Spokane County’s strong housing market continues into fall

Homes continue to sell briskly in Spokane County, with the number of sales in October rising by nearly 20 percent over last year.

The Spokane Association of Realtors reported 803 sales of condos and single-family homes on less than one acre in October, compared to 671 sales during October 2016.

The average sales price was $227,733, a 5.3 percent increase from a year ago.

The median sales price was $209,900, a 5.5 percent increase from October 2016.

About 1,700 homes were listed for sale in October, roughly the same number as a year ago.

Tight inventories of homes for sale led to a “seller’s market” for properties priced under $300,000 in the spring and summer. Many homes received multiple offers and above-listing price offers.

The local real estate market is in its seventh year of recovery since 2011, when it tanked as a result of the recession and the national housing crisis.