Another stellar year in Spokane real estate

What a great year in Spokane real estate. Sales figures for 2006 reached the second highest total ever reported by the Spokane Association of REALTORS® Multiple Listing Service. The highest record year was 2005.

The closed home sales for 2006 were down 7 percent compared to 2005. The average and median sales prices continued their upward move. The average sales price for 2006 was $197,384 and the median price was $175,000. These numbers were up 14.5 percent and 16.7 percent, respectively, from 2005.

“Closed sales for December were 743 with an average price of $214,864 and a median price of $179,000.

“New home sales in Spokane during 2006 were off by 10 sales when compared to 2005 transactions. (1,499 vs. 1,509). New construction inventory is still up significantly when compared to last year.