Rathdrum May 2017 market report!
Let's start with 2017 - 7 homes on five acre lots sold in the month of May with selling prices ranging from $138 to $229 per square foot. Two homes averaged $139 per square foot and two averaged $177 per square foot and three averaged $216 per square foot. Condition, and amenities really made the contrast in these homes.
Two homes on 10 acre lots averaging $194 per square foot.
Two homes on 1-acre Lots one averaging $118 per square foot and one at $189 per square ft. 2 Very different homes with opposite end of the spectrum in amenities.
Golden Spike estates 55 + community had 4 homes selling in May 2017. They range from $82 to $146 with an average of $128 per square foot. You have to remember that most of these homes you do not own your lot.
There are a few of those homes that you do own the lot and that was our $154 per square foot one.
[caption id="attachment_1468" align="aligncenter" width="625"] Now is still a great time to sell your Rathdrum Idaho Home![/caption]
Twin Lakes Village had 4 condos selling. The ones on Racquet averaging about $93 per square foot in the other two condos averaging $143 per square foot. The condos on Racquet are still needing a lot of upgrades and other misc issues. Condition and how things are going to get repaired kind of reflects the differences in those prices.
May 2017 we had 25 single family home selling.
7 of those homes were under the $110 per square foot Mark averaging $103 per square foot.
2 under the $120 per square foot Mark averaging $119 per square foot.
4 under the 140 averaging $136 and
12 averaging $164 per square foot. Most of those are your newer construction once again age of Home condition, location really coming into play here.
We're beginning to see Rathdrum break up into four different sections with the older homes bringing in the $103 and then homes like around Townsend and Spencer bringing in the $119 to the $140 per square foot price range. And the new homes coming in around the $160 mark.
2016 Homes that sold in May
2016 home sales for comparison with if we start with homes on acreage we had 1 one acre lot on Twin Lakes which was a Lakefront home for $429,000 it was a 2400 square foot home averaging 167 per square foot.
we had 1 home on one acre over on Chase it was a three-bedroom two-and-a-half-bath average $150 per square foot.
And we had six homes on five acre lots ranging from us low as $104 per square foot all the way as high as $189 per square foot with the majority of them ranging in at 150 per square foot.
Twin Lakes Village we had two condos close one selling at $55 per square foot of course we know which ones those are over on Racket and one selling at $122 per square foot.
Golden Spike Estates 3 of them for as low as $87 all the way up to 136 per square foot.
And for existing home sales we had 20 home selling in 2016 they were ranging from the high $90s all the way up to about $166 per square foot.
age and condition factoring in.
8 of them were under $110 per square foot averaging $96 per square foot.
2 in the $120 range averaging $116.
and the final 10 came in at $143 per square foot.
So as we can see at least in the Month of May that homes on acreage are up quite a bit $25-$50 per square foot depending on location and condition. Some even doing a little better than that.
New construction is up bare minimum about $16 per square foot.
And minimal acceleration across the board in all of the areas and condition of homes.
Inventory is still low so if you are considering selling it is still a great time to list your property. Contact me
for a price quote on your home. It is no obligation and free.
And if you want more detail of what is closing in your neighborhood. Please contact me and I am happy to send those out to you. Idaho is a non disclosure state so I cannot just attach the monthly sold homes for you to browse thru. But I can send them to you if you request them. So don't hesitate.
I can also set you up with a monthly closed update of the homes in your neighborhood so if that is info that leaves you curious happy to satisfy that curiosity.
Any other questions always here to answer them. No question is to crazy when it comes to selling your home. Contact me!