Spokane, Wash.-area home prices rose in 2018 as a strong seller’s market persisted.
Demand for single-family homes outpaced supply, often leading to multiple offers on homes and escalating prices.
The average sales price for a house in Spokane County was $255,931 last year, according to the Spokane Association of Realtors. That’s a gain of nearly 12% from 2017’s average price of $228,701.
The median sales price also rose 12%, to $235,000 from $210,000.
Inventories of homes for sale were down 21% in 2018 compared to the prior year. At the end December, there were 798 homes for sale.
The number of homes sold rose 1%. According to the Spokane Realtors Association, 8,212 single-family homes and condos were sold last year.
Tribune Content Agency