HERE'S YOUR WEEKLY LISTING REVIEW FOR

1215 S Ray St

Hi Misty,

There are currently 6 other active land listings under 1 acre within a 1 mile radius of your property. There is 1 that is pending. This property was an off-market transaction where the realtor the knew both the buyer and seller. The address is 4244 E 21st Ave. Quiet corner lot more in the neighborhood. We haven't had any new outreach about your property. I think the biggest issue is the busy road and access to the lot. We did change up the description this week to be more targeted to buyers that would want to build a multi family property on this lot as that is likely one of the better uses for it. We've been on the market for 25 days which is just above the median days on market of 23 days. At this point, with the little outreach we've had, I would recommend a price reduction to $75,000. Let me know if this is something you are interested in or feel free to give me a call and we can discuss further.

As we hit mid-April, the central question is whether national inventory will soon turn negative year-over-year. Inventory growth has plummeted from a 33% peak in 2025 to just 3.21% today. While Spokane is seeing a typical local spring increase, the national trend is slowing so rapidly that some markets already have fewer properties for sale than this time last year. This shift stems from a lower 2026 rate curve and improved mortgage spreads, which are keeping rates below 7% despite the ongoing conflict in Iran (now in its 43rd day). When rates approach the 6% "sweet spot," buyers stay active and inventory thins; without current global volatility, national growth would likely already be negative.

What this means for you? The predicted "inventory explosion" is not happening; the market is tightening instead. This gives us a strategic advantage as serious buyers face fewer options. We remain focused on positioning your property as the "value choice" to capture these motivated buyers before the summer transition.

– Haydn