HERE'S YOUR WEEKLY LISTING REVIEW FOR

722 Panorama Dr

Hi Laurie & Dennis,

We have not had any private showings, and buyer activity remains limited, with only a few inquiries from people who noticed the sign while driving by. At this point, those conversations have been more out of curiosity than serious purchasing interest. Market conditions also remain largely unchanged, with a limited number of comparable properties available and buyer demand for acreage continuing to move at a slower pace. Based on recent comparable sales, particularly the nearby property that took more than 275 days to sell and ultimately closed below its previous purchase price, current pricing continues to be an important factor in attracting qualified buyers. While your property has remained visible across all marketing channels, a price adjustment may help generate renewed interest and improve its competitive position in today's market. We will continue monitoring comparable sales and buyer activity closely, maximize the property's exposure, and keep you informed immediately of any new inquiries, showings, or changes in market conditions.

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