SPOKANE, Wash. — Spokane has been ranked No. 3 in Realtor.com’s list of Top 10 Housing Markets positioned for growth in 2022.
The Lilac City is ranked behind No. 1 Salt Lake City, Utah and No. 2 Boise, Idaho. According to Realtor.com’s statistics, Spokane is said to have a median home price of $419,803 with a home price change of +7.7%. Coupled with a +12.8% sales change, the combined sales and price growth for Spokane sits at +20.5%, according to Realtor.com.
Realtor.com cited various reasons for Spokane’s popularity within the housing market. According to the site, an abundance of waterfront activities and fairer weather than Seattle makes Spokane an attractive destination. In addition, residents have easy access to amenities, restaurants and nightlife in downtown areas like Riverside.
While Spokane’s housing market is rising, it is still relatively more affordable than other nearby cities in Washington state, such as Seattle and Tacoma.
Overall, Realtor.com described Spokane as an “attractive option” for young families, especially for those who are settling down after attending universities such as Gonzaga or Whitworth. The site also mentioned that Spokane had a concentration of well-ranked public schools, such as Libby Center and Wilson Elementary.
The National Association of Realtors recently ranked Spokane and Spokane Valley as one of the top 10 markets that showed resilience during the pandemic as well as the ones they expect to perform well in a “post-COVID-19 environment.” According to the association, Spokane is also the third most attractive destination for West Coast movers, following Phoenix and Dallas.