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Find the best homes and land in North Idaho! Residential Home Sales Data for North Idaho- Third Quarter 2008 Report: enter email address to be notified when this report is updated! 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 2008 versus the same period in 2007 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 2008 as compared to 2007? Let’s find out!
HIGHLIGHTS: Residential Acreage sales were down 16.2% in the third quarter; down 26.1% over the nine month period. Despite a 6.5% drop in prices through the first nine months the third quarter numbers for residences on acreage were down less than one half of one percent. So RA third quarter prices were encouraging! Single Family on less than acre were down 26.2% in sales and down 1.2% in price for the third quarter. Nine month results were down 23.8% for units sold and 2.7% in price. Once again third quarter pricing was encouraging in this category as well! Sales of residential waterfront and secondary waterfront units were down about 47% in both categories for the third quarter; down 56% and 47% for the nine month period. For the nine month period prices were up 18.4% and 20.4% for waterfront and secondary waterfront, despite the large drop in units sold. The third quarter alone was difficult for secondary waterfront with prices down more than 25% in the third quarter, but still sporting those nine month price gains. Meanwhile waterfront prices did well in the third quarter - up almost eighteen and a half percent - the same as the nine month results.
Multi-family was hammered in the third quarter, down 27% in units sold and almost thirty percent in price. Nine month numbers are mixed, with units sold down almost forty percent but only 9.6% in price. This shows increased pace of sales in the third quarter but at the expense of serious price declines in the third quarter. Vacant land sales on 1-10 acres were down fifty percent, but pricing was relatively stable in the third quarter. Nine month results were down 43% in units sold but up in price by seven percent. Again we see these lots struggling to maintain their prices - but most other categories were price losers so even a tiny price gain is good news! Vacant land over ten acres was up sixteen percent in sales in the third quarter and almost thirty percent in price. This compares to nine month numbers of a thirty two percent decrease in sales and a nine month price decline of 34%. So the strength in both sales and pricing in the third quarter is extremely encouraging for this category. See the 3Q2008 PDF File here See the Nine Month PDF File here 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!
To see data on Washington County Home Prices and Sales, click here. |
First three quarters of residential/vacant land/multifamily Average Sold Price by Zip Code North Idaho
Average Days on Market First Three Quarters 2008 by ZIP Code
Above: Amazing Log Home on Acreage! or click picture for virtual tour |
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| Data obtained from the Coeur d'Alene Association of Realtors and is believed to be accurate but is not guaranteed. | North Idaho First Half 2008 Residential Home Sales Charts |
Each Office Is Independently Owned And Operated. Equal Housing Opportunity. Some information on this site is provided by CAR MLS. Information deemed to be reliable but is not guaranteed.
