Rathdrum June 2017 Market Report

Market Report Numbers are ready for June 2017 for Rathdrum Idaho!

Rathdrum June home sales Numbers are here

2017 New Home sales for the month of June saw 24 new homes close this month.  New home prices are up $6.86 a square foot from June 2016.

The 17 homes that closed in Corbin Crossing, Prairie Sky and Radiant Lake (that were not lake front) sold with an average sales price of $144.48 per square foot.    Those homes averaged being on a lot size of .178.  Those homes averaged 142 days on market to get built.   And they were pretty even 8 of them in Corbin Crossing built by Hayden Homes, 8 in Prairie sky and Radiant lake built by Benway and one lone Viking home.

Compared to 2016 of 12 new homes with an average sales price of $137.62

Radiant Lake Condos are up $26.64 per square foot.  Do note we have a different builder doing them 2017 than we did in 2016.

2017 We had 3 new Radiant lake condos that were new they were built by Blue Ribbon Builders and average $159.31 per square foot.   And they also averaged 142 days on market.

2016 they averaged a sales price of $132.67 with 171 days on market.

Radiant Lake Water front properties. Actually a wash in price.  Volume is up!

And 2017 we had 3 new Radiant Lake (lake front properties) that sold 2 built by Monogram and one built by Taku Construction.  Those averaged $166.28 per square foot and were on an average size lot of .287.  Those averaged 142 days on market also to get built and close.

2016 we had 1 built on Radiant lake with a sales price of $166.28 with a days on market of 155.

Existing Home Sales are up in price a whopping $23.52 per square foot.

2017 had 21 existing single family homes sell.  Those homes sold for an average of $142.29 per square foot.  They averaged sitting on a lot of .34 with an average days on market of 72 days.  I always get people asking how much less do you think they will take.  Just for a number to toss your direction today those 21 homes sold for a difference of $40,024 between the 21 different homes so that means each home averaged coming off its asking price by $1905.90.  Just food for thought in this market for you.

2016 Existing home sales  there were 16 homes sold for an average sales price of $118.77

How inventory effects prices

I like to break Twin Lakes Village out of these numbers and Golden Spike.  So…

Twin Lakes Village is really nothing to compare to for last year.  We had all condos sell this month for 2017 and last year we had town homes sell that were on land.

Twin Lakes Village had 6 condos sell the month of June 2017.  They averaged a sales price of $98.80 per square foot with an average days on market of 81 days.  They also averaged a price difference of an average of $2116. less than the asking price.

Golden Spike sales price is up $7.94 per square foot.  Volume is the same.

Golden Spike had 4 homes selling in the month of June 2017 those homes averaged $125.59 per square foot with an average days on market of 82 days.  They sold for an average of $1696 less than list price.

2016 we had 4 homes close and they average $117.65 per square foot.

 

Manufactured on rented lots.  Up for 2017 $7 per square foot.

One Manufactured home on a rented lot for 2017.  It sold for an average price of $35.50 per square foot was on the market for 66 days and I would assume it had multiple offers on it as it sold for $1500 over asking price.

2016 June also had 1 and it sold for $28.14 per square foot.

Homes on Acreage:  Prices are up about $14.06 per square foot.  Volume is down a little on acreage.

Starting with the 5 acre parcels for 2017 we had 6 homes selling for the month of June.  They averaged $175.95 per square foot.  They averaged 243 days on market which is going to be a false high as we had a home on Bar Circle S that sat for 865 days.  And one other that was on for 318 days.  The other 4 homes are going to average right into our 75-80 days as the rest of the market has.  There was $53,325 difference in list price and sales price for these 6 homes.  Unfortunately $30k of that was swallowed by 1 house.  So to tell you there is a lot of wiggle room on these properties from list to sales price I am going to say on the average its less than 5k.

Compared to 2016 where homes averaged $161.89 per square foot.  We also had a couple of 1 acre lots sell in 2016.  We had zero in 2017.

Homes on 10 acre lots  prices are up $28.37 per square foot.  Volume is the same.

Homes on 10 acre lots we had 2 homes selling in June 2017.  They averaged $175 per square foot and were on market for an average of 230 days.  Also going to be a false high number as we had one that sat 429 days and the other one 31 days.  I think these are also going to average around the 75-80 day mark if you want to go with a realistic time on market unless your numbers are crazy.   There was $10,887 between list and sales price so divided by 2 houses your still going to be in the 5k range for supposed wiggle room.

2016 Com parables had 2 selling They averaged $146.63 per square foot and were on the market for 75 days.

 As usual when you consider these numbers you want to take condition of home into consideration and location.  These numbers are created for you as an average and to give you a basic place to start.  If you would like a more precise number  please contact me for your own personal market analysis or you can request one here also.   My Home value.

Any neighborhoods you want specific sales info on please do not hesitate to Contact me and request it.

Related posts:

Like our content please leave a reply