Spokane Home Price Forecast: The Next 12 Months
- Nick Briggs
- May 7
- 4 min read
Understanding the Spokane Home Price Forecast
Spokane’s housing market is shifting gears. After years of rapid price appreciation, a more competitive and stabilizing seller’s market after years of rapid appreciation. While pricing has stabilized compared to peak appreciation years, buyer demand remains active and inventory continues rising. As a Spokane real estate agent, I’m writing this blog to help you understand where the market is headed so you can make confident, informed decisions whether you're buying, selling, or watching from the sidelines. The following market stats are based on Spokane County as a whole, as this provides a better, wider view of our local area. Here's your Spokane home price forecast:
What the Most Recent Data Tells Us
Home Prices Show Stabilization with Improving Activity
The median sold price in Spokane now sits at $430,000 — up 1.2% month-over-month but down 2.3% year-over-year. Meanwhile, the average sold price per square foot is $219 — up 0.9% month-over-month and down 1.4% year-over-year.
This suggests Spokane pricing has stabilized overall, with some short-term pressure still present as inventory rises. However, improving month-over-month trends and stronger pending activity show buyer demand is strengthening heading into peak season.
For sellers, this means pricing strategy matters more than ever. For buyers, it means opportunities still exist—but competition is increasing again on strong homes.
Inventory Is Rising — But Spokane Remains a Seller’s Market
Inventory continues increasing, with active listings up 24.3% year-over-year and 14.5% month-over-month. However, Spokane still sits at approximately 2.8 months of inventory, keeping the market firmly in seller territory—not neutral.
Buyers now have more choices than during peak low-inventory years, but desirable homes are still moving quickly when priced correctly.
Buyer Demand Is Strengthening Again
Buyer activity remains healthy, especially based on pending market data. Homes are averaging 35 days on market, down significantly month-over-month as the market accelerates heading into spring and summer.
Homes are also selling for approximately 98% of original list price, showing sellers still maintain leverage on well-positioned homes.
This means buyers still have opportunities—but hesitation is becoming riskier as activity increases.
Spokane Home Price Forecast: The Next 12 Months
Let’s break down the three likely scenarios shaping Spokane’s housing outlook:
Base Case (Most Likely): Modest Price Growth (+1% to +3%)
This is the most realistic scenario for the year ahead. Demand remains steady, and new construction continues to lag behind needs. These factors should support small gains in home prices, keeping Spokane in a stable and sustainable pricing environment supported by ongoing buyer demand and improving market activity:
You can expect value retention and slight growth
Strategic pricing and professional marketing are key
What this means for buyers:
Entering the market sooner could be beneficial before prices inch upward
Competition is more manageable than years past
Downside Scenario: Slight Price Decline (0% to -2%)
If mortgage rates rise again or affordability concerns intensify, Spokane could see a minor dip in home prices. However, a sharp correction remains unlikely due to ongoing demand and low vacancy rates.
Tip: This could be a temporary window for strategic buyers to act before demand rebounds.
(Not financial advice—consult with a lending professional for personalized insights.)
Upside Scenario (Unlikely): Moderate Appreciation (+4% to +5%)
If mortgage rates ease or inventory tightens again, buyers could return in stronger waves, driving up competition and values. This would most likely happen in early 2026.
Sellers who can strategically time the market may benefit from renewed upward momentum.
Advice for Spokane Buyers and Sellers in 2026
Sellers: Be Proactive and Smart
Price competitively, not aggressively
Enhance your home's curb appeal and condition
Work with a local Realtor who understands buyer psychology and Spokane-specific trends
Buyers: Be Strategic, Not Hesitant
Get pre-approved and understand your financing options
Don’t expect major discounts—but don’t rush either
Partner with a local expert who can help you negotiate and spot value
Why Work With a Spokane Real Estate Agent Now
As your trusted Spokane real estate agent, I can help you:
Navigate this shifting seller’s market confidently.
Price your home to attract strong offers
Negotiate favorable terms in both buying and selling
Understand timing, local demand pockets, and pricing trends
With so many changes ahead, working with someone who lives and breathes the Spokane housing market can make a huge difference in your success.
Spokane Home Price Forecast FAQs
What is the Spokane home price forecast for 2026? Current projections show modest price increases between +1% to +3% over the next 12 months, with an upside potential of +4% and a downside risk of -2% depending on interest rates and buyer activity.
Are home prices in Spokane expected to drop? A significant drop is unlikely. At most, prices might see a slight softening, but continued buyer demand and seller-market inventory levels should help prevent major declines.
Is 2026 a good time to sell my Spokane home? Yes—especially if you're strategic. Rising inventory means more competition, but well-prepared homes still sell well. A local Realtor can help you position your property for success in a seller’s market with rising inventory.
How will rising interest rates impact Spokane’s housing market? Higher rates could dampen affordability, causing a slowdown in buyer activity. However, Spokane’s affordability relative to other markets may soften this impact. (This is not financial advice—please speak with a mortgage professional.)
Conclusion: What’s Ahead for Spokane Home Prices
The Spokane housing market in 2026 is poised for stable and measured growth. With inventory climbing and buyer demand holding steady, we’re seeing a healthier, more sustainable path forward. Whether you’re considering selling, buying, or just keeping tabs on the market, now’s the time to prepare.
📌 Related Blog: Spokane Housing Market Forecast
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.
