Spokane Housing Market Report December 2024•Spokane County, Washington

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Housing Prices in Spokane, WA

How much do homes in Spokane, WA cost?

Housing Market Conditions

Is Spokane, WA a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Spokane is a Seller's Market

Difference Since December 2023

Since last year, Spokane has remained a Seller's Market.

Insight

Spokane is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$404,970$204/SqFt
+$20,879
+5.4%

Based on all homes sold in the last 12 months

Insight

Homes in Spokane have sold for 5.4% more than they did a year ago.

Summary: The median home sold price in Spokane was $404,970 in December 2024, up 5.4% from last year, and the median price per square foot was $204.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Spokane
+5.4%
Nine Mile Falls
+2.7%
Spokane Valley
+2.3%
Spokane South
-1.1%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2023Dec 2024Change YoY
1$210K$205.8K
-2.0%
2$272.8K$268.6K
-1.5%
3$360K$375K
+4.2%
4$430.1K$444.6K
+3.4%
5$556.2K$593.9K
+6.8%

Summary: Spokane housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes decreased by -2.0%. The home price for 2 bedroom homes decreased by -1.5%. The home price for 3 bedroom homes increased by +4.2%. The home price for 4 bedroom homes increased by +3.4%. The home price for 5 bedroom homes increased by +6.8%.

Housing supply in Spokane, WA

How many homes are available in Spokane, WA?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
1,084Last MonthDec 2024
1,1982 months agoNov 2024
-9.5 %
Change MoMNov – Dec

Summary: The Spokane real estate market had 1,084 homes for sale in Dec 2024, a 9.5 % decrease compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
243Last MonthDec 2024
2542 months agoNov 2024
-4.3 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
12628
+7.7%
2157153
-2.5%
3401356
-11.2%
4390340
-12.8%
5224207
-7.6%

Summary: Spokane housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes increased by +7.7%. The inventory for 2 bedroom homes decreased by -2.5%. The inventory for 3 bedroom homes decreased by -11.2%. The inventory for 4 bedroom homes decreased by -12.8%. The inventory for 5 bedroom homes decreased by -7.6%.

Asking Price vs. Sold Price

How much do homes in Spokane, WA cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price54 Homes

At Asking Price73 Homes

Under Asking Price116 Homes

Insight

If you're buying a home in Spokane, you may be able to get a good deal. 47.7% of homes here sold below asking price last month.

Summary: A total of 243 homes were sold or pending in Spokane in December 2024, down by 4.3% month-over-month. Of the 243 sold homes, 48% were sold under asking, 30% were sold at asking, and and 22% were sold over asking.

Days on Market for Spokane, WA

How long does it take to sell a home in Spokane, WA?

Breakdown of Home Sale Times

Under 30 Days135 Homes

30 – 90 Days83 Homes

Over 90 Days25 Homes

Insight

Many homes in Spokane are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 243 homes were sold in Spokane; 56% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
37 DaysThis YearDec 2024
28 Days1 year agoDec 2023
+30.9 %
Change YoYDec 2023 – Dec 2024

Summary: Homes in Spokane had an average listing age of 37 days in Dec 2024, up by 30.9% compared to the previous year.

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Newest Listings in Spokane, WA

What homes are available in Spokane, WA?

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Nearby markets

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MLS Disclaimers and Copyright

Based on information from Spokane Association of REALTORS® MLS, Coeur d'Alene MLS, and Northeast Washington Association of Realtors MLS for the period 01/01/2023 - 01/01/2025

IDX Listings courtesy of Spokane Association of REALTORS® MLS as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Broker Reciprocity The data relating to real estate for sale on this web site comes in part from the Spokane Association of REALTORS®. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that data is deemed reliable but is not guaranteed accurate by the SARMLS. Real estate listings held by other brokerage firms are marked with the IDX logo and detailed information about them includes the name of the listing brokers. Copyright 2025 Spokane Association of REALTORS® MLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 3:10:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Information displayed on this website on listings other than those of the website owner is displayed with permission of the Coeur d'Alene MLS and Broker/Participants of the Coeur d'Alene MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is from sources deemed reliable but is not guaranteed. Prospective buyers should verify information independently. Copyright © 2025 Coeur d’Alene Multiple Listing Service, Inc. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 3:20:55 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
All listings are from Northeast Washington Association of REALTORS® Multiple Listing Service. All information provided is deemed reliable but is not guaranteed and should be independently verified. No reproduction, distribution, or transmission of the information at this site is permitted without the written permission from the MLS Participant. Some properties which appear for sale on this website may subsequently have sold or may no longer be available. Copyright © 2025 Northeast Washington Association of Realtors MLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 3:16:00 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.