Is the Spokane real estate market finally bouncing back? Not yet, according to the latest statistics from Realtor.com:
Median list prices for homes in Spokane, WA hit $185,000 in August 2012, a -2.58% decrease from one year ago this month, and -2.12% decrease from July 2012.
The national median list price in August 2012 was $190,000, a 0.05% increase compared to August 2011.
Active for sale inventory of homes in Spokane, WA in August 2012 leveled out at 3,166, a -13.47% decrease compared to August 2011.
National inventory counts for August 2012 were 1,843,736, a -18.68% decrease as compared to a year ago.
The median age of inventory in Spokane, WA in August was 77 days, a 8.45% increase compared to July 2012.
Nationally, the median age of inventory was 91 days, a 3.41% increase compared to July.
Two of the three key indicators are going in the wrong direction, at least from the perspective of homeowners and home sellers. Of course, if you're a first-time home buyer, this is all good news!
For details on all 146 metro areas monitored by Realtor.com in August 2012, click here.