Spokane Housing Market: Year-in-Review
- Nick Briggs
- Oct 27
- 4 min read
Updated: 1 day ago
🏡 Spokane Housing Market Year in Review: A Look Back at 2025
In 2025, Spokane’s housing market made a definitive shift from high-speed seller conditions to a more balanced, stable environment. The year began with tight inventory and rising prices, but the most recent data shows inventory has more than doubled, pricing has leveled, and buyers have reentered the market with more confidence and less pressure.
As a longtime Spokane real estate agent, I created this year-in-review to guide local homeowners and buyers through these market changes and help you make more informed real estate decisions.
📊 Spokane Real Estate Market by the Numbers
Active Listings Surged in 2025
Inventory rose over 110%, climbing from around 960 to roughly 2,000 active listings. This change gives buyers more negotiating power and options than they’ve had in years.
Closed and Pending Sales Increased
Despite more choices, buyers are still acting. Closed sales are up about 50%, and pending sales rose by 25%, suggesting a healthy, functioning market with more opportunity and less urgency.
💲 Home Prices in Spokane: Appreciation Without Overheating
Median Sold Price Trends
At around $430,000, the median price has increased 5–6% since early 2025 but dipped slightly from spring highs. This trend reflects a stabilizing market, not a declining one — a good sign for long-term homeowners.
Average Price per Square Foot
Now averaging $220 per square foot, up nearly 4% from January. This slow but steady rise signals that buyers still believe in Spokane’s long-term housing value.
⏱️ How Fast Are Spokane Homes Selling?
Homes are currently selling in about 33 days, which is 21% faster than earlier in the year. In-demand homes — especially in the $350K–$500K range — continue to sell quickly if priced appropriately and marketed effectively.
💰 What Homes Are Really Selling For
Sale-to-List Price Ratio
The average home is selling for 96% of its original list price — slightly lower than earlier in the year when bidding wars were common. This signals more balanced negotiations, where buyers are not rushing in, and sellers need realistic pricing to stay competitive.
🏘️ Inventory and Absorption — A More Predictable Market
With 3.5 to 4 months of inventory, Spokane now sits comfortably in a neutral market. Absorption has slowed slightly but remains healthy — a far cry from the frantic pace of previous years.
This is good news for both sides: sellers can still get strong offers, and buyers have time to think and compare before making a decision.
📈 Spokane Market Snapshot: Then vs. Now
🔍 5 Key Insights from the Spokane Housing Market in 2025
1. Balance Has Returned
Sellers and buyers now operate on more even footing. With supply and demand better matched, the Spokane market is less volatile and more predictable for everyone involved.
2. Prices Have Stabilized, Not Declined
While price growth has slowed, there’s no sign of depreciation. This reflects market maturity, not weakness.
3. Sellers Need a Smarter Strategy
Overpricing is no longer an option. Homes must be priced precisely and presented professionally to stand out.
4. Buyers Are Regaining Confidence
Less competition and more inventory have brought buyers back into the market. Many are finding opportunities they missed out on in previous years.
5. What 2026 Could Bring
If mortgage rates drop, buyer activity may rise and appreciation could resume. If rates hold or rise, expect continued stability with solid but not soaring prices.
📌 Spokane Homeowner Tips for 2026
Price to the market — not to old peak pricing
Invest in presentation — clean, stage, and photograph professionally
Highlight value — location, upgrades, energy efficiency
Know your audience — today’s buyers are selective and prepared
🙋 FAQs About the Spokane Housing Market Year in Review
What does a balanced Spokane housing market mean in 2025? It means inventory is around 3–4 months, creating a market where neither side dominates. Homes are still selling, but buyers have more time and power to negotiate.
Are Spokane home prices going up or down in 2025? Home prices are up about 5–6% compared to earlier in the year, but they’ve stabilized since the spring peak — indicating a normal and healthy market.
Is now a good time to sell my house in Spokane? Yes, especially if your home is well-prepared and priced accurately. Homes are still moving quickly in the right price ranges.
How long are homes taking to sell in Spokane this year? The average home is selling in about 33 days, which is faster than earlier this year. Homes priced between $350K–$500K typically move the quickest.
🧭 Final Thoughts: Spokane Real Estate in 2025
The Spokane housing market year in review reveals a story of growth, correction, and stability. Inventory surged, pricing calmed, and homes are still changing hands — just at a healthier pace than in years past.
If you’re planning to buy or sell in Spokane, this new environment offers clarity, opportunity, and balance. As your trusted Spokane real estate agent, I’m here to guide you with local insight, strategy, and results. Let’s talk about your goals and how we can make them happen.
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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