HERE'S YOUR WEEKLY LISTING REVIEW FOR

1516 E Center Rd

Hi Christy & Mike,

Another week has passed with the local land market remaining in a total standstill. While we haven't had a physical showing yet, I am closely monitoring the digital traffic. Buyers are still 'window shopping' the 16 active listings in our radius, but the total lack of movement area-wide suggests that the 'trigger finger' for land acquisitions is currently frozen. We are currently holding our spot as one of the more competitive options among the 16; however, I am watching the competition daily to see if anyone else flinches and drops their price, as that usually signals the start of the next cycle of sales.

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