What Will the Spokane Housing Market Look Like in 2025?
As 2025 approaches, the Spokane housing market remains a topic of great interest. Spokane boasts a vibrant culture, stunning natural beauty, and a thriving economy. And Spokane has seen significant changes in its real estate landscape in recent years.
So, what can buyers, sellers, and investors expect in the upcoming year? We recommend speaking with a local Spokane Real Estate Agent because they have the knowledge to help guide you into the new year. But here is a look at potential trends for Spokane’s housing market in 2025.
- Continued Population Growth
Spokane attracts newcomers with its reasonable pricing compared to bigger cities like Seattle and Portland. This trend is likely to continue in 2025, thanks to remote work and the city’s great quality of life. An influx of new residents will likely keep housing demand strong, potentially driving further appreciation in home values.
- Inventory Challenges
While Spokane has made strides in new construction projects, the city has struggled to meet the growing demand for housing. Inventory for affordable and mid-range homes will likely remain limited in 2025. This could create a competitive market for buyers, leading to bidding wars and faster sales cycles for well priced homes.
- Rising Interest Rates and Their Impact
If interest rates rise in 2025, buyers may find their purchasing power slightly reduced. Spokane’s lower home prices may still attract out-of-state buyers seeking reasonable prices. Sellers should prepare for potential shifts in buyer behavior, such as more negotiation around price and contingencies.
- Spotlight on Sustainable Living
Sustainability is becoming a major factor in real estate, and Spokane is no exception. Buyers in 2025 may increasingly look for energy-efficient homes, solar panels, and environmentally friendly designs. Sellers with green features in their properties could see higher demand and potentially sell at a premium.
- Growth in the Rental Market
Spokane’s growing population includes young professionals and remote workers who may prefer renting over buying. This demographic will likely contribute to a robust rental market in 2025. Investors might find opportunities in multi-family properties or single-family homes in desirable neighborhoods.
- Downtown Revitalization and Urban Appeal
Downtown Spokane continues to transform, with new developments, restaurants, and cultural attractions drawing in a younger crowd. Homes and condos near the city center may become more popular as people prefer walkable neighborhoods and nearby amenities.
- The Gonzaga Effect
As home to Gonzaga University, Spokane enjoys a unique dynamic driven by its college-town atmosphere. Neighborhoods near the university are likely to remain popular among students, staff, and investors seeking rental properties. Expect this trend to remain steady in 2025.
- Opportunities for First-Time Buyers
Although home prices in Spokane have risen, they are still more affordable than in other West Coast cities. First-time buyers may find good options in growing neighborhoods or affordable new construction.
Preparing for 2025
Whether you’re looking to buy, sell, or invest in Spokane, staying ahead of market trends will be crucial. Buyers should get pre-approved for financing and work with an experienced agent who knows Spokane’s market. Sellers should focus on pricing their homes competitively and showcasing features that today’s buyers value most.
The Legacy Group Real Estate is here to help you navigate the Spokane, Tri-Cities, and Coeur d’Alene markets in 2025. Reach out to our team of real estate professionals for expert guidance, and let’s make your real estate goals a reality!
Looking to buy a home? Check out our buyer’s guide below!
https://thelegacygrouprealestate.com/buyers/deciding-to-buy/
Looking to sell your home? Check out our seller’s guide below!
https://thelegacygrouprealestate.com/sellers/deciding-to-sell/