HERE'S YOUR WEEKLY LISTING REVIEW FOR

727 S Basalt Rd

Hi Ron & Christine,

We had 1 private showing last week. The buyers shared that they liked the home overall, but ultimately decided they were looking for a property with more updated finishes. We did not receive any concerns regarding the home's layout, location, or asking price. On the market side, there were no new pending or sold comparable properties in the neighborhood in the last 7 days, so market conditions remain largely unchanged. We'll continue maximizing the home's exposure, monitoring comparable activity closely, following up on buyer feedback, and keeping you informed of any new showings or significant market developments.

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