Just over 500 homes sold in the Spokane area in July, a roughly 1% increase compared to the year-earlier month, the most recent Spokane Association of Realtors monthly home sales report shows.

For the year, sales are up just under 4%, or about 120 homes, through July, compared to the first seven months last year.

The median home price also rose in July, coming in at $435,000, up from $419,000 a year earlier.

Inventory at the end of July was up nearly 28%, with 1,518 homes listed for sale through the Spokane Association of Realtors’ Multiple Listing Service, representing a 3-month supply. At the end of July 2024, there were 1,190 homes on the market, representing a 2.4-month supply.

New listings in July totaled 971, a roughly 26% increase over July last year.