HERE'S YOUR WEEKLY LISTING REVIEW FOR

1215 S Ray St

Hi Misty,

I’m monitoring the activity daily, and the message from the market remains consistent: the current buyer pool is bypassing our price point. While it’s tempting to wait for a 'thaw' in the neighborhood, we have to acknowledge that silence is a form of feedback. By holding at our current price, we are essentially helping our competitors by making them look like a better value. Implementing a strategic price reduction now allows us to 'intercept' the buyers who have been sitting on the sidelines. We’ve seen the 'wait and see' approach play out for several weeks; I’d like to pivot to a 'search and capture' strategy before we head further into the month.

Spokane’s housing market continues to evolve as active inventory reached 3,052 listings this April, a 16.4% increase over the 2,621 available at the same time last year. This growth has led to a slight softening in pricing, with the median sales price dipping from $420,000 last spring to $415,000 today. Similarly, the median price per square foot has eased from $227 down to $222, signaling a shift toward a more balanced environment for buyers.

With more options on the market and listings staying active for a median of 13 days compared to 11 last year, buyers are becoming increasingly discerning. They are taking more time to evaluate their choices, which makes sharp presentation and competitive pricing more critical than ever. By positioning your property effectively against this larger pool of resale inventory, we can ensure it stands out as a top-tier option for these more selective buyers.

– Haydn