HERE'S YOUR WEEKLY LISTING REVIEW FOR

2107 N Houk Rd Apt 1

Hi Cody,

We had no showing activity over the past seven days. There have also been no recent sales in the immediate area over the past 40 days. One notable data point is 12461 E Olive Ave, which recently went pending after several price reductions. It was originally listed at $270,000 and ultimately went pending at $235,000. The condo market is still slow. We showed some buyers about 8 condos this weekend in this price point. I gave them the option to look at this one but they didn't like the location compared to the rest that were available.

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