Spokane County’s median home price continues rise in June

Spokane County home prices rose in June, but the number of sales dropped off slightly.

The median sale price was $246,250 for condos and single-family homes on less than 1 acre, according to the Spokane Association of Realtors. Median prices grew 13.9 percent, up from $216,150 in June 2017.

The average price was $268,828, a 15.2 percent gain from $233,361 at this time last year.

A total of 917 homes sold during June, down from 953 homes in June 2017.

Spokane County continues to be a strong seller’s market.

The inventory of homes for sale is down 24 percent compared to a year ago. About 1,422 homes were listed for sale in June, representing a supply of 1.6 months.

For a market to be more evenly balanced between buyers and sellers, a four- to six-month supply of inventory is needed.