June home sales reach 801

Closed home sales for the month of June totaled 801, off slightly from the same month last year when closed sales totaled 804, according to the Residential Report issued by the Spokane Association of REALTORS®.

The average sales price for June was $213,680, while the median sales price was $189,900. Year-to-date sales are down 1.3 percent. For the first six months of 2007, 3,443 residential closed sales have been reported compared to 3,487 for the first six months of 2006. The average sale price through June stands at $209,308, an 11.2-percent increase from the average sales price of $188,248 for the same period in 2006.

The median price stands at $182,500 for the first six months of this year, up 8.6 percent from the median sales price of $168,000 for the same period last year.

Inventory stands at 2,900 active listings, a 33.2 percent increase over the same time last year and up 150 homes from May of this year.

New construction sales reported to the Association totaled 117 in June, up five homes from June 2006 but off seven from May 2007. New construction sales are down 10.6 percent compared to 2006.