How Much Do Homes Cost in Spokane? A 2025 Buyer’s Guide
- Nick Briggs
- Jun 17
- 5 min read
As Spokane continues to grow in popularity, the real estate market in 2025 reflects both its expanding economic opportunities and lifestyle appeal. Known for its natural beauty, beautiful neighborhoods, and relatively lower cost of living compared to other major cities in Washington, Spokane is attracting a diverse mix of buyers. Whether you're relocating, investing, or searching for your forever home, understanding Spokane's 2025 housing market is essential. As a Spokane real estate agent, I'm writing this guide to help you navigate local market trends and find the best value for your home-buying dollar.
Spokane Real Estate Market at a Glance in 2025
The median home price in Spokane in 2025 is approximately $450,000, showing a modest 5% increase from 2024. The market has stabilized following a surge of buyers moving in during the post-pandemic boom. Inventory levels have improved slightly, but demand remains strong, especially for mid-tier homes and properties in desirable locations.
How Much Do Homes Cost in Spokane (2025 Overview)
In 2025, the average home price in Spokane varies widely depending on the neighborhood and property type:
Condos/Townhomes: $275,000 – $350,000
Single-Family Homes: $350,000 – $700,000
New Construction: $450,000 – $600,000
You can still find homes under $350,000, but they usually don't stay listed for long. The question "how much do homes cost in Spokane" depends largely on your lifestyle and space preferences.
Popular Neighborhoods and Their Price Ranges
South Hill: A popular area with older charm, tree-lined streets, and historic homes. Prices range from $400,000 to $700,000.
Kendall Yards: A vibrant, urban neighborhood with new condos and townhomes. Expect prices from $500,000 and up.
North Spokane: Offers a mix of affordability and space. Average prices hover between $350,000 and $600,000 depending on what you're looking for.
Spokane Valley: A mix of old and new, with homes ranging from $400,000 to $700,000 depending on what you're looking for.
Cost Per Square Foot in Spokane
The average cost per square foot in Spokane is about $230 in 2025, although that varies by location and home condition. Newer homes or those closer to desirable amenities can go up to $280/sq ft, while homes farther out or older may average $190–$210/sq ft.
First-Time Buyers: What to Expect
If you’re entering the market for the first time, you’ll typically find entry-level homes priced between $350,000 and $400,000. Great starter-home areas include parts of North Spokane, Hillyard, and some pockets of Spokane Valley. Getting pre-approved for a mortgage is more important than ever, as competition remains high, especially within this price range.
Luxury Homes in Spokane: What You Get for $750K+
For buyers with bigger budgets, luxury homes in Spokane offer features like expansive lots, modern design, smart-home integration, and mountain views. These are often found in areas like Manito, Eagle Ridge, and Five Mile Prairie. Some properties include acreage, custom pools, and private gated access.
Hidden Costs of Buying a Home in Spokane
Beyond the sale price, be prepared for the following costs:
Closing Costs: Typically 2–4% of the home price
Home Inspections: Around $500–$800
HOA Fees: Vary by community, averaging $100–$250/month
Property Taxes: Roughly 1.1% of assessed value annually
These costs can add up, so budgeting accordingly is essential.
Market Trends Influencing Spokane Home Prices in 2025
Key trends impacting local pricing include:
Remote Work: Still encouraging out-of-state migration
Interest Rates: Slightly higher than the all-time average, but still steady
Development Projects: New infrastructure and shopping centers are raising property values in key zones
These elements continue to shape the local housing landscape.
Comparing Spokane to Other Washington Cities
Spokane offers tremendous value compared to Seattle, where average home prices are nearing $900,000. Even compared to cities like Tacoma and Bellevue, Spokane remains affordable with a higher quality-of-life-to-cost ratio. The lower cost of living and lack of state income tax further amplify its appeal.
Is Spokane a Good Investment in 2025?
Absolutely. Spokane's consistent population growth, job market expansion, and livability make it an attractive place for investors. Homes in desirable neighborhoods or near universities are especially popular in the rental market. Analysts predict continued appreciation over the next five years.
How to Find the Best Deals in Spokane
To land the best deals, consider:
Off-Market Properties: These can often be found through networking or an experienced real estate agent
Seasonal Timing: Late fall and winter typically offer better prices
Auction Properties: Occasionally listed through county websites or local banks
The Buying Process in Spokane
Get Pre-Approved
Hire a Local Agent (That's Me)
Home Search & Tour
Make an Offer
Inspection & Appraisal
Close and Get the Keys!
The process usually takes 30–45 days from offer to close.
Tips for Out-of-State Buyers
If you're relocating, take advantage of:
Virtual Showings
Digital Contracts
Remote Closings
Hiring a Spokane-based real estate agent can help you avoid costly mistakes and give you insight into neighborhoods you may not know about.
Working with a Spokane Real Estate Agent
With market knowledge, negotiation skills, and neighborhood insight, a local agent makes the process smoother and more efficient. As a Spokane real estate agent, I offer personalized support, buying/selling insights, and local expertise to help you find a home that meets both your needs and your budget.
Conclusion
Spokane remains one of Washington’s most affordable and promising housing markets in 2025. From starter homes to luxury estates, there’s something for every buyer. With prices rising steadily but still accessible, now may be the perfect time to enter the market. If you're wondering how much do homes cost in Spokane, let's talk about your specific goals and how I can help you secure the right home at the right price.
FAQs
What is the average home price in Spokane in 2025? About $400,000, depending on the location and home type.
Which neighborhood in Spokane offers the best value for money? North Spokane and parts of Spokane Valley offer excellent value in 2025.
Are home prices in Spokane expected to rise in the next few years? Yes, steady appreciation is expected thanks to demand, economic growth, and livability.
What should first-time buyers know about the Spokane market? Prepare for competition, get pre-approved, and work with a local agent to find affordable areas.
How do I start the buying process with a Spokane real estate agent? Contact me to begin with a personalized consultation and home search strategy tailored to your needs.
About Me
My name is Nick Briggs
Being born and raised in Spokane I grew up knowing what a special place this city is, and it was my dream to help others create a life in this wonderful community by guiding them in real estate. I spent many years in the customer service industry, the experience of listening and communication showed me how much I truly loved helping people. I attended Gonzaga University and earned a Bachelor’s Degree in Business Administration to add to my knowledge of guiding, managing, negotiating, and listening to individuals, helping them achieve their real estate goals.
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