Here is your Spokane real estate market update for July 2026! Spokane’s active listings have climbed to roughly 3,900 homes this July—a 12% to 15% increase year-over-year—while the median sale price remains flat at $416,000.
Our thoughts and prayers are with everyone affected by the devastating recent fires across the Spokane area, which at the time of this recording have completely destroyed 600 to 700 homes and displaced around 70,000 residents.
Spokane’s active listings have climbed to roughly 3,900 homes this July—a 12% to 15% jump year-over-year—while the median sale price remains flat at $416,000.
Pricing and Inventory Data
Active listings in the Spokane area have climbed to about 3,900 homes without an offer, up 12% to 15% year-over-year, while the median sale price remains flat at $416,000. Interestingly, new listings actually coming onto the market are down about 15% for the month of July. However, because inventory is sitting on the market for a bit longer, the total number of available homes continues to pile up. It’s a noticeable shift, showing real stability in prices even as the active supply builds. June’s Market Update.
Interest Rates and Economic Context
Interest rates started and ended July essentially unchanged, with the bond market dipping just 23 basis points—not nearly enough to affect mortgage rates by even an eighth of a percent. The good news is they’ve stabilized; the bad news is they’re still as high as they’ve been in a year.
The Federal Reserve met last week and kept short-term rates the same, though they’re indicating future hikes. We actually have a contrarian take on this: if the Fed raises rates, it could paradoxically help mortgage-backed securities and lower mortgage rates by proving they are fiscally responsible and serious about attacking inflation. Kevin Warsh—who is an absolute stud and a hawk on this issue—has made it clear that the Fed’s gauge for inflation is exactly 2%. Not 2.2%, not 2.5%, not 2.9%, but 2%. Having an independent Fed stick to that target is ultimately a great thing for the 10-year Treasury.
Advice for Sellers
With 3,900 homes now sitting on the market, sellers need to prepare for a patient market and ensure their property is in the best possible condition at the most competitive price. We’re seeing inventory sit for longer than we used to, so this isn’t the time to test the waters with an unrealistic number. Get a free home valuation. Make sure your condition is pristine, and your price is perfectly dialed in to stand out from the competition.
Advice for Buyers
The steady increase in active listings to 3,900 homes means you finally have more options and a bit more time to make decisions. Since homes are sitting on the market a little longer, you aren’t forced to jump into a bidding war the second a house is listed. Keep an eye on rates, but take advantage of the fact that inventory is piling up and giving you some breathing room to find the right fit.
Looking to buy or sell? Visit spokanehomeguy.com or call 509-990-SOLD (7653) to get started!
FAQ
The median sale price for a home in the Spokane area is currently $416,000. Prices have remained highly stable and flat year-over-year, even as the number of active listings sitting on the market has steadily increased.
Mortgage rates started and ended July essentially unchanged, remaining near their highest point in a year. While the Federal Reserve kept short-term rates flat recently, they are firmly targeting a strict 2% inflation rate, which may lead to future adjustments.
Yes, active listings are steadily increasing. There are currently about 3,900 homes on the market without an offer, which represents a 12% to 15% increase compared to July of last year, giving buyers more options to choose from.
This Month’s Spot: The Elk
We filmed this month’s update from The Elk right here in Spokane! If you haven’t been, it’s a fantastic local spot to grab some great food. We’ll be at a brand new location next month for the August update, so stay tuned to see where we pop up next!
- Spokane WA median home price chart: Spokane median home price remains flat at $416,000 for July 2026
- Spokane WA active housing inventory chart: Spokane real estate active listings increase to 3,900 homes in July 2026
The Elk Public House
The Elk Public House has been a Spokane classic since it first opened its doors in 1999. Located in the heart of the historic Browne’s Addition neighborhood just west of downtown, it’s a Browne’s Addition landmark. It occupies a building constructed around 1940 that operated for over 50 years as The Elk Drug Store, a neighborhood pharmacy featuring one of Spokane’s last traditional soda fountains.
The Elk is yet another lovely patio’d restaurant in Spokane! They claim to have the BEST outdoor patio in town (we’ll let you be the judge of that). Their menu has many classics sprinkled with a few items you wouldn’t expect at a pub like bulgogi beef. We had the shrimp elote tacos, a smash burger, and Santa Fe chicken – we each had a side of the corn pasta (A MUST HAVE). All three were pretty good, but we agreed that the corn pasta was the star that has to make it on your plate when you stop in – it is so delicious!
When you sit indoors, you get a sneak peek at the past as the Elk chose to keep some of the features of the previous business – The Pharmacy. They have a retro neon sign above the door and many little signs and pieces that make the location feel so nostalgic. We hope you get a chance to stop in and grab a bite!
