I’ve been watching inventory trends in the Spokane Valley for several weeks. By far the most bloated price range is $175,000 to $199,000 with a whopping 17.5% of all the listings in the Spokane Valley packed into this one price range.
This happens to be a pretty hot price range for First Time Buyers so this “bloat” only equates to 8.7 months of inventory only slightly higher than the Spokane Valley’s 7.2 overall average. Sellers in the 175-199k price range can expect to spend an average of 119 days on the market (2 days shorter than the Spokane Valley’s average). If you happen to be a seller in this price range, consider a price drop below $185,000 as the bulk of the sold homes this year in that price range have sold below 185,000.
What about other price ranges? The Spokane Valley has a few “troubled” ranges with 20+ months of inventory sitting on the books. Most price ranges over $375,000 have 18 months or more of inventory – some could not even be calculated. If you are in these price ranges – don’t worry – buyers are still out there, but they want the same for less or MORE for the same. Now more than ever it’s important to highlight the key features of your home and in some cases get your price down some to show value to potential buyers. Regardless – you will spend a little longer on the market than average, but if you price your home with the market and your home is marketed correctly, you will sell.
Do you have a Spokane Valley Home you’d like evaluated? We have a GREAT MARKETING PLAN, and would love an opportunity to show you what we can do. Set up an appointment here. Don’t worry if you’re looking to Buy a Spokane Valley Home For Sale we have a site for you too!