November Home Sales Move Ahead Of 1996 Performance

Home sales in Spokane County last month outpaced November 1996 by 13 percent.

Some 396 homes changed hands last month as compared with last November’s 350, according to the Spokane Association of Realtors Multiple Listing Service.

“Sales are on a pace that will provide numbers that compare very closely to those a year ago,” said Greg Benner, Realtors Association president.

In fact, November’s strong showing pushed the total number of homes sold this year ahead of last year’s figures. To date, 4,330 homes have been sold this year, compared with 4,318 by this time last year.

Homes sold more quickly this November, at an average 75 days, as compared with 80 days a year ago.

Realtors attribute the strong activity to low interest rates and nice weather.

“The reality is, the ice storm had an impact,” said Bruce Hardie of Coldwell Banker Grand. “It stopped sales for almost the last month of the year. It also impacted sales for the first few months of this year.”

Linda Besse, of Prudential Crane Realty, agreed.

“The closings were devastated last November because of the ice storm,” she said.

For sales closed through this year, the average price is up slightly over last year - $115,194 compared with $113,700.

“We’re just seeing steady, steady,” Hardie said. “It’s supply and demand and right now, they’re fairly even.”

The Spokane Valley continued its strong showing in new home sales. Of the 99 homes sold there last month, 22 were new. The Northwest quadrant of the county led in most homes sold with 119 properties changing hands. Homes also sold the most quickly in the Northwest, at 62 days. Homes stayed on the market longest on the South Hill, at 81 days.

, DataTimes ILLUSTRATION: Graphic: Home sales