What Spokane Rental Owners Need to Know About the Multi-Family Market
Staying informed about rental market trends is crucial for making strategic investment decisions. Our analysis of Spokane's rental housing data provides key insights into how the market is evolving. Here’s what we found from February’s Multi-Family Sales Report:
Key Takeaways: Month-over-Month
- Active Listings Decline (7% Decrease): The number of active listings dropped from 102 in January to 95 in February, indicating a continued tightening in inventory.
- Pending Activity Stabilized (40 Transactions): Pending transactions remained steady at 40, showing a consistent level of market demand.
- Months of Inventory Variations: Inventory levels fluctuated based on property types, with fourplexes tightening to 4 months of supply, while properties with 5+ units saw an increase to 22 months.
- Average Price Per Unit ($203,422): The average price per unit sold in February was $203,422, reflecting a slight decrease compared to January’s $215,100.
What This Means for Spokane Rental Owners
These market trends indicate a competitive environment for rental investors. Lower inventory means that well-priced rental properties continue to attract interest. Meanwhile, fluctuations in multi-unit inventory levels suggest shifting investor strategies in different property segments.
At Cobalt Property Management, we stay ahead of market trends to help you make informed investment decisions. Whether you’re looking to expand your portfolio or optimize your current rentals, our expertise ensures you have the right strategy in place.
If you’re a rental owner in Spokane, WA, and need guidance on navigating the market, contact us today. Let’s discuss how we can help you succeed in the evolving rental landscape.
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