SPOKANE, Wash. – The market for apartments sold in Eastern Washington has slowed significantly after a strong start to the year.
A new third-quarter report from real estate firm Kidder Mathews revealed that only seven sales were recorded in the second quarter. This marks the lowest number of transactions in more than a decade.
Spokane County accounted for four of those sales, maintaining its status as the region’s most active market. However, several counties, including Chelan, Douglas, Franklin, Benton and Grant, recorded no transactions.
Another trend highlighted in the report is the rise in insurance costs. Premiums for older buildings are increasing, making upgrades such as new roofs or electrical systems more important than ever for owners looking to sell.
Looking ahead, Kidder Mathews suggested that the second half of the year could show stronger momentum. They noted that sales are likely to pick back up, offering a potential rebound in the apartment market.
