HERE'S YOUR WEEKLY LISTING REVIEW FOR

727 S Basalt Rd

Hi Ron & Christine,

We had 6 private showings this week, which is solid activity and shows continued interest in the home. Overall feedback has been that buyers feel the home is a bit overpriced given that it’s somewhat outdated, rather than there being any major issues with the property itself. We also received a low offer. 1 comparable property sold last week (453 N Cochran Pl). That home was in a premium location in Kendall Yards and offered strong updates, modern finishes, and walkable access to downtown, Riverfront Park, and the Centennial Trail, factors that helped it move in today’s market. We’ll continue to drive exposure, monitor feedback closely, and keep you updated on any new activity or stronger interest.

This slower pace is the new normal in Spokane and isn't a reflection of your property. The market shift is primarily driven by higher mortgage rates, currently hovering around 6.0% to 6.11%. This drop in purchasing power means today's buyers are much more cautious, highly selective, and no longer willing to overbid or waive inspections.

Additionally, active inventory has increased to a 3-to-4-month supply (almost 1,700 active listings). With buyers having more options to choose from, the fear of missing out has disappeared. Consequently, the average time to sell a home in Spokane has increased from just two weeks to between 45 and 60 days or more. Achieving a successful sale today requires highly accurate pricing from day one and a healthy dose of patience.

– Haydn