenities, walkability, and newer inventory.
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Entry‑level homes under ~$450K are still seeing competition. Buyers in that range may need to move quickly.
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Mid‑ to upper tiers are slower — more time to inspect, negotiate, and ensure value.
Final Thoughts
The Spokane market in 2025 is evolving from “red hot” to “reliable.” It’s no longer a race for sellers alone — buyers have more space to strategize. Whether you’re buying or selling, decisions backed by local data and expert help will always win. If you want to dig into your specific neighborhood or run comps, I’m here for that. Let’s make your next move smart and confident.
