Housing sales on the South Side dropped in January from year-ago volume, along with the average sales price, according to figures from the Spokane Association of Realtors.
Last month, 55 South Side homes sold for an average price of $119,041. That compares with the sale of 60 homes in January 1996 at an average price of $128,410.
That represents an 8 percent drop in average price from January 1996 to January 1997.
However, the December 1996 figures showed that 120 homes were sold that month at an average price of $126,234.
Greg Benner, sales manager for Tomlinson Black South and the president of the association, said January 1996 proved to be a big month for real estate sales, so agents were pleased to see that the number of sales last month nearly matched the total a year earlier.
The weather during the winter and the types of homes being sold in a given month can cause fluctuations in the sales and price figures, said Don Walker, spokesman for the association.
“We’re in good shape,” said Walker. “People are buying homes. There are plenty to buy.”
Countywide, the average price of homes sold during the past two Januarys dropped from $109,410 in January 1996 to $108,496 last month.
Local journalism is essential.
Give directly to The Spokesman-Review's Northwest Passages community forums series -- which helps to offset the costs of several reporter and editor positions at the newspaper -- by using the easy options below. Gifts processed in this system are not tax deductible, but are predominately used to help meet the local financial requirements needed to receive national matching-grant funds.
Subscribe to the Coronavirus newsletter
Get the day’s latest Coronavirus news delivered to your inbox by subscribing to our newsletter.