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Residential Home Sales Data for North Idaho- Third Quarter 2009 Report:
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The third quarter and nine month numbers are in! While most of the Nation peruses rather dismal residential sales data, North Idaho has often stood out from the rest! Let's see if that was true in the first three quarters of 2009 versus the same period in 2008 in regards to residential home sales.
Is It Really That Bad?
We have all heard how bad the Real Estate market is, and continue to hear about foreclosures nationwide. But we also hear that the market in North Idaho is distinctively different than other parts of the country. So how did the market perform in 2009 as compared to 2008? Let’s find out!

3Q Map of Solds 2009
HIGHLIGHTS:
| Unit Type |
2008 Units Sold |
2009 Units Sold |
| Acreage 10+ |
61 |
59 |
| Acreage 1-10 |
135 |
87 |
| Commercial w/land |
47 |
34 |
| Manufactured on Acreage |
39 |
46 |
| Multifamily |
44 |
25 |
| Residential w/Acreage |
232 |
220 |
| Residential Waterfront |
52 |
53 |
| Secondary Waterfront |
17 |
25 |
| Single Family <1 Acre |
1439 |
1339 |
| Townhouse/Condo |
160 |
102 |
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|
| Unit Type |
2008 Avg Sold Price |
2009 Avg Sold Price |
| Acreage 10+ |
$355,867 |
$246,012 |
| Acreage 1-10 |
$179,143 |
$78,164 |
| Commercial w/land |
$510,820 |
$405,803 |
| Manufactured on Acreage |
$185,689 |
$159,085 |
| Multifamily |
$300,149 |
$225,832 |
| Residential w/Acreage |
$362,844 |
$291,931 |
| Residential Waterfront |
$913,227 |
$838,595 |
| Secondary Waterfront |
$464,259 |
$255,320 |
| Single Family <1 Acre |
$222,130 |
$189,316 |
| Townhouse/Condo |
$262,117 |
$189,993 |
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|
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Although in many sectors prices have been hit hard we see see the steep decline in units sold leveling off a bit - with a few notable exceptions. Raw land under ten acres continues to be hurt in both number of units sold and price of units sold.
With Waterfront, Secondary waterfront and manufactured homes on acreage we actually see an increase in units sold - though this came at a reduced price.
Prices are generally down in the first three quarters of 2009, but the stabilization to some degree of units sold is encouraging in that this is typically the type of activity that occurs at the bottom of a market. As national housing data continues to improve we can anticipate the winter months to be slow - as usual for North Idaho - but to provide for the real potential for pent up demand which can affect both units sold and price of units in 2010.
Remember: Properly priced homes sell. If you are a home seller one of the most important steps you can take is getting a good, qualified CMA – not something spit out by computer!
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First three quarters of 2009 Average Sold Price by Zip Code North Idaho
Average Days on Market First Three Quarters 2009 by ZIP Code
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