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Spokane Market Report

January 2025

Get the latest insights into Spokane's real estate market with comprehensive data, trends, and expert analysis from local broker Joey Costello. Updated monthly with current market conditions.

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Spokane Housing Market Report

January 2025 Market Snapshot

Key metrics showing Spokane's current market conditions

+6.9%
$464,975
Median Home Price
Year over year
-23%
32 days
Average Days on Market
From last year
+18%
2.1 months
Inventory Levels
Supply increase
+12%
487
Homes Sold
Last 30 days
+5.2%
$248
Price per Sq Ft
Year over year
+15%
623
New Listings
Monthly increase

Neighborhood Performance

How different areas of Spokane are performing in the current market

South Hill

Median Price:$685,000
YoY Change:+8.2%
Avg Days:28 days
Hot Market

Brownes Addition

Median Price:$525,000
YoY Change:+6.1%
Avg Days:31 days
Steady Growth

Logan Neighborhood

Median Price:$445,000
YoY Change:+9.3%
Avg Days:25 days
High Demand

Northwest Spokane

Median Price:$495,000
YoY Change:+7.5%
Avg Days:35 days
Family Favorite

Spokane Valley

Median Price:$485,000
YoY Change:+7.2%
Avg Days:29 days
Strong Growth

Liberty Lake

Median Price:$725,000
YoY Change:+9.1%
Avg Days:21 days
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Market Insights

Key factors driving Spokane's real estate market

Inventory Surge Creates Balance

New listings increased 15% this month, providing more options for buyers while maintaining competitive conditions.

Impact: Buyers have more choices, but quality homes still move quickly

Interest Rate Impact

Current rates around 7% are affecting buyer purchasing power, but local demand remains strong.

Impact: Buyers focusing on value and long-term potential

Downtown Development Boom

Major downtown revitalization projects are driving interest in central Spokane neighborhoods.

Impact: Increased investment in downtown and surrounding areas

Tech Sector Growth

Growing tech industry presence is attracting high-earning professionals to the Spokane market.

Impact: Increased demand for mid to high-end housing

Market Forecast

Expert predictions for Spokane's real estate market

Next 3 Months

Confidence:High

Prediction

Continued price growth at 4-6% annually

Key Factors

  • • Spring buying season
  • • New inventory
  • • Interest rate stability

Next 6 Months

Confidence:Medium-High

Prediction

Market balance with steady appreciation

Key Factors

  • • Seasonal patterns
  • • Economic indicators
  • • Local job growth

Next 12 Months

Confidence:Medium

Prediction

5-8% price appreciation expected

Key Factors

  • • Population growth
  • • Supply constraints
  • • Regional economy
Joey Costello - Market Expert
8+
Years Analysis

Expert Market Analysis

As a licensed broker with 8+ years in the Spokane market, I provide detailed monthly analysis to help buyers and sellers make informed decisions. My reports combine local market knowledge with comprehensive data analysis.

Whether you're considering buying, selling, or investing, understanding current market conditions is crucial for success. Get personalized insights for your specific situation.

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