Between August 2020 and August 2021, home prices across the United States and Canada rose to record levels, with the U.S. housing market rising to a record of 19.9% and the Canadian housing market rising to a record 21.4%. 

2022 stands to be another strong year for sellers. If you're thinking about selling your home, being aware of the trends in the market will help you understand the strength of the market. 

Our monthly market update showcases everything you need to know about local real estate trends over the last month. 

April 2022 Market Update for Spokane, WA

570 closed sales of single family homes on less than one acre, including condominiums were reported for April 2022. Closed sales are down 6.9% when compared to April 2021, when 612 closed sales were reported. The average closed sales price for April 2022 was $460,388 up 17.3% from April 2021, when the average closed sales price was $392,566. The median closed sales price was $425,000 for April 2022 up 19.2% from April 2021, when the median closed sales price was $356,500. YTD closed sales of single family homes on less than one acre, including condominiums through April this year total 1,943. Closed sales year to date through April last year totaled 2,152, closed sales year to date are down 9.7%. Year to date average closed sales price through April is $441,710 an increase of 19.9% compared to the same period last year, $441,710 v. $368,427. Year to date median closed sales price through April is $411,000, when compared to last year’s median closed sales price through April of $355,000, the increase is 15.8%. Inventory as of this report is up to 352 properties compared to last year when we reported 188 properties. New construction closed sales for April 2022 were up slightly as of this report when compared to last April.