May home sales reach 714

May home sales were up significantly from April, according to market activity reports from the Spokane Association of REALTORS®, which reported 714 closed sales in May, up from 604 in April.

The average sales price for the month was $210,530 while the median price totaled $184,900.

Year-to-date sales are down 2 percent from the same period last year. The Spokane Association of REALTORS® Multiple Listing Service reported that the average number of sales through May is 2,641 compared to 2,697 for the same period last year. Median price through May was $180,000, up 8.5 percent compared to last year.

Listing inventory continues to climb and as of this report stands at 2,756 homes on the market, up 212 homes from April and up 40 percent from last year.

New construction continues to rebound from a sluggish first quarter. Sales reported totaled 124 in May. This number is up 20 over April and up eight homes from May of last year.