Coeur d’ Alene Market Report for January 2017
New Home sales were on par with 2016 with each year closing 15 homes.
That is where it ended: Want to know what your home is worth? Yes Tell Me!
As we are still cleaning up a little from the market recovery in 2015 I split the sales into categories of selling for under $150 per sq foot and selling over $150 per sq ft. That really separating the spec homes from the upper end custom homes.
2016 saw 12 homes selling under the $150 per sq ft or less mark with them averaging 102-130 per square foot.
2016 saw 3 upper end homes selling for a range of $175-191 per square foot.
2017: Same 15 units selling in the January time period
5 Homes sold for under $150 per square foot. With those 5 homes averaging $132 per square foot. I didn’t give you a range on these as there really wasn’t one. One home sold for under the $130 per sq ft mark bringing our number down a little. Realistically it should probably read about $136 per sq ft. Tossing the 1 low one. With prices realistically up about $25 per square foot.
I’m thinking under $150 per sq ft is almost in our rear view mirror.
7 units between $150-200 per sq ft. With those averaging $174 per sq ft.
2 units under $300 per sq ft averaging $235 per sq foot. One of those being one of the homes down on the river on Bellerive Ln.
And number 15 coming in as a single home on Estancia Dr for a $302 per sq ft sales price.
Existing Home Sales:
2017 – 52 Home sales in January
2016 – 54 home sales in January
So very little change in the actual number of units sold.
I am going to break these up by age for you. Into 3 categories: Pre-1950 Homes from 1950 to 1999 and homes from 2000 to 2015.
Pre-1950 Homes we had 12 that sold in 2016 compared to 10 in 2017
1 of those was a higher end home that sold for $228 per square foot.
The other 11 range from $85 to $148 per square foot. The ones that sold for under 100k per square foot as condition is usually the deciding factor in that department. We had 4 of them that averaged $92 per sq ft.
The other 8 averaged $122 per sq ft with a range of $105-148. So once again condition and upgrades very important.
Pre 1950s break into 2 tiers the under 150k per sq ft of which there are 4 of them. 1 low baller at $65 per sq foot that needs a lot of work. The other 4 Averaged $126 per square foot.
The other 5 were much better condition and they averaged in at $170 per sq. ft. A little difference in price range for the year. Once again up $25-$35 per square foot.
1950 Homes to 1999 Homes
23 homes sold in January 2016 of that age group.
Separating them also from the ones that went under $100k per sq ft. You need to consider these in need of upgrades or condition issues. 11 of those homes fell into this area selling for an average of $76 per sq. ft.
8 of the balance of those 23 homes sold for under $130 per sq ft. Averaging $114 per sq ft.
3 of them sold over $140 per s q ft and those came in at $149 per sq ft and 1 super upgraded home that came in at $211 per square foot.
2017 January saw us close on 25 Homes
5 of them selling for under $100 per square foot. They averaged $85 per square foot. You have to figure these needed work.
The other 20 of those homes sold in a range of $101-190 per square foot. The little house on Gilbert was the high ender at $190 per square foot. The rest of them averaged $128 per square foot.
Homes built 2000 and newer But Not new Construction
19 homes in that category averaging $125 per square foot for 2016.
Nothing outstanding in this group nothing in major poor shape.
17 Homes in January of 2017 closed in the homes built from 2000 on.
Those homes sold for an average of $128 per square ft. But I have to make a side note on that.
You have a handful of homes in that number that sold for the low $100’s per sq ft. The average number that I think you can realistically look for is going to be in the $144-154 per square foot price range.
Want to know what your home is worth? Request your No obligation Market Analysis Here! Curious about what has sold in your neighborhood? Shoot me an email and I am happy to send you those or anything that closed this month. Idaho is a Non- disclosure state so I can’t just paste you a link here to check out the closed sales. But if you want one contact me and I can get it for you. Not a problem!
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