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Home sale up for eighth month

Home sales in Spokane County rose for the eighth consecutive month compared with 2009 levels, according to May statistics from the Spokane Association of Realtors.

The May total of 519 was up almost 33 percent compared with May 2009. Sales were also marginally ahead of the 505 in April, the last month in which first-time buyers could take advantage of an $8,000 income tax credit.

The average home price of $180,523 was a slight increase from April, and only $1,200 below the May 2009 average. The median price, at $160,747, was off less than two percent from April, and just 3.1 percent from May 2009.

For the first five months of 2010, home sales increased almost one-third. The average price has declined 7.8 percent, the median price 5.9 percent.

The inventory of unsold homes declined from April, to 3,304, but remains above the 3,159 of a year ago. 


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The Spokesman-Review business team follows economic development in Spokane and the Inland Northwest.

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