Five Star Spokane Reports July 2014 Real Estate Market Numbers Are Up

SPOKANE, Wash. - Aug. 13, 2014 - PRLog -- Veteran realtors, Cindy Carrigan and Doc Nicolson of Five Star Spokane Group share the latest statistics from the Spokane Association of REALTORS® July 2014 YEAR TO DATE HOME SALES REPORT. July was “another best in the last seven years” according to the report. July saw 626 closed sales of single-family homes on less than one acre including condos. Last month 600 homes were reported sold. July had a 4.3% increase in closed sales compared to June. The average sales price for July was $186,627, slightly lower than June’s average sales price of $187,627. Cindy Carrigan, Team Leader for Five Star Spokane Group of Keller Williams, and Doc Nicolson, Five Star’s Managing Broker, continue their optimism toward the 2014 real estate market. The inventory of single-family homes on less than one acre including condominiums increased to 2,918 compared to 2,811 last month, up 3.8%. Inventory is the same as last year at this time. Although, new construction sales lag behind last year with inventory down 13.7%.

Carrigan and Nicolson report that according to the Spokane Association of REALTORS® Market Analysis, many areas of indexing are UP for 2014. Sales of single-family homes on less than one acre including condominiums are UP 1%. While the Average Price is FLAT, the Median Price is UP 2.3%. The Median Closed Price for July 2014 was $169,800 UP 2.3% from July 2013 when the median price was $166,000. Distressed Sales are down 12.1% over last year, another good indicator of a recovering real estate market.

ABOUT: Cindy Carrigan, Team Leader, and Doc Nicolson, Managing Broker, lead Five Star Spokane Group of Keller Williams. Five Star Spokane Group is comprised of professional real estate agents with decades of collective experience and enjoy offering Five Star Service to their clients. Contact them today for all your Real Estate needs.  http://www.fivestarspokane.com/about-us/contact-us/