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Realtor.com finds Spokane home sales up, but not as fast as in Seattle and Boise

Realtor.com has generated a national ranking of home sales at the metro level, and found Spokane in April of this year ranked 143 out of 146 cities, based on the number of visitor searches on the Realtor.com website. price increases and declines in number of homes for sale.

Realtor.com said April showed a continuing improvement in sales and prices; inventory of single-family homes, condos, townhouses and co-ops nationwide declined by 18.85 percent in April 2012 compared to a year ago, and declined in all but five of the 146 markets.

The company's data for Spokane was:

  • median price of property sold in April: $184,900, down 2.1 percent from April 2011, up 2.8 percent from March 2012.
  • total listings: 2,620, down 13 percent from April 2011, up 4.5 percent from March 2012.
  • median age of inventory: 70 days; down 14 percent from April 2011, down 14.7 percent from March 2012.                                                       

Seattle ranked 65th in total searches in the April listing, and Boise landed at 135th.

Seattle's major showing is a gain of 6.1 percent in median prices since last year, and a 4.5 percent gain in median prices of sold properties since March of this year. Seattle showed a whopping 40 percent decline in total listings on the market since April 2011.

Nationally, the median age of the inventory fell 11.57 percent on a year-over-year basis last month, and the median national list price declined slightly, down 0.35 percent in April 2012 compared to April 2011.

Washington home sales: good news and some definite bad news

Washington state home sales inched up 0.8 percent at seasonally adjusted annual rates from the first quarter of the year to 85,870 units, according to a report from the Washington Center for Real Estate Research, managed by Washington State University and its director, Glenn Crellin.
The increase is tied to stronger home sales in the third quarter, according to the report.
The 2011 cumulative sales figure is 21.7 percent above the year-ago rate, which Crellin said had been artificially depressed after the expiration of the home purchase tax credit.
The overall picture, he added, was that the state was more or less evenly split between counties reporting increasing activity and those reporting decreasing sales.
Nine urban counties, led by increases of more than 20 percent compared to the 2011 2Q,  saw improving sales.  The biggest quarter-to-quarter decline in urban sales was an 11.7 percent drop in Longview and Cowlitz County.
The 3Q median sales price statewide was $225,300, 9.5 percent below that of one year ago.
This is the largest median price decline since a 13.7 percent drop in 1Q of 2009. Prices have declined year-over-year for the last 15 quarters, with the statewide median now below the third quarter 2004 level – seven years ago.
Crellin must regard that unbroken string as fairly astonishing or depressing, because the original release ended that sentence with an exclamation mark!!

Spokane homes sales slow in July

Spokane County homes sales tumbled in July, but prices slipped only slightly from year-ago levels, according to the Spokane Association of Realtors.

A total 347 homes sold during the month, off 36 percent from July 2009 and 31 percent from June, when the last of the sales prompted by an $8,000 federal income tax credit closed. The credit expired April 30.

The July retreat broke a nine-month string of year-over-year sales increases.

Median and average prices sagged to $170,000 and $191,074, respectively, down 3.4 percent and 1.7 percent from July 2009.

The 321 pending sales for July also fell significantly compared with July 2009, which tracks a national downturn Lawrence Yun, chief economist for the National Association of Realtors, said he expects to continue until later in the year.

Although inventories of unsold homes remain high, Yun said prices are stabilizing, or even improving in some harder-hit markets.

In Spokane, 3,500 homes were listed as of Aug. 4, a 10-month inventory at the July rate of sales.

Spokane home sale prices up from May

Home sales in Spokane County dipped slightly in the past month but remain near levels seen a year ago.

The average sales price in June was up from May but lower than one year ago, the Spokane Association of Realtors reported today.

Closed sales totaled 506 in June, down from 519 in May. In June 2009, there were 501 closed sales in the county.

The average sales price in June was $190,308, up from $180,523. A year ago, the average sales price was $193.164.

Closed residential sales in the first half of the year are up 24.5 percent from the same period in 2009.

The number of homes and condominiums for sale grew in June to 3,406. That’s up by 102 properties from May. A year ago, 3,282 homes and condos were on the market.

Realtors report burst of home sales in first quarter

Realtors today reported a burst of home sales in Spokane County during the first three months of the year.

Residential sales of single-family homes and condos on less than an acre were up 23.2 percent over the first quarter of 2009, according to the Spokane Association of Realtors.

The group reported 790 closed sales during the January-March period, up from 641 a year ago.

The pickup in sales corresponds with a surge in interest among homebuyers taking advantage of a federal homebuyer tax credit. The popular tax credit, which expires April 30, has benefited millions of first-time and move-up buyers purchasing new homes.

Another reason for rising sales may be falling prices. The median price of Spokane County homes sold in the first quarter was nearly $160,000, which is $15,000 less than homes sold in the first three months of 2009. Realtors say first-time homebuyers are drawn to those prices.

The average sales price in the first quarter was $177,480, down from $200,125 in 2009.

More homes were listed for sale in the first quarter: 2,897 versus 2,138 in the first three months of 2009.