November home sales total 481

November closed sales in Spokane totaled 481 sales compared to 597 sales in October of 2007, according to the Spokane Association of REALTORS®. The average sales price in November was $203,204 with a median sales price of $176,000.

The year-to-date closed sales through November continue to be down when compared to last year. Through November, home sales in the Spokane area are down 8.2 percent. The average sales price through November was $211,317, and median price was $185,000. These numbers are up 8.1 percent and 5.6 percent, respectively, to year-to-date sales figures for 2006.

Inventory dropped below 3,000 for the first time in four months and stands at 2,864 at this report. Inventory continues to be up approximately 20 percent over the same time last year.

Sales of new residential construction reported to the Association totaled 94 in November. Year-to-date sales of new construction are down 10.7 percent.