Spokane home sales reach 719 in July

Closed home sales for the month of July in Spokane County totaled 719 homes, down 56 from June. The average sales price for the homes reported sold in July was $221,299, while the median price was $196,000.

Year-to-date sales were down 2.5 percent. Sales for the year through July total 4,162 homes compared to 4,267 for the same period last year. The year-to-date average sales price is $211,370, compared to $191,320 in 2006 for a 10.5-percent increase.

Inventory of single-family homes on less than one acre has topped 3,000 and now totals 3,111. Last month, the inventory as of the Market Activity Report was 2,906. Compared to last year, inventory is up approximately 30 percent.

Sales of new homes continue to lag behind last year’s pace. Sales reported to the Spokane Association of REALTORS® Multiple Listing Service total 695 through July, a decline of 13.6 percent compared to the 804 new homes sold during the same period last year.