Home Values

Spokane 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

$134,600

  • 2.8% 1-year change
  • 3.5% 1-year forecast

The median home value in Spokane is $134,600. Spokane home values have gone up 2.8% over the past year and Zillow predicts they will rise 3.5% within the next year. The median list price per square foot in Spokane is $118, which is lower than the Spokane Metro average of $125. The median price of homes currently listed in Spokane is $139,999 while the median price of homes that sold is $151,165. The median rent price in Spokane is $795, which is lower than the Spokane Metro median of $825.

Foreclosures will be a factor impacting home values in the next several years. In Spokane 6.8 homes are foreclosed (per 10,000). This is greater than the Spokane Metro value of 6.2 and also greater than the national value of 3.9

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 is 4.9%, 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 homeowners underwater on their mortgage is 19.9%, which is higher than Spokane Metro at 18.6%.

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Relative ZHVI
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Spokane Market Overview

Data through Feb 28, 2015
  • $134,600 ZHVI
  • 3.5% 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
    (Feb 29, 2016)
  • $139,999 Median listing price
  • $151,165 Median sale price
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Spokane Market Health

Data through Feb 28, 2015
  • 3.1/10 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.
  • No data Average days on Zillow
  • 19.9% Homes with negative equity (16.9% US Avg) (Dec 31, 2014)
  • 4.9% Delinquent on mortgage (6.3% US Avg) (Dec 31, 2014)

Homes foreclosed (per 10,000)

6.8 homes Spokane
6.2 homes Spokane Metro
3.9 homes United States
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Neighborhoods in Spokane

Name Median ZHVI
Rockwood $247,800
Manito-Cannon Hill $215,900
Cliff-Cannon $155,900
Name Median ZHVI
North Hill $115,600
East Central $108,900
Logan $105,100
Name Median ZHVI
Emerson-Garfield $104,300
West Central $96,200
Bemiss $96,100

Listings & Sales

Data through Feb 28, 2015
  • $118 Median list price / sq ft
  • $116 Median sale price / sq ft
  • 13.1% Listings with price cut
23.0%
Sold below listing
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Spokane Rentals

Data through Feb 28, 2015
  • Zillow Rent Index

  • $959 Spokane
    $1,163 Spokane Metro
    $1,355 United States

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

  • 2.4 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $795 Rent list price
  • $0.83 Rent list price / sq ft
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