If you’re looking at houses in the $300,000 or less range, expect competition – lots of it. The Spokane area market is following national trends: As the economy recovers, demand for houses has increased, but inventories remain low.

This is a seller’s market.

In June, about 1,422 homes were listed for sale in Spokane County – about 24 percent less than last year at this time.

Compared to much of the West Coast, the Spokane area remains an affordable place to buy a home. But prices here have risen about 14 percent in the past year.

In June, the median sales price for a home or condo in Spokane County was $246,250. A year ago, it was $216,150. The average sales price was $268,828, compared to $233,361 a year ago.

Current market conditions can tempt sellers to get greedy, but inflating the sales price of the house isn’t a good move.

You still need to price realistically for the market.

If a seller accepts a $275,000 offer, but the appraisal comes in at $200,000, the buyer can’t get their financing. If you’re the seller, the delay can cost you several weeks of valuable time.