Spokane Home Values: 5-Year Trend & What It Means
- Nick Briggs
- Oct 27
- 4 min read
Updated: 3 days ago
Understanding how Spokane home values have shifted over the past five years can make all the difference in your real estate decisions today. Whether you’re thinking about selling or simply staying informed, the data tells a clear story. As a Spokane real estate agent, I’m writing this to guide local homeowners through these important market shifts and to show you the Spokane home values trend.
How Have Spokane Home Values Changed Since 2020?
The Spokane housing market has evolved significantly in the past five years:
Median Sold Price: Up from $310,000 in 2020 to $429,000 in 2025 — a 38.4% increase.
Average Price per Square Foot: Increased from $154 to $212, a 37.7% gain.
Spokane homes have steadily appreciated, although the rate of increase has started to cool.
These numbers reflect strong demand and a stabilizing trend heading into 2026.
What’s Driving the Spokane Home Values Trend in 2025?
Several key factors are shaping the Spokane home values trend this year:
Housing Inventory Surge: Listings rose from 825 homes in 2020 to 1,416 in 2025. Buyers have more options, putting downward pressure on aggressive pricing.
Market Type: We've shifted from a seller’s market to a neutral market in 2025, meaning buyers and sellers are on more equal footing.
Buyer Behavior: Cautious optimism defines today’s market. Buyers are more selective, often taking their time before making offers.
These dynamics suggest that price appreciation is slowing — but not declining — which is key for sellers to understand.
Are Spokane Homes Appreciating or Stabilizing in 2025?
The latest housing data points to moderate appreciation in Spokane:
Median Price YoY: Up 2.1% compared to 2024
Price per Square Foot YoY: Up 2.4%
Monthly Trend: Holding steady with a 1% increase from the previous month
We’re in a neutral price trend — meaning prices aren't climbing rapidly, but they’re not falling either. This makes timing, preparation, and pricing strategy essential when listing.
How Long Are Homes Taking to Sell in 2025?
Days on market (DOM) has nearly doubled compared to five years ago:
2020: Homes sold in just 17 days
2025: Average DOM is now 32 days, up 88.2%
And the original list-to-sale price ratio has dropped from 101% to 96%, meaning most sellers aren’t getting over-asking anymore.
🔍 Seller Tip: 3 Smart Pricing Moves in a Neutral Market
Price based on comparable sold homes, not active listings
Don’t overprice expecting bidding wars
Use data to justify price during appraisal and negotiations
What This Means for Spokane Homeowners in 2025
If you’ve owned your home since 2020 or earlier, your property has likely gained slightly significant value. However, selling now requires:
Setting realistic expectations
Allowing for longer days on market
Pricing strategically to attract attention in a neutral market
I work with Spokane homeowners every day to craft listing plans based on actual local trends — not national headlines.
Why Work With a Local Spokane Real Estate Agent?
Spokane’s housing trends are hyperlocal — and they don’t always align with national patterns. Working with an agent who:
Understands your neighborhood’s pricing shifts
Knows how to attract today’s buyer
Can create a data-backed listing strategy
…is key to maximizing your sale. Let’s talk about how to apply Spokane’s market data to your specific home. Contact Me
Spokane Real Estate Tip: Use These Stats in Your Seller Plan
When planning your 2025 listing strategy, keep these Spokane-specific numbers handy:
Median Sold Price: $429,000
Inventory: 1,416 active listings
Average $/Sq Ft: $212
Average DOM: 32 days
Market Type: Neutral
Use this data to:
Choose the best time to list (avoid over-saturated weeks)
Price competitively to reduce time on market
Stage and market to appeal to 2025 buyer trends
Final Thoughts: What’s Next for Spokane Home Values?
Spokane is no longer in a fast-rising seller’s market. The current neutral trend means consistency, not volatility, is the story of 2025. While rapid appreciation may be behind us, smart sellers who understand today’s market can still succeed.
Want to talk strategy? Let’s make a plan tailored to your Spokane home.
FAQs About the Spokane Home Values Trend
What is the current Spokane home values trend in 2025? The market is showing signs of stabilization, with moderate YoY growth. Median prices are up to $429,000, and the average price per square foot is $212 — both slight increases from 2024.
How does the 2025 Spokane market compare to 5 years ago? Inventory is up dramatically, while homes are taking longer to sell. Price growth has slowed, marking a shift from a strong seller’s market to a neutral one.
Is 2025 a good time to sell my home in Spokane? Yes — if your pricing and presentation are strategic. Buyers have more choices, so a well-positioned listing stands out in a competitive field.
What should I know before listing my Spokane home in 2025? Expect 30+ days on the market, price competitively from day one, and work with a Spokane real estate agent who knows how to use local trends to your advantage.
📌 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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