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Spokane, Washington  Est. May 19, 1883
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Spokane, Kootenai Home Sales Cool Off

Alison Boggs And Eric Torbenson S Staff writer

After starting the year with a bang, Spokane County’s home sales have leveled off to a dead heat with 1995.

Year-to-date sales through September totaled 3,561, just 49 more than the 3,512 sold by last year at this time. Through September, average prices are 2.3 percent higher this year than last, according to the Spokane Association of Realtors Multiple Listing Service.

Neighboring Kootenai County’s housing market dropped slightly in September, compared to the same month last year. Home prices were up 4 percent in September over the same month last year, but were lower than the year’s average.

Earlier this year, Spokane County’s sales were as much as 18 percent above last year, but dips in June and August slowed the pace.

This September almost mirrors last September in Spokane County. Just two more properties sold than last year, and average prices were slightly lower. Houses, however, stayed on the market for an average of six days more this September.

The lower average price and longer time on the market reflect the buyer’s market that exists in Spokane County, said Bruce Hardie, of Coldwell Banker Grand.

Still, Hardie said, “It’s certainly not gloom and doom.”

The Spokane Valley continued to lead the county in new home sales. Of the 112 properties sold in the Valley, 33 - or 30 percent - were new. The South Hill was a far second. Of the 111 homes sold, only nine were new. The Valley’s average price - $122,429 - also outdid the South Hill’s $112,840 - a rare occurrence.

Hardie expects the Valley’s hot pace to continue. When the Argonne Underpass opens later this month, more new homes north of there will be sold, he said.

Houses are selling most quickly in the northwest section of the county. Market time there averaged 64 days, compared with 70 days in the Valley, 73 days on the South Hill and 72 days in the northeast.

In Kootenai County, a sales drop in Post Falls dragged the market down. Though the rest of the county fared better - up 13 percent in number of sales over last September - Post Falls sales fell 30 percent.

“Things have tapered off here,” said Tim Herzog of Jack Hatch Co. in Post Falls. “We’re looking at a period of slowdown.”

, DataTimes ILLUSTRATION: Graphic: Home sales