Spokane Home Price Forecast: The Next 12 Months
- Nick Briggs
- Jun 22
- 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 Remain Resilient
The median sold price in Spokane County is now $450,000, up 4.7% month-over-month and 6.4% year-over-year. The average sold price sits at $498,000, up 4.4% month-over-month and down 3.9% year-over-year.
The average sold price per square foot remains at $219, unchanged month-over-month and down 2.2% year-over-year.
These numbers suggest Spokane's housing market remains stable overall, with healthy buyer demand supporting home values despite increased inventory and greater buyer choice.
For sellers, pricing strategy and presentation remain critical. For buyers, the market offers more opportunities than during the extreme seller-market conditions of recent years.
Inventory Has Increased and the Market Is More Balanced
Active listings have increased to approximately 1,773 homes, up 16.6% year-over-year and 13.7% month-over-month.
Spokane currently has approximately 3.0 months of inventory, placing the market in a neutral market environment rather than the strong seller's market conditions experienced previously.
Buyers now have more options and additional time to evaluate properties, while sellers must compete more directly on pricing, condition, and marketing.
Buyer Activity Remains Healthy
Homes are currently averaging 30 days on market, down 14.3% month-over-month but up 20% year-over-year.
Properties continue selling for approximately 98% of their original list price, demonstrating that well-priced homes still attract strong interest.
While buyers have gained leverage compared to previous years, quality homes in desirable locations continue moving efficiently through the market.
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 today's more balanced housing market confidently
Price your home strategically based on current Spokane data
Negotiate favorable terms whether buying or selling
Identify neighborhood-specific opportunities and trends
Create a customized strategy based on your goals and timing
Market conditions are changing, and local expertise can help you make better decisions in a more competitive environment.
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.
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