Spokane Market Report February 2014 by Jim Grapes

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Spokane Market Report February 2014

Published on Nov 23, 2015

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PRESENTATION OUTLINE

SPOKANE MARKET REPORT

REAL ESTATE SALES ACTIVITY FOR FEBRUARY 2014

Photo by Roger Lynn

288

FEBRUARY'S CLOSED SALES DOWN 2.4% FROM 2013

Photo by michaelwfreem

571

2014 YTD SALES UP 5% OVER PREVIOUS YEAR

Photo by michaelwfreem

$175,476

AVERAGE SALES PRICE UP 5.7% OVER LAST YEAR

Photo by kfergos

$157,750

MEDIAN SALES PRICE UP 3.1% OVER LAST YEAR

Photo by Ed Suominen

$50,537,171

FEBRUARY '14 SALES VOLUME UP 3.2% OVER LAST FEBRUARY

Photo by Pink Sherbet Photography

2,104

ACTIVE INVENTORY IS UP 3.1% COMPARED TO LAST YEAR

Photo by Denise Cross Photography

306

PENDING SALES DOWN 0.7% FROM LAST FEBRUARY

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601

NEW LISTINGS DOWN 8.0% FROM LAST FEBRUARY

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1,388

2014 YTD NEW LISTINGS DOWN 0.7% FROM LAST YEAR

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41

NEW CONSTRUCTION SALES DOWN 8.9% FROM FEBRUARY 2013

Photo by Navona

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76

YTD NEW CONSTRUCTION SALES DOWN 17.4% FROM 2013

Photo by Navona

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7.31 MONTHS OF INVENTORY

ABSORPTION RATE REPRESENTS A BALANCED MARKET

Photo by Daniel Y. Go

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SUPPLY & DEMAND

Feb. '14 compared to Feb. '13
Inventory up 3.1% (2,104)
Sales down 2.4% (288)
7.31 months of inventory
Balanced market

Photo by Mary Vican