September Home Sales Highest In Valley Area

The Spokane Valley lead the county in home sales for September, with mostly mid-priced homes those in the $100,000 to $159,000 leading the pack.

A total of 135 homes sold in the Valley during September, at an average price of $124,793, up from the same month last year, with 112 homes sold with an average price of $122,429.

Total Valley sales volume last month was $16.8 million, up 3.1 million from 1996.

There seems to be fewer entry level homes placed on the market, said Bob Krafft of Windemere Real Estate. With many new apartments in the Valley, it will take time before people begin to move into their first homes.

“The first time home buyer seems to have backed off a bit,” he said. “But with time that will change.” The Valley’s average home price dropped about $10,000 during September, after a $17,000 jump from July to August.

In August, sales jumped 25 percent compared to the same month last year. Stable interest rates and the Spokane Valley Mall’s opening, which brought in about 500 new jobs contributed to the growth market analysts said

That’s not surprising, said Krafft. Generally sales pick up during that time after families return from vacation. Then in September sales slump as school starts and winter season kicks in.

After the Valley, northwest Spokane came in second with the total number of home sales at 129 and an average price of $104,422. The most expensive Valley home sold for $257,000, because it had a “million dollar view,” said Bruce Hardie, listing agent for Coldwell Banker Grand.

The contemporary 4-bedroom, 3-bath home sat on a half-acre lot with three acres of greenbelt in Bella Vista. It had a northwest view all the way up the Valley to the city with a view of Mica Peak.

, DataTimes