HERE'S YOUR WEEKLY LISTING REVIEW FOR

NKA North Valley Rd

Hi Sidney,

We had no showings last week, and there has been no new activity on the listing yet. The vacant land market continues to move very slowly in the current Spokane market, with land listings generally taking longer to attract buyers and convert to offers compared with residential properties. With limited activity across the land market, the lack of showings is not necessarily unique to our listing and appears to reflect the broader market conditions. We'll continue monitoring activity and buyer interest closely while allowing the listing time to gain exposure in what remains a slower segment of the market.

The latest economic data gives us a mix of encouraging and cautious signals. Inflation showed some positive movement in July, with consumer prices rising just 0.1% for the month and core inflation slowing to 2.5% annually. Wholesale inflation was also essentially flat, suggesting that overall price pressures may be easing. This is encouraging for the housing market because cooler inflation could give the Federal Reserve more flexibility when considering future interest-rate decisions, which could eventually help mortgage rates move lower.

Locally, as we have made it to the other side of our typical peak of the market, we can see how we are doing compared to last year. In May of 2025, we saw a peak median price of $470K in the residential market and we missed that by quite a bit this year. We saw a peak of $450K in both May and June and are seeing a slow softening into the fall market, current sitting at $446,000. Now 2 things are true, we are closing more homes and the market is also slower. Inventory is up 12% from last year, while close sales are up 9%. We continue to head more towards the market of 2017/2018 with the amount of inventory we have and quickly approach 4 months supply of inventory, leaning us into what I would call a balanced market between buyers and sellers.

– Haydn