Spokane Real Estate Market Update July 2008
Our Spokane real estate market according to the Spokane Association of Realtors
What the Spokane Association of Realtors says about Spokane Real Estate:
Closed residential sales reported in June are up 21% over May. There were 592 closed sales reported in June compared to 489 reported for May. The average sales price for June was $216,454 compared to $206,284 for last month. The median price for June was $193,000 compared to $183,000 for May.
Again, here is what the MLS data tells us….
When we look at the Spokane MLS Real Estate statistics, what are we really looking at?
Everything. Every property type. Every city within the MLS. Which is why I don’t like using the MLS stats. Nothing wrong with outside communities or property types, but I want to know about, analyze and discuss Spokane houses.
Spokane Real Estate Video Blog #04
Aaron Mallo video blogs about his opinion of the Spokane real estate market for July 2008.
See Also: Spokane Real Estate Video Blog list for all the Aaron Mallo Spokane Real Estate Video Blogs.
Read also: Spokane Real Estate statistics explanation
So, let’s look at Spokane houses (a subset of the Spokane Real Estate MLS data), as of July 9th, 2008:
(The footnote states: Includes sales data from Spokane, Spokane Valley, Millwood, Veradale, Liberty Lake, Medical Lake & Airway Heights on Single Family Houses on <= 1 acre.)
Spokane Real Estate Market Update June 2008
Our Spokane real estate market according to the Spokane Association of Realtors
What the Spokane Association of Realtors says about Spokane Real Estate:
There were 489 sales reported in May compared to 441 reported in April. The average sales price was up 1.3% from April. May’s average sales price was $206,284 while the median sales price was $183,000.”
Again, here is what the MLS data tells us….
When we look at the Spokane MLS Real Estate statistics, what are we really looking at?
Everything. Every property type. Every city within the MLS. Which is why I don’t like using the MLS stats. Generally, when we discuss the Spokane real estate market, I want to know about single-family homes in and around Spokane, not in Colville, Spangle, etc. Not condos. Not 120 acre parcels. Nothing wrong with these communities or property types, but I want to know about, analyze and discuss Spokane houses.
Read also: Spokane Real Estate statistics explanation
So, let’s look at Spokane houses (a subset of the Spokane Real Estate MLS data), as of June 9th, 2008:
(The footnote states: Includes sales data from Spokane, Spokane Valley, Millwood, Veradale, Liberty Lake, Medical Lake & Airway Heights on Single Family Houses on <= 1 acre.)
I Love FHA, and so do my clients
I love FHA. I love everything about it.
If I could I’d send FHA a little love note and flowers and take FHA out on a date. We’d go to the new Churchhill’s steakhouse in town, then head for a nice stroll along Riverfront Park. I hope my wife doesn’t mind, I’ve invited FHA to move in with us.
FHA-insured mortgages have been the saving grace in an otherwise bloodied lending landscape. My clients have benefited immensely from FHA-insured mortgages. Just this week a client of mine, about to close on a house using an FHA mortgage, wrote to me and said “Thankyou for all the small but significant things you do for us besides the big things… helping us with our investment planning (two homes)…”
See if this scenario works for you…
The Scenario:
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 Bedroom of current home - GORGEOUS, and soon to be a rental |
Spokane Real Estate Market Update May 2008 (part 2)
Part 2 of the Spokane Real Estate Market Update for May 2008… here are a few useful charts and graphs I put together based on the data I pull and analyze from the Spokane Association of Realtors(r).
Again, what we see is
- The usual spring-time uptick in Spokane home sales
- A VERY soft winter in terms of volume of homes sold and seller’s negotiating power
- Volatile month-over-month median sales prices
The Spokanesman Review also mentioned a large drop in high-endSpokane homes sales.
Click on each graph icon below to open the full graph in a new window.
Thanks,
Aaron
Spokane Real Estate Market Update May 2008
Our Spokane real estate market is kicked into high gear
Not as high a gear as the last few years, but the market is certainly holding it’s own. Spring is here and so are the buyers. The market ramped-up mid-February when the snow melted and buyers thawed out, leading to a big March and April closing period.
This is the first statistics report, so, nothing to compare it to from the last few months, we can only look at the raw numbers and MLS statistics.
When we look at the MLS statistics, what are we really looking at?
Everything. Every property type. Every city within the MLS. Which is why I don’t like using the MLS stats. Generally, when we discuss the Spokane real estate market, I want to know about single-family homes in and around Spokane, not in Colville, Spangle, etc. Not condos. Not 120 acre parcels. Nothing wrong with these communities or property types, but I want to know about, analyze and discuss Spokane houses.
So, let’s look at Spokane houses, as of May 10th, 2008:
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