Coeur d'Alene Area Waterfront Homes For Sale - Avondale Lake Market Activity

Janna Rankin Scharf, GRI, CLHMS, SFR - Coeur d'Alene Area Waterfront Homes For Sale - Avondale Lake Market Activity Report

I recently prepared a Comparable Market Analysis for waterfront homes for sale on Avondale Lake, just 5 minutes north of Coeur d'Alene in Hayden, Idaho.  It was pretty short and sweet - only three Avondale Lake homes have sold in the past year, and only one Avondale Lake waterfront home is currently listed for sale.

Avondale Lake is a lovely, serene, private lake covering 80-acres.  It is located adjacent to Avondale Golf Course, which sits directly north of Hayden Lake Country Club, which overlooks much larger Hayden Lake.  Because motorized watercraft are not allowed on Avondale Lake, noise and commotion from ski boats and jet skiers does not pierce the peace and quiet of the natural beauty of the Avondale Lake waterfront homes.

Wildlife is abundant around Avondale Lake, and each spring mother nature puts on a spectacular show as the pussy willows and water lilies come to life. 

Most homes are an easy cart ride to semi-private Avondale Golf Club's impeccably groomed fairways and spectacular wooded scenery. Avondale's course is a challenging & enjoyable 6,600 yard 18-hole golf course that boasts a large putting green & natural turf driving range.

Avondale Lake Waterfront Homes Market Activity Report as of March 14, 2011

ACTIVE:  Just one home is currently listed, which happens to be my listing.  It is listed at $525,000 and has 120 feet of deep water frontage.  It sits on the southwest side of the lake across from the 18th fairway of Avondale Golf Course.  It has 3,394 square feet which translates to $154.68 per square foot.  This home was built in 2006 and has never been lived in!

SOLD:  Three waterfront homes on Avondale Lake sold in the past 12 months. 

On the low end, a 2,424 square foot home on Avondale Loop sold in October for $350,000, or $134.82 per square foot.  On the high end, also on Avondale Loop, a 4,395 square foot home sold in June for $164.85 per square foot, or $725,000.  Around on the east side of the lake, a 3,139 square foot home on Friar Drive sold in July for $370,000, or $150.77 per square foot. 

EXPIRED:  Three homes expired during the past year.  They ranged in price from $349,500 to $700,000 and had been listed at an average price per square foot of $144.51.

CANCELED:  Five sellers gave up and canceled their listings over the course of the past year.  The canceled listings on Avondale Lake ranged in price from $449,000 to $749,000, with an average list price per square foot of $168.56.

One interesting thing to note is that all three homes sold for substantially less than their assessed values.  We know that assessed value is NOT market value, but right now buyers are looking closely at assessed values as a benchmark.  They are looking for the proverbial smokin' hot deal.  And at Avondale Lake this past year three lucky buyers found it!

The good news for sellers is that we are seeing signs that buyers in the upper-tier price ranges are recognizing that although we may not have hit bottom quite yet, value wise, a rise in interest rates will likely offset any further decline.  Hopefully as the sun comes out, so will many of those potential buyers and their pent up demand for these beautiful Idaho waterfront homes for sale.