Are home prices dropping in Spokane?

In December 2022, Spokane home prices were down 5.7% compared to last year, selling for a median price of $330K. On average, homes in Spokane sell after 30 days on the market compared to 11 days last year. There were 210 homes sold in December this year, down from 425 last year.

Introduction

Spokane, Washington is a great place to buy real estate. The city is known for its beautiful scenery, great schools, and a vibrant economy. With a population of over 200,000 people, Spokane is a great place to invest in real estate. Whether you’re looking for a single-family home, an apartment, or an investment property, there are plenty of options available in Spokane. In this article, we’ll take a look at some of the reasons why Spokane is a great place to invest in real estate.

Benefits of Investing in Real Estate in Spokane

Low Cost of Living

Spokane has a low cost of living compared to other cities in the US. This means that you can get more for your money when it comes to buying real estate in Spokane. The median home price in Spokane is around $220,000, which is much lower than other cities in the US. Additionally, property taxes are also lower in Spokane than in other cities.

Excellent Schools

Spokane has some of the best schools in the state of Washington. There are a variety of public and private schools available for students of all ages. This makes Spokane a great place to invest in real estate if you have children or plan to start a family in the future.

Vibrant Economy

Spokane has a thriving economy with a variety of industries and businesses. The city is home to major employers such as Boeing, Microsoft, and Amazon, as well as smaller companies and startups. This means that there are plenty of job opportunities available for those looking to move to Spokane.

FAQs

What is the median home price in Spokane?
The median home price in Spokane is around $220,000.

Are there good schools in Spokane?
Yes, there are a variety of public and private schools available for students of all ages in Spokane.

What type of jobs are available in Spokane?
Spokane has a thriving economy with a variety of industries and businesses. Major employers such as Boeing, Microsoft, and Amazon are located in the city, as well as smaller companies and startups.

Conclusion

Spokane is a great place to invest in real estate due to its low cost of living, excellent schools, and vibrant economy. Whether you’re looking for a single-family home, an apartment, or an investment property, there are plenty of options available in Spokane. If you’re looking for an affordable place to live with plenty of job opportunities and great schools, then Spokane is the perfect place for you.