September 4, 2009 in Business, City

Home sale numbers mixed, but prices still down

The Spokesman-Review
 

Home sales dipped 9 percent in Spokane County from July to August, but sales of existing homes were up over August 2008, the Spokane Association of Realtors said today.

Prices were down from the previous month and from last year, and the number of homes on the market grew slightly last month, according to the group’s monthly market report.

Realtors closed 488 sales in August, down from 537 in July but up from 475 in August 2008. For the year, 2,884 homes have sold in the county, a decrease of about 17 percent over the first eight months of 2008.

The biggest drop is in new home sales: 355 new homes have sold through August, down 35 percent from last year, when 547 had sold through August.

Homes on average sold for $189,711 in August, down from $194,324 in July and $203,271 in August 2008. The median price was $169,975, compared to $176,000 in July and $185,000 a year ago.

There were 3,466 homes for sale in August, up from 3,412 in July and about the same number as in August 2008.


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