March home sales in Spokane total 511

March home sales in Spokane County slowed somewhat from the same period a year ago. Sales in March totaled 511 houses compared to 653 in March of 2006. Average sales price for March was $206,492.

For the first quarter, sales were down 4.7 percent from the first quarter last year; however sales prices continue to trend upward. Average sales price was up 9.2 percent over the first quarter of 2006. The average sales price for the first quarter of this year was $202,070.

Listing inventory is up approximately 100 homes from last month. Inventory at this time — 2,334 houses compared to 2,232 in February — is down about 27 percent compared to first quarter 2006.

New construction home sales for the first quarter of 2007 are down about 27 percent compared to the first quarter in 2006.

A total of 232 new homes were sold to date, compared to 318 in the same period last year.