HERE'S YOUR WEEKLY LISTING REVIEW FOR

519 S Fox Rd

Hi Christopher & Jennifer,

We’ve had a total of 9 showings. Typically my rule of thumb is if we have 10 showings and no offers, we need to discuss making some sort of change, whether that’s price or presentation. So we’ll likely want to review what is working and what isn’t to see what we can do to get an offer. 

Thoughts for the Week: Mortgage rates are holding steady in the low 6s this week (around 6.1%–6.3% per Mortgage News Daily), offering a bit of relief compared to earlier this year. Nationally, Redfin’s latest Home Turnover Report shows the fewest homes changing hands in nearly 30 years, as many homeowners stay put with sub-4% mortgages. Locally, Spokane’s October data for residential homes and condos shows a median sales price of $429,995, essentially flat month-over-month and down just 1.8% from last year. Closed sales dropped 11.5% to 552, while the median days on market held at 25. Sellers are still receiving about 98.8% of list price, and active inventory rose slightly to 2,177 homes—equating to 3.9 months of supply. This points to a balanced market where pricing accuracy and presentation matter most; buyers have options, but well-priced listings are still moving steadily.

– Haydn