SPOKANE, Wash. - Home sales in Spokane are seeing an upturn and no where is this more apparent then on Grand Blvd. where drivers are noticing almost a whole block is up for sale.
The owner of the homes passed away and now the family is selling and it could be the perfect time . Throughout Spokane home sales are up.
Between 18th Ave. and 19th Ave. there are five houses with five signs.
"Right across from Manito Park in the 20 mile-an-hour zone. People have to slow down," said Bob Cooke with R.H. Cooke and Associates.
Almost the whole block is up for sale.
"Four, five years ago it was tough to sell a house in Spokane. It was tough to sell a condo or house any place in the United States," said Cooke.
R.H. Cooke and Associates listed the homes mid February.
"And right off, right out the shoot we had several offers," said Cooke.
The homes are being sold as a bundle for just under $600,000 but Cooke is taking individual offers as well. Buyers can keep the homes and enjoy the 7 percent cap rate or redevelop.
"And it makes sense to put in multi-family or commercial in there simply as a buffer," said Cooke.
And throughout the neighborhood for sale signs are popping up with the market slowly moving from buyer to seller.
"It's in transition right now. The really good deals, where the bottom feeders were coming in and buying everything, two or three years ago, they're not there anymore," said Cooke.
Cooke says that's a good sign. Prices are up 8 percent from last year and inventory is down 10 percent.
"It's very good news. Things have finally turned around," said Cooke.
With sales up 8 percent compared to last year Cooke hopes these five homes get five new sold signs very soon.
- City Council approves $1.75m loan for Ridpath Redevelopment
- Mail Theft Ring Suspect Arrested
- City working to fill potholes despite poor road conditions
- Wrongful death lawsuit over case of Brenda Thurman still unresolved
- Post Falls company under fire for racist image
- Officer not charged in May 2016 shooting