The sales in the Sandpoint area were down considerably from our peak in 2007. (See figures below) However, our sales are still robust and better than the previous years of 2001-2004. So, if our market has declined, we are ahead of those years. Certainly, nobody would have thought of the earlier part of the decade as anything but a successful real estate market in Sandpoint.
Another facet is how our market is retaining value. Our median price is down, but not as much as many, many other markets in the United States.
See the Market Conditions representing October 2002 to October 2008
Bonner/Boundary County Real Estate Trends, 2006, 2007, and 2008
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2007
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Also, while it is paramount if you are selling your property that you price it right, we are not seeing sales that are gigantically lower than the asking price. What is happening is that when sellers price too high, they get no offers, and eventually price at market rates. Then, when offers are made, the offers are close to asking price. Sure, we see the occasional low-ball offer accepted, but this makes up a very small percentage of sales.
We are also continuing to grow. While Spokane and Coeur d'Alene are growing more quickly, we are also in that trend. Growth means more jobs, and more home sales. Continue to read and you will find supporting evidence for why our market is doing well, and other articles about the state of the market in North Idaho.
Remember, for the best info on Sandpoint, visit www.SandpointID.net
For great Sandpoint Idaho Real Estate info, check out www.RealEstateSandpoint.net
Do the slopes in our Top-rated ski resort. www.SkiSchweitzer.net
If you need help on any subject, or want a question answered, even if it isn't about Real Estate in Sandpoint, call me at any time.
Gary Lirette, REALTOR® for Tomlinson Sandpoint Sotheby's International Realty
208-610-1384
800-282-6880
gary.lirette@sothebysrealty.com
Local real estate information and data is garnered from the Selkirk Association of REALTORS®, and national info is taken from RealtyTimes and the NAR website, and is deemed reliable but not absolute.
Gary Lirette is the host of the North Idaho Business radio show for the last five years, and has a twenty-five year background in accounting and business. He has worked in real estate for ten years, and is the published author of dozens of articles and two published books.
All information included in this article has been thoroughly researched, but mistakes do happen. Please point out any inconsistencies and report them to Gary. Changes will be made immediately.
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