Historical City of Spokane Home Prices 1996 to present
February 10, 2011 1 Comment
Just a stupid guess but suspect the average will drop to near $110,000 which would be a 31% drop from the peak in 2006.
- Anyone who bought a home since about 2004 (after real estate commissions if they sold today) will likely have lost money.
- Anyone who bought a home since the mid-1990s and put an additional 20-25% or so into home improvements or repair has also likely lost money on Spokane real estate.
- Update: Using Zillow.com and maps.spokanecounty.org, I found many homes that have dropped by 25% to 35% since their peak valuation. My home is down 31% from its peak estimated valuation. I found a small number of homes in the area that lost half of their estimated peak value. I also found properties owned by builders/developers on which no property taxes have been paid for years. Presumably, the builder/developer is on the verge of bankruptcy.
Normal chart view which accentuates the price changes:
View using zero-based chart: