For years, Spokane homebuyers watched prices climb and wondered if they’d ever catch a break. According to new data from Redfin published March 23, 2026, that break may finally be arriving (at least in part).
What “Reset” Actually Means (And What It Doesn’t)
Redfin has used the term “reset” to describe a gradual return to normal conditions after years of pandemic-era price spikes. This translates to slower price growth, more seller concessions, and improved affordability. Spokane appears to be following this trend.
What the Spokane Numbers Are Saying Right Now
Spokane’s median sale price in February 2026 was $410,750–down 1% year-over-year, though up slightly from the prior month. That puts Spokane just below the national median of $429,650, which is actually still climbing at 1.1% annually.
Locally, homes are spending a median of 55 days on the market, roughly 30% of listings have seen at least one price reduction, and homes are closing at about 95.8% of original asking price.
Mark Hein, a Spokane-area real estate agent with eXp Realty, sees these numbers as an opportunity for buyers. They have more negotiating power now than they’ve had in years.
Spokane Prices in 2019 vs. Today
To put current prices in perspective:
Spokane’s median sale price in February 2019 was $244,000.
At $410,750 today, that’s a 68.3% increase over six years, actually outpacing the national gain of 56.8% over the same period. Buyers aren’t getting a cheap market by any means, but they’re getting a fairer one.
Is Now the Time to Act?
Spring is historically Spokane’s busiest buying season, and local market observers have noted that buyer competition could pick up meaningfully by April as rate sentiment shifts. The window of relative calm may be narrow.
Mark Hein advises buyers to get pre-approved, study price history on listings, and focus on neighborhoods with consistent demand. South Hill and Kendall Yards continue to hold value well, while parts of North Spokane have softened more noticeably.
The data is pointing in a clear direction. Whether buyers act on it before the spring rush is another question entirely.