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According to the latest numbers, our Spokane market is still looking good as we head into fall.
The average list-to-sale price ratio is 94%, which means if you put your home on the market, you can expect to get 94% of your asking price back. Our average days on market has jumped in the last couple months from 30 to 40 days, but that’s partially due to the seasonal change and many potential buyers focusing on the beginning of the school year and the upcoming holidays.
In short, it’s a great time to buy. From a historical perspective, interest rates are still relatively low, and if you buy a home in the wintertime, you can probably take a little off the asking price. If you’re holding out and waiting for the market to cool down a little bit, winter is a great time to start your home search as well.
Now is also a great time to sell your home, but you have to be strategic about it. Inventory is low, so you have to know the kind of buyer that will be looking at your home this time of year.
If you have any other questions about our Spokane market or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to us. We’d be happy to help you.