Spokane Housing Market: Year-in-Review
- Nick Briggs
- May 8
- 4 min read
🏡 Spokane Housing Market Year in Review: A Look Back at 2025
As Spokane moves deeper into 2026, the housing market has clearly transitioned away from the extreme seller frenzy of previous years and into a more competitive—but still seller-leaning—environment. Inventory has risen significantly, buyers have more options, and pricing has stabilized overall. At the same time, buyer activity has strengthened again heading into the spring and summer market.
As a longtime Spokane real estate agent, I created this Spokane housing market year in review to help buyers, sellers, and homeowners better understand how Spokane real estate has changed over the past year and where the market may be heading next. The following statistics are based on Spokane County as a whole to provide the broadest and most accurate local market snapshot.
📊 Spokane Real Estate Market by the Numbers
Active Listings Continue Rising
Inventory has increased significantly over the past year, with approximately 1,478 active listings currently on the market in Spokane County. That represents a 24.3% increase year-over-year and a 14.5% increase month-over-month. Buyers now have substantially more choices than they did during the ultra-competitive low-inventory years.
Pending Activity Is Strengthening Again
While inventory has increased, buyer demand remains active. Pending activity has improved month-over-month, signaling stronger spring and summer momentum. Closed sales continue trailing real-time activity slightly, which is normal because closed data always lags behind pending contracts.
💲 Spokane Home Prices: Stabilizing After Rapid Growth
Median Sold Price Trends
The current median sold price in Spokane County sits at $430,000, up 1.2% month-over-month but down 2.3% year-over-year. This reflects a market that is stabilizing overall rather than rapidly appreciating like previous years.
For homeowners, this is generally a healthy sign. The market is no longer seeing unsustainable price spikes, but pricing remains supported by continued buyer demand and seller-market inventory levels.
⏱️ How Fast Are Spokane Homes Selling?
Homes in Spokane County are currently averaging approximately 35 days on market, a major improvement month-over-month as buyer activity accelerates heading into peak season.
Well-priced homes—especially updated homes in desirable neighborhoods and competitive price ranges—are often selling significantly faster than the average.
💰 What Homes Are Really Selling For
Sale-to-List Price Ratio
The average Spokane home is currently selling for approximately 98% of its original list price.
This shows sellers still maintain leverage overall, though buyers now have more room to negotiate compared to peak bidding-war conditions. Overpricing is no longer forgiven the way it was during the height of the seller frenzy.
🏘️ Inventory and Absorption: A More Competitive Seller’s Market
With approximately 2.8 months of inventory, Spokane remains firmly in a seller’s market, not a neutral market.
However, rising inventory has created more competition among sellers and more choices for buyers. Pending absorption remains strong, showing buyers are actively absorbing inventory despite increased supply.
This creates a healthier market overall:
Sellers still have leverage
Buyers have more time and options
Pricing strategy matters more than ever
📈 Spokane Market Snapshot: Then vs. Now
Metric | Earlier Market | Most Recent | Change | Insight |
Active Listings | ~1,190 | ~1,478 | +24.3% YoY | More buyer options |
Median Sold Price | $425K | $430K | +1.2% MoM | Stabilizing prices |
Avg Price/SqFt | $216 | $219 | +0.9% MoM | Stable pricing |
Avg Days on Market | 45 | 35 | -22.2% MoM | Faster market activity |
Months of Inventory | 2.9 | 2.8 | Slight decline | Seller’s market remains |
🔍 5 Key Insights from the Spokane Housing Market in 2026
1. Seller Conditions Still Exist
Inventory has increased substantially, but Spokane remains a seller’s market with strong pending activity and improving market speed.
2. Pricing Is Stabilizing
Price growth has slowed compared to peak appreciation years, but month-over-month improvements show stronger activity returning to the market.
3. Sellers Need Smarter Pricing Strategy
Overpricing is no longer an option. Buyers now compare more inventory and negotiate more aggressively when homes appear overpriced or poorly presented.
4. Buyers Have More Opportunity
Buyers now have more choices than during previous years while still competing for desirable, well-priced homes.
5. Spokane’s Market Momentum Is Improving
As buyer activity strengthens through spring and summer, Spokane is seeing faster market speeds and stronger absorption despite higher inventory levels.
📌 Spokane Homeowner Tips for 2026
Price to today’s market — not past peak pricing
Invest in presentation — clean, stage, and market professionally
Highlight value — upgrades, location, and energy efficiency matter
Understand competition — buyers are comparing more homes than before
Generate momentum early — the first 1–2 weeks on market are critical
🙋 FAQs About the Spokane Housing Market Year in Review
What does Spokane’s current housing market mean in 2026?
Spokane remains a seller’s market, though rising inventory has created more competition and improved buyer selection compared to previous years.
Are Spokane home prices going up or down in 2026?
Spokane pricing has stabilized overall. While some year-over-year softness exists, month-over-month improvements show stronger buyer activity returning.
Is now a good time to sell my house in Spokane?
Yes—especially if your home is properly prepared, priced strategically, and marketed effectively. Well-positioned homes are still selling quickly and close to asking price. How long are homes taking to sell in Spokane?
Homes are currently averaging about 35 days on market, though desirable homes in strong price ranges often move significantly faster.
🧭 Final Thoughts: Spokane Real Estate in 2025
The Spokane housing market year in review reveals a market shifting away from extreme seller conditions into a more competitive—but still seller-leaning—environment. Inventory has risen, buyers have regained options, and pricing has stabilized while market activity strengthens again.
For buyers and sellers alike, this creates more opportunity, flexibility, and predictability than the chaotic conditions of previous years.
As your trusted Spokane real estate agent, I help buyers and sellers navigate Spokane’s changing market using real local data, strategic pricing, and proven negotiation experience.
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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