The residential numbers are in… and they look good.
June proved successful. The average closed sale price jumped over $6,000 to $219,829.47 the largest jump since March to April. Is this a sign of things to come for the rest of the summer season?
Transactions are also up 123 to 750 for the month of June.
The only number that slipped was the Sold to List % dropped 8/100ths of a percent making June the third best month for sellers behind April & May 2008.
I recently decided to tear down the builder supplied deck that was virtually falling off of my house and erect a much larger composite deck. I’ll be the first to admit that I’m not the handyman around the house, and my skills are better used cleaning up the debris from construction rather than actually constructing, but I decided to take this one on myself.
I did a little research. Code has changed a lot in the 7 years since my home was built and the deck originally fastened so I thought I’d find out the right way to do it.
Spokane County has a great resource that helps even a novice handyman (like myself) determine the materials and support methods needed for a basic deck. Simple diagrams and charts (yes, they had to draw me a picture) made it easy for me to determin what I needed.
I’d like to give a shout out to Steve Pirtle of Foundations and Up Home Inspections (509) 954-5922 for spending a weekend helping me build my new desk.
Tags: How To by Spokane Home Guy (509) 990-7653 Comments
Looking at the data from Closed Sales January through May, I’m seeing that prices are holding firm and sellers on average are getting between 97% and 98.5% of their asking price. Granted, this does not account for any price reductions and time on market, but what it does tell us is that when a property is priced correctly, Spokane buyers will pay the price. Pricing is very important.
Our best month for closed transactions (Jan-May) was March with 978 closed transactions, but March was also the lowest average price per transaction at just over 200k. Since then the transactions have leveled out to between 559 and 627 and the average transaction price has climbed between 209k and 213k.
Sellers gave up more in January and March taking home between 97.12% and 97.6% of their asking price. May was considerably better with 98.39% (a couple thousand dollars based on the average sale price).
For a graphical review of this report, click here.
