Monthly Archives: April 2016

March 2016 Market Report for Rathdrum, Idaho 83858

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.

March Volume is down a little compared to last year

March Volume is down a little compared to last year

2015 saw a lot of new builds for Golden Spike Estates ( 55+ community) reported as sold in March.  When you kick them out of the numbers you will find that we are still up and climbing in 2016.

We ended 2015 with a total of 30 units for a sale of $5,582,307 in the month of March or an average sales price of $186,076 per home.  Click here to view 

  7 of those were new construction with Golden Spike with a total sale of $1,262,789.

2016 saw 18 units with a total volume of $4, 092,762 that averages out to $227,375 per home sold.  Click here to view the homes.

 

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.

2015 also had a couple of manufactured homes that sold one that was on .77 acres that was a 1582 sq ft one for $79,200 and one that was on 10 acres that went for $150,000 it was a 2128 sq ft home.

 

2015 saw 3 existing homes on acreage selling.  Those 3 homes sold for a combined amount of $733,000.  First on the list is a  1632 sq. ft. foreclosure, that had a lot of damage.  It was on 2. 73 acres and went for $115,000.  The other 2 homes was a 2200 sq ft home on 5 acres that went for $290,000 and a 3398 sq ft home that went for $328,000 it was on 2.98 acres.

2016 saw 3 homes selling in March on acreage.  The combined sale of them was $1,173,900.  They also are all quite unique.  First one is a  2733 sq. ft. one, that was on 1.23 acres for $485,000.  An, 1884 sq. ft. one that was on 7 acres that went for $389,900 and a 2170 sq. ft. one on 10 acres that went for $299,000.

2016 also had a twin lakes water front cabin that was 970 sq. ft. that went for $200,000.

 

Vacant land volume was up 2015 over 2016.

 

 2015 reflected the last lots selling out of Radiant lake.

 

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.

March 2016 Market Report for Rathdrum Idaho 83858