HERE'S YOUR WEEKLY LISTING REVIEW FOR

2017 W Cleveland Ave

Hi Cody,

We had 1 showing over the past seven days. The buyer liked the home and felt the remodel was done well, but ultimately felt the garage was too small for their needs. They also indicated that they viewed the property as being closer to the $300,000 range. We also had a recent sale at 1717 W Cleveland Ave, while 1123 W Nora Ave went pending. We’ll continue monitoring the showing feedback, recent activity, and competing properties to see whether this feedback is consistent with the broader market response.

Here's where the market stands. Mortgage rates hit their high for the year this month. Freddie Mac's weekly 30-year average rose to 6.95%, and daily rates from lenders have crossed 7%, the highest we've seen since January 2025. Spokane is holding steady but buyers have gotten more price-sensitive. The data shows our median sale price at about $375K, down 1.7% from last year. Homes are selling in a median of 22 days, and about 41% of listings have had a price reduction.

Looking ahead, Fannie Mae and the Mortgage Bankers Association both forecast rates of about 6.7–6.8% through year-end and into 2027. So they aren't expecting much relief, and forecasts can change quickly. What that means for you: buyers are still out there and still closing, but they're watching their monthly payment closely and comparing homes carefully, so pricing and presentation matter more right now. Let me know what questions you have.

– Haydn