Spokane real estate markets top Seattle | national news
(The Center Square) – The cities of Spokane and Spokane Valley in Washington state were ranked # 3 in Realtor.com’s list of “Top 10 housing markets for 2022Ahead of the Seattle-Tacoma-Bellevue region, ranked # 8 on the list.
Spokane and Spokane Valley – the largest suburb of Spokane – rank behind No.1 Salt Lake City, Utah and No.2 Boise, Idaho. According to statistics from Realtor.com, Spokane has a median home price of $ 419,803 with an increase in home price change of 7.7% and an increase in sales change of 12.8%, for a combined sales and price growth of 20.5%.
The Santa Clara, California-based real estate listings website cited several reasons for Spokane’s high ranking, including an abundance of waterfront activities and sunnier weather compared to Seattle. Spokane was also seen as an attractive destination in terms of easy access to amenities, restaurants and nightlife in downtown areas like Riverside.
Even with Spokane’s vibrant real estate market, it remains relatively more affordable than other cities in the state, such as Seattle and Tacoma, noted Realtor.com.
The median price of homes in the Seattle-Tacoma-Bellevue area is $ 666,754, Realtor.com reported, with home price change increasing 7.5% and sales change increasing by 9.6%, for a combined growth in sales and prices of 17.1%.
Realtor.com described Seattle as having an âabove average cost of livingâ. He mentions an influx of Californians and the city is home to big companies such as Amazon, Starbucks, and Expedia.
The website described Spokane as an “attractive option” for young families, especially those who move in after graduating from universities such as Gonzaga or Whitworth.
Realtor.com also praised Spokane for its concentration of top public schools, such as Libby Center and Wilson Elementary.
“People are finding out what those who live in Spokane already know about the quality of life available professionally and personally,” said Brian Coddington, Spokane’s director of communications and marketing, in an email to The Center Square. âThe pandemic has highlighted some of these considerations and the possibilities for remote working arrangements make mid-sized cities even more attractive. We are focused on the continuous improvement of inventory at all levels of the market to keep entry and ramping up. “
Its assessment is supported by a recent report published by the National Association of Realtors which ranked Spokane and Spokane Valley among the top 10 markets that have shown resilience during the pandemic, with the association expecting both cities to perform well in a “post-COVID environment -19 “. Spokane is the third most attractive destination for West Coast movers, according to the report, just behind Phoenix, Arizona and Dallas, Texas.