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North Idaho Real Estate - Year to Date Statistics

Current YTD figures through May 31st, 2009

For Figures through March 31st 2009 see our First Quarter Homes Sales Report.

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References made to "last year" or similar phrases references the same period of the prior year unless specifically stated otherwise.

The National Association of Realtors (NAR) is projecting that a combination of higher prices and higher interest rates will lead to a less affordable marketplace in the second half of 2009. NAR's affordability index is at a peak in the first half of 2009 - where buyers are most likely to get maximum value for their money. It is the combination of low interest rates, low home costs and a tax credit that is still in effect in early 2009 for first time home buyers that allows homes to be so affordable.

Statistics for North Idaho Real Estate:

Graphical View of Market Inventory

But, as always, "market" is a relative term and the overall market may have little to do with any one specific home. So lets get specific:

Residential units on less than one acre: 566 units sold this year versus 702 last year. This is down 19% from last year. Average price sold this year was $191,977 versus $219,091 last year, a decrease of 12%.

Residential units on Acreage: 95 units sold this year versus 101 last year, a decrease of 5%. Average price sold was $292,007 versus an average of $359,956 in 2008, a decrease of about eighteen percent.

Waterfront and Secondary Waterfront Properties: 13 waterfront and 9 secondary waterfronts sold in 2009 versus 15 and 5 respectively in 2008. Average sold prices are not meaningful with this little data available this early in the year.

Multi-Family Units: Fifteen units sold this year versus twenty-two last year, a decrease of 31%.

Vacant Land on 1-10 acres: 37 this year versus 68 last year. Average sales price was down 67%.

Vacant Land over ten acres: Twenty one versus twenty three last year .

The recent trend has been increased sales, though in most cases those increased sales have not taken us above 2008 levels. Nevertheless it appears that the decline in sales is slowing and may be indicative of a bottom - something that many have been expecting to form throughout most of the first half of this year. Typically price movement will lag unit sales movement. This should be good news for both buyers and sellers. Sellers may be at or near the bottom of the price barrel and buyers can currently pick up homes that are more affordable than they have been in decades. Buyer incentives continue to help and smart buyers are locking in the services of a licensed Realtor now! Call Realtor Ron at 1.208.666.6264 and get your buyers' representation today.

If you are a Seller: Overall market numbers mean little to you. You need to know what price your home will likely sell for and how it can be marketed so that you can obtain optimal price within your desired 'time to market' timeframe. Call Realtor Ron at 1.208.666.6264 (voicemail system will page an agent) to take the Sotheby's Listing Advantage today!

If you are a Buyer: You should be represented by a Realtor who can track down your dream home and then craft an offer that will take advantage of this Buyer's market! Call Realtor Ron at 1.208.666.6264 (voicemail system will page an agent) to take the Sotheby's Buyers' Advantage today!

Note that the chart of sold properties in North Idaho reflects properties listed in the CDA MLS which includes some properties in Washington State as well.

The ZIP Code Maps helps show areas that have taken a long time to sell and areas of the highest prices, and is perhaps the easiest chart to understand. Nevertheless, if you are considering selling your home then analysis by ZIP Code is not what you want. A qualified CMA will look at your neighborhood, and contrary to popular belief neighborhood is not defined by geographical area alone!

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.

North Idaho Residentials Sold

North Idaho Residential Average Days on Market by Zip Code

Average Sold Price by ZIP Code

Check out the view from this home that is currently for sale in North Idaho!

SOLD

Daylight Rancher overlooking Silver Beach Marina

Click here for spec sheet

or click picture for virtual tour