Spokane home sales remain solid in March

March residential sales activity in Spokane showed a healthy increase over February. March closed sales reported to the Spokane Association of REALTORS® Multiple Listing Service totaled 653, surpassing the March 2005 total of 618 by 35 sales.

•The average sales price for March of $180,325 was down from February’s average sales price of $184,496. The median sales price for March was unchanged from February at $165,000.

•Sales of new homes rose to 132 in March, an increase of 59 new homes from March 2005. The average sales price of new homes in March was $241,325, a 15.4-percent increase from the average sales price of new homes in March 2005 of $209,656.

•Year-to-date figures for the first quarter of 2006 reveal that sales are tracking 4 percent ahead of sales for the first quarter of 2005 with the average sales price up by 25.1 percent and the median sales price up 27.8 percent.

•The inventory of homes for sale in March increased from March 2005 by 315 homes.