The Spokane Housing Market
Quick Snapshot of The Spokane Housing Market
in April 2025
Trends
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Closed sales decreased in March (9.4%) YoY
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With the overall trend of mortgages being down, buyers are in a stronger position to buy, and sellers can expect more foot traffic.​​
Buying
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Spokane inventory continues to increase on a rapid basis
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Stats consistently point to a balanced market, but high rates and overall low inventory (although inventory is increasing) create an artificial buyer's market​​​.
Selling
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Median home prices in Spokane are down (1.8%) YoY in March to $414k
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Every quarter of a percent drop in mortgage rates encourages new buyers to enter the market.
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Median days on the market have dropped to 12
Spokane Housing Market Statistics Charted
Spokane Housing Market Recommendations
Here's how I recommend responding.
It seems like a good time to be a buyer in this market. You have stabilizing and even slightly falling home prices this past month, on top of this, you have more homes to choose from as new and active inventory increases. Unfortunately, we still have very low inventory here in Spokane, so do not expect prices here to substantially decline anytime soon; the overall trend the past few years has been constantly rising. The basics of supply and demand still apply, where there’s less of a product available, the price rarely goes down.
If you’re a seller in this market, then know that you can have a contract within 2 weeks if you’re priced right. The trick is pricing it right and doing everything you can in terms of proper preparation to give your listing the best chance possible on the market.
