HERE'S YOUR WEEKLY LISTING REVIEW FOR

2315 W Chadwick Ln

Hi Mohammad & Kobra,

Hello! It was quiet over the last 7 days with no new showings. I would like to schedule a time we can discuss next steps and make sure we don't lose momentum. There were two recent sales in the neighborhood, including 2718 W Heath Ave and 8318 N Summerhill Ln, both of these were in the mid $500K range so it gives us perspective as to what price bracket buyers might actually be shopping in. I can see on 5 mile there are 14 active homes and 8 pending showing about 5.5 months of inventory. Meaning we are in a balanced market. About half of the pending listings had been on the market for 3-4 months before accepting an offer. Only 2 of the 8 pending listings are above $600K. Most are in the $500K's. Please let me know some times that you both may be available to talk.

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