Spokane, Wash.-area home prices continued to rise in March as the number of homes for sale remained fairly limited.
The average selling price of $220,984 was up 8.1% from one year ago, and the median price of $204,900 was up 9.3% from March 2016, the Spokane Association of Realtors said in a report released Friday.
The group reported 555 homes sales for the month, an increase of 11.7% from one year ago.
The inventory of single-family homes for sale is down almost 28% since March 2016. Listings in March totaled 1,268 properties, which represents a supply of 2.3 months, the association said.
Distressed home sales accounted for 12.3% of sales last month.
