Home Values

Spokane Metro Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$163,400

  • 1.7% 1-year change
  • 3.4% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this metro relative to other metros across the US. A particular metro may be identified as a good market for buyers in a national market favorable to sellers overall. Learn more

Warm

Buyers' Market
Sellers' Market

The median home value in Spokane Metro is $163,400. Spokane Metro home values have gone up 1.7% over the past year and Zillow predicts they will rise 3.4% within the next year. The median list price per square foot in Spokane Metro is None. The median rent price in Spokane Metro is $825, which is lower than the Washington median of $1,455.

Foreclosures will be a factor impacting home values in the next several years. In Spokane Metro 4.6 homes are foreclosed (per 10,000). This is greater than the Washington value of 4.2 and also greater than the national value of 3.0

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Spokane Metro is 4.7%, which is lower than the national value of 6.3%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Spokane Metro homeowners underwater on their mortgage is 18.6%, which is higher than Washington at 16.1%.

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Relative ZHVI
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Spokane Metro Market Overview

Data through Mar 31, 2015
  • $163,400 ZHVI
  • 3.4% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Mar 31, 2016)
  • No data Median listing price
  • $179,660 Median sale price
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Spokane Metro Market Health

Data through Mar 31, 2015
  • 3.2/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
    (Feb 28, 2015)
  • 124 Average days on Zillow (Feb 28, 2015)
  • 18.6% Homes with negative equity (16.9% US Avg) (Dec 31, 2014)
  • 4.7% Delinquent on mortgage (6.3% US Avg) (Dec 31, 2014)

Homes foreclosed (per 10,000)

4.6 homes Spokane Metro
4.2 homes Washington
3 homes United States
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Cities in Spokane Metro

Name Median ZHVI
Colbert $252,900
Liberty Lake $249,900
Mead $213,400
Name Median ZHVI
Fairwood $197,000
Deer Park $175,300
Medical Lake $162,700
Name Median ZHVI
Cheney $162,000
Spokane Valley $153,300
Spokane $128,000

Listings & Sales

Data through Mar 31, 2015
  • No recent data Median list price / sq ft
  • $122 Median sale price / sq ft
  • No data Listings with price cut
20.9%
Sold below listing
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Spokane Metro Rentals

Data through Mar 31, 2015
  • Zillow Rent Index

  • $1,185 Spokane Metro
    $1,541 Washington
    $1,362 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.6 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $825 Rent list price
  • $0.82 Rent list price / sq ft
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