Rathdrum, Idaho Market Report for March 2016

By
Real Estate Broker/Owner with Idaho Real Homes LLC

Residential sales are actually down a little in 2016 compared to 2015 for the month of March technically.  I do not think that is a true reflection of the market.

Volume is down slightly and prices are up!

2015 saw 13 homes selling as existing single family homes they sold for a total of $2,132,100 or an average of $164,007.  The average total square footage of those homes was 1579 sq. ft. or selling for the average price of $103.86 per square foot.

 

2016 saw 9 existing single family homes selling for a total of $1,485,600 or an average of $165,066 per home.  The average square footage of those homes was 1475 sq ft or selling for the average price of $111.90 per square foot.

New Construction is still climbing in the area:

2015 Saw 2 New construction homes, that were built-in town for a total of $452,530 with an average sales price of $226,265.  Total square footage of those 2 averaged 1769 sq. ft. with a total square footage price averaging in at $127.90 per square foot.

2016 gave us 5 homes selling that are new construction for a total of $1,233,263.  One of those homes is a big home with an unfinished basement that I am going to take out of our averages as its going to skew the numbers.  It sold for $410,170 and was 4750 square feet.  The other 4 averaged $205,773 each with an average square footage of 1578 or selling for an average price of $130.40 per square foot.

2015 Also gave us 2 new construction homes on acreage.  1 that was 1818 sq ft that sold for $286,000 it was on 5 acres and the other a 2680 sq ft home that was on 3 acres that sold for $430,000.

We saw 4 lots sell in March 2015 with a total volume of $161,900 or an average sales price of $40,475.  Average lot size was .30 of an acre.  Click here to view the 2015 sales.

We had 6 acreage lots sell in March of 2015.  One a 2.29 acre lot for $55,000.  One large lot that was 20.25 acres that sold for $160,000.  And then 4 (4+) acre lots that averaged  $108,000 per lot the lots averaged 4.48 acres each.    Those 4 lots averaged approx. $24,545 per acre.

2016 saw only 1 vacant lot in town selling.  That was a .29 acre lot for $30,000

2016 also saw 4 lots with acreage selling in the month of March.  Those 4 lots sold for a total of $502,000 or an average of $125,500  The acreage average of them was 4.10 acres with an average selling price of $30,609 per acre.  Click here to see properties.

So even though the volume is down a little for the year.  Prices are still up and climbing.  It's a great time to be selling property.  If you would like your personal price opinion on your home please contact me.

Posted by

Michele Webler DB, ABR, CRS GRI, SRES :  Your Farm and Ranch Specialist

Idaho Real Homes LLC

Serving North Idaho Kootenai County and Eastern Washington Spokane County

Search for Homes Here

208-659-2737

michelewebler@gmail.com

Michele Webler SKE Realty Group LLC

 

 

 

 

 

 

 

Comments (1)

Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Michele - this is a very comprehensive market report for Rathdrum Idaho.  Buyers and sells should contact you.

Apr 23, 2016 02:23 AM