Spokane County home sales rise 22 percent in January

Spokane County home sales got off to a rapid start in January.

The number of sales for the month increased 22 percent over January 2017, the Spokane Association of Realtors reported.

The number of sales during January was the highest ever recorded for the month during the past 30 years, according to the association.

A total of 464 condos and single-family homes on less than 1 acre sold during January, compared to 379 sales for the same period last year.

Mild weather during January was a factor in the strength of the market, but so was local demand for homes, said Tom McArthur, the Spokane Association of Realtors’ public affairs director.

The average sales price was $224,091 during the month, an increase from $206,176 a year ago.

The median sales price was $208,500 in January, compared to $195,000 a year ago.

Inventories of homes for sale remain low locally and nationally, and real estate agents expect competitive market conditions to persist in 2018.