Spokane Housing Market Forecast 2026: Trends & Predictions
- Nick Briggs
- 6 days ago
- 6 min read
Introduction: The Road Ahead in 2026
Thinking about buying or selling a home in the Spokane market but unsure what the near future holds? With the local market shifting gears after several years of momentum, now is the time to understand what’s coming. In this blog you’ll learn how inventory, prices, interest rates and market‑pace are expected to evolve in the Spokane area and how that impacts your next move. As a Spokane real estate agent, I’ve helped buyers and sellers navigate changing markets — which is why I put together this local housing forecast for 2026.
Table of Contents
Market Overview: Is Spokane a Buyer’s or Seller’s Market in 2026?
The local market in the Spokane region is gradually transitioning from a strong seller’s market into a more balanced environment. According to the latest data, there are roughly 1,416 active listings, marking a 36.5% increase year‑over‑year, which signals a significant rise in supply. Inventory based on closed sales stands at about 3.5 months—a classic indicator that the market is shifting toward neutral, since 3 to 6 months of inventory typically means neither extreme seller’s nor buyer’s advantage.
This means for 2026 you should anticipate fewer bidding wars, more room for negotiation, and somewhat slower transaction pace. For buyers, that translates to more options and more time. For sellers, it means pricing, presentation and timing are more important than ever.
Inventory Snapshot: What Rising Supply Means for You
Inventory has increased meaningfully—active listings are up 36.5% YoY—which is material for how buyers and sellers will act in 2026. With about 3.5 months of supply, Spokane is sitting firmly in the “neutral” zone rather than extreme seller advantage. That said, we are not deep into a buyer’s market yet; the forecast calls for inventory to perhaps rise another 5–10% as demand remains healthy.
What this means in practice:
Buyers: More choice, less urgency, opportunity to negotiate.
Sellers: Still demand exists, but the race for best price means you’ll want to be strategic on timing and home‑condition.
Inventory increases generally slow appreciation, so we may see more modest price gains in 2026.
For a deeper dive into inventory data, see my post on:
Price Trends: Where Spokane Home Values Are Headed
Here’s a snapshot of price data:
Median sold price: $429,000, up about 2.1% year‑over‑year.
Average price per square foot: ~$212, up ~2.4% from the year prior.
The average sold price ($474,000) is showing some short‑term volatility, including a ~3.3% decline compared to the prior month.
Looking ahead to 2026, the forecast is for modest growth of 0% to +3% in home values—reflecting a mature, balanced market rather than the rapid appreciation of earlier years.
Key takeaways:
Growth will be slower—but stability is positive, especially if you’re buying.
Sellers should moderate expectations; pricing competitively will be essential.
Buyers may find better value and less competition, though affordability remains a concern.
For more on value trends over time, check out:
Interest Rate Forecast: Relief in Sight
Mortgage rates are a major driver of housing affordability and market activity. The expectation for 2026 is that 30‑year fixed rates will average somewhere in the 5.9% to 6.1% range—down from the ~7% highs seen in 2023‑24. While that isn’t a return to the ultra‑low rates of the pandemic era, it does signal more breathing room for buyers and less pressure on sellers.
Why this matters:
Lower rates help first‑time buyers or buyers re‑entering the market.
Some homeowners may return (“move‑up” or “right‑size”) if their financing becomes more manageable.
The combination of better rates + higher inventory = buyers gaining modest leverage.
See my deeper discussion of rate impacts in:
Days on Market & Buyer Behavior
The average days on market (DOM) in Spokane recently sits around 32–35 days, which is up slightly from prior years and indicates a moderation in the pace of sales. For 2026, the forecast would suggest DOM comfortable in the 30–45 day range on average.
Implications:
Buyers: More time to evaluate homes and make better decisions.
Sellers: Speed is no longer the dominant metric—strategic preparation matters more.
Pricing, condition and marketing will all become more important to stand out.
For context on speed and competition in recent years, check out:
What This Means for Spokane Buyers & Sellers
For Buyers:
You’ll likely find more options, less hyper‑competition, and more negotiation room in 2026.
With improved—but still elevated—rates, factoring in long‑term affordability is key.
Work with a Realtor who knows the neighborhoods, inventory trends and how to make a compelling offer.
For Sellers:
The market still works—but you’d benefit from being realistic on price, quick on presentation, and flexible in terms.
Expect fewer “above list price” bidding wars and more offer comparisons.
Partnering with an experienced local Realtor can help you position your property for optimal results.
As your trusted Spokane real estate agent, I’m here to guide you through either scenario—whether you’re buying, selling or just staying informed.
Deeper Local Market Insights
To deepen your knowledge, I recommend exploring the following cluster posts:
These will provide hyper‑local insights that complement this broader 2026 forecast and help you with neighborhood‑specific strategies.
FAQs: Spokane Housing Market Forecast Questions Answered
Is the Spokane housing market going to crash in 2026? No—based on current data and local forecasts, the market is heading toward stability, not collapse. Inventory is rising, prices are seeing modest growth of 0%‑3%, and days on market are increasing. None of this signals a crash.
What will Spokane home prices look like in 2026? The forecast calls for median sold home‑price growth in the 0%‑3% range. Given the current median of ~$429,000, that suggests modest appreciation rather than dramatic swings.
Will 2026 be a good year to buy a home in Spokane? Yes. More inventory, pricing discipline, and slightly better rate outlook make it a favorable environment for buyers compared to the tight conditions of recent years. However, affordability still matters, so strategic timing and expert guidance are important.
Is Spokane a buyer’s or seller’s market in 2026? It’s a balanced market, leaning slightly toward buyers compared to previous years. With ~3.5 months of inventory and rising supply, buyers have more leverage—but sellers who price and prepare well will still succeed.
How long will it take to sell a home in Spokane in 2026? Average days on market are forecast to fall in the 30‑45 day range—slower than the lightning pace of the frenzy years, but still reasonable. Sellers should plan for preparation and marketing rather than assuming immediate offers.
Final Thoughts
In summary: The Spokane housing market in 2026 is shaping up to be steady, well‑balanced, and more predictable than the rapid‑appreciation era we’ve just come through. With increased inventory, moderate price growth, and slightly improved financing conditions, both buyers and sellers can find opportunity—provided they act intelligently.
If you’re thinking of buying or selling in Spokane next year, I’d love to help you assess your options and build a winning strategy. Reach out today for a free home valuation or a conversation about your goals and how the 2026 market forecast applies to you.
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.
