HERE'S YOUR WEEKLY LISTING REVIEW FOR

1623 W Garland Ave

Hi Marco,

Over the past week, we had 3 private showings and received consistent buyer feedback. While buyers recognized the home's potential, several felt it lacked the overall appeal they were looking for and would require cosmetic updates to better compete with other homes on the market. The location was also mentioned as a factor, with some buyers feeling it wasn't the right fit for their needs. Based on the feedback we've received, a price adjustment may help better offset buyers' concerns about the home's appearance and location, making it more attractive in today's market and increasing the likelihood of finding the right buyer. We'll continue maximizing the property's exposure, following up after each showing for additional feedback, and keeping you informed of any new buyer interest or significant market developments.

On the general market side of things, the Spokane housing market continues to move toward a more balanced environment as inventory remains elevated, with approximately 2.8 to 3.3 months of housing supply available across the market. Buyers have more options than they've had in recent years, resulting in a slower pace overall. Well-priced homes are still selling, but many listings are now averaging 15 to 30 days before going pending, while properties that are priced too aggressively or need updates are often remaining on the market for 60 days or longer. As a result, price reductions have become increasingly common as sellers adjust to today's more payment-conscious buyers.

Despite these changes, strong demand still exists for homes that are competitively priced and move-in ready. Updated 3-bedroom homes priced under $400,000 continue to generate strong interest and, in many cases, are selling within 5 to 7 days. Meanwhile, homes priced above $600,000, or those that entered the market above their perceived value, are generally taking longer to sell and often require one or more price adjustments before going under contract.

– Haydn