Spokane WA Real Estate: Market Activity Data ....

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MARKET ACTIVITY REPORT DECEMBER 2022 - Spokane Association of Realtors

The final month of the year reporting in single family homes, as well as condominium units, ended the years with a total of 385 close sales for the month of December 2022. When looking at prior year, December 2022ís 385 units vs December 2021ís 675 units marks a decline of 43% YOY. This continues to show a consistency in the slowdown of the market in terms of closing units due to multiple market variables. Slowing the trend, the average price per unit which has been increasing YOY, appears to be flattening as the December 2022 average was $418,562 up just 0.2% from the December 2021 closed sales price of $417,357. Median closed sales price for December 2022 was $384,750 declined YOY by 1.3% from December 2021 median closed sales price of $390,000.

Year end 2022 closed sales through December totaled 5,574. This total finalized for the year down 20.1% compared to closed sales reported through the end of December 2021 of 6,973. The year-end average sales price ended at $442,185 up 11.5% when compared to 2021 which ended with an average closed sales price was $396,661. The median sales price year end closed for 2022 was $400,000 up 10.2% to last yearís year to date sales price through the end of 2021 at $363,002.

Inventory, at the time of this report, totals 650 properties or 1.7 months of inventory, a decline from last months 2.1 months of inventory. New construction closed sales this month were up 12.8% at 64 in December 2022 compared to 57 in the month of November 2022. Ending the year, new construction closed sales are down 28.9% at 808 v. 977.



MARKET ACTIVITY DATA - DECEMBER 2022



Active
Listings

New
Listings

Expired
Listings

Pending
Sales

Closed
Sales

Average
Sales Price
(Closed)

Median
Sales Price
(Closed)

Total
Volume

New Home
Sales
(Closed)

Dec 22

650304200304358$418,562$384,750$149,845,13564

Dec 21

22439586457675$417,357$390,000$281,715,81091

Nov 22

845490196399395$439,148$395,000$173,463,36157

Oct 22

998683158442477$440,732$395,000$210,229,37949

Sep 22

1049847137530580$453,006$405,500$262,473,07354

Aug 22

103990289703629$445,867$420,000$280,450,847808

Jul 22

1011100898622583$461,005$420,000$268,795,16257

Jun 22

798108554663704$478,932$440,000$337,168,27472

May 22

47997243785638$481,543$450,000$307,224,33174

Apr 22

35285530709570$460,388$425,000$262,420,97368

Mar 22

23373925588538$457,967$430,000$246,386,23277

Feb 22

23754229476347$426,067$400,000$147,845,23153

Jan 22

20949343423411$413,100$380,000$169,784,13051

YTD 22

N/A9,1191,3446,6366,623$415,593$415,000$2,990,905,847808

YTD 21

N/A9,0164657,4258,238$400,612$370,000$3,300,247,454999

If you would like more detailed statistics for the area where you live just email Jeannette

Jeannette Karis, ABR,AHWD,CRS,ePro,GRI,MRP,SFR,SRES - "The Broker with the English accent!"©
call/text 509-994-8246 // licensed in WA state
RE/MAX of Spokane, 12810 E Nora Ave Suite E, Spokane WA 99216 (each office independently owned & operated)