— The real estate industry is still recovering from the devastating storm, and the hottest real property market in America right now is in Spokane.
The Real Estate Board of Greater Spokane, or REBNY, released its 2017 Annual Report Tuesday morning, listing the hottest markets in the state.
The metro area had the second-highest number of homes sold in July, at 3,095.
The market is expected to hit its peak in October, with the average price of a home going up more than 11 percent.
In the Spokane metro area, the median price was $229,700.
That is $6,500 higher than the median sales price of $227,100 in June.
That increase in median sales prices comes after a surge in sales in June and July.
According to REB NY, the average sale price of homes for sale in Spokane fell 4.6 percent year-over-year to $237,500.
That number is slightly higher than last year, when sales fell 4 percent to $234,500 in 2017.
It was the biggest year-to-year decline since 2010.
Spokane also had the fourth-highest median price in the country at $217,700, according to the REB.
That’s more than three times the median prices in Portland, Ore., San Francisco and San Diego.
That was also the third-highest rate in the U.S. The median sales value of homes in Spokane was $232,000.