What Spokane Rental Owners Need to Know About the Multi-Family Market (March Report)
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 March’s Multi-Family Sales Report:
Key Takeaways: Month-over-Month
- Active Listings Increase (6% Rise): The number of active listings rose to 98 in March, compared to 95 in March, indicating a slight increase in available inventory.
- Pending Activity Growth (34 Transactions): Pending transactions decreased slightly from 40 in March to 34 in March, showing a minor cooling in market demand.
- Months of Inventory Adjustments:
- Duplexes: 6.5 months of inventory
- Triplexes: 9 months of inventory
- Fourplexes: 7.5 months of inventory
- 5+ Unit Properties: 15 months of inventory
- Average Price Per Unit ($201,450): The average price per unit sold in March was $201,450, reflecting a minor decline from March's $203,422.
What This Means for Spokane Rental Owners
These market trends indicate that while inventory has slightly increased, demand remains steady. The relatively high months of inventory for 5+ unit properties suggest investors may be more selective in larger acquisitions, while duplexes and fourplexes continue to move at a faster pace.
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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