I decided to have a little statistical fun and see which community in North Idaho was leading the pack for 2009 home sales. I would have guessed Post Falls, and I would have been right. Currently, in North Idaho about 70% of sales are under $200,000. The $8000 tax incentive for those who haven't owned a home in the past three years is helping to fuel entry level purchases. The USDA low down payment loan program, which is available in smaller communities, like Post Falls, is providing an incentive for home shoppers to focus there.
Here's what I found in my search of single family residences SOLD since 1/1/2009:
#1 is POST FALLS, with 57 homes sold.
$105,000 was the lowest priced home sold, at 273 S. Seeley Street. It is a 1680 sq. ft., 3 bedroom, 1 bath home with no garage on a .44 acre lot. It was on the market for 70 days and sold for $62.50 per square foot.
$579,500 was the highest priced home that sold, at 1924 E. Rodkey Drive. This was an REO property. That is, Real Estate Owned. Meaning, owned by the lender through foreclosure. It came on the market 80 days earlier at $895,000. It is a 2230 sq. ft., 5 bedroom, 3 bathroom home on a .27 acre lot with no basement. It has 75 feet of Spokane River frontage and sold for $259.87 per square foot.
#2 is COEUR D'ALENE with 45 homes sold.
$98,500 was the lowest priced home sold, at 1005 N. 1st Street. It is on a .12 acre lot. The home has 834 sq. ft, with 2 bedrooms and 1 bath. It was on the market for 37 days and sold for $118.11 per square foot.
$489,600 was the highest priced Coeur d'Alene home to sell. Pre-sold new construction in Coeur d'Alene Place at 5994 N. Lafayette Lane, this home has 3004 sq. ft. and 5 bedrooms, 3.5 baths. It sits on a quarter acre and sold for $162.98 per square foot.
#3 is HAYDEN with 21 homes sold.
$80,000 was the lowest priced Hayden home that sold. This was also an REO property, billed as a handy man's special that "needs lots of work." At 10718 N. Oak Street, this home has 1788 sq. ft. with 3 bedrooms and 2 baths. It sold for just $44.74 per square foot. It sits on a .35 acre lot and was on the market for 56 days.
$525,000 was the highest priced home to sell in Hayden. 2440 Woodstone, in the exclusive gated community of Forest Hills, was on the market for 103 days, with a starting list price of $629,000. It has 2851 sq. ft. with no basement, 4 bedrooms and 3 bathrooms. Sitting on a .44 acre lot, it sold for $184.15 per square foot.
If you would like more information about our local market statistics, just give me a call. We are seeing positive signs of increased movement, a trend we hope will continue through the rest of 2009.
Janna Rankin Scharf provides a superior level of real estate services to home buyers and sellers in Coeur d'Alene and Kootenai County, Idaho. Visit www.JannaScharf.com to search for homes in the Coeur d'Alene MLS for anywhere in spectacular North Idaho.
No matter how grand or modest your real estate dreams may be, you can turn to me in confidence. Give me a call today and let me know what I can do to be of service to you!
Janna Rankin Scharf, AB, GRI, CSP, CNS, CLHMS 208.651.9700 NorthIdahoJanna@gmail.com