Rathdrum September 2017 Market Report

 September 2017, There were  47 homes sold in Rathdrum Idaho. Volume down from last September 2016 which had   59 properties selling.

 The properties sold were a mixture of new construction, existing homes, manufactured homes, townhomes, waterfront, and condos!  

13 New Construction Homes Sold

12 of these properties have an average of .25 acres and sold for $163.61 per sq ft. They were on the market for about 171 days. One of these 12 is a residential waterfront property built by Monogram Homes. Another new construction in the 1-2 acre group was also sold! I was built in the new Subdivision that is up and coming Wild Ridge Estates.

For September 2016, 13 properties were also closed. These averaged 0.12 acres and sold for $140.7 per sq ft and stayed on the market for 130 days. As you can see, the price per sqft is up!

 Existing Homes on City Lots 

19 existing homes sold in only 51 days!  They averaged 0.24 acres and sold for $154.35 per sq ft! For September 2016, 27 existing homes on city lots were sold!  Volume down for 2017!  The homes in 2016 did stay on the market longer — about 122 days and sold for $124.1 per sq ft.  Prices up almost $30 per square foot over last year.  What a great time to be invested in Real Estate!  What other assets can grow at that speed?

 Homes on 1-2 Acre Lots 

2 homes that averaged 2.14 acres sold for $170 per sq ft. They stayed on the market for 150 days. None of this size was sold in September 2016.

1 Manufactured Home Closed in Only 14 Days!

This property sold extremely fast! It’s located in Panhandle Village and sold for $66.78 per sq ft! No manufactured homes were sold in September 2016.

2 Homes on 5 Acre Lots 

These properties averaged 4.69 acres and sold for $120.32 per sq ft! They were on the market for 118 days. For September 2016, 3 of these homes were sold. They averaged 4.59 acres and sold for $131 per sq ft. The homes stayed on the market for 73 days.  Prices down slightly in this category.

 Properties on 10 Acre Lots 

We had 2 properties on 10 acre lots sell in September 2017 in Rathdrum. These properties stayed on the market for an average of 218 days and sold for $214.2 per sq ft! 2 homes on 10 acre lots were also closed in September 2016. They stayed on the market for 104 days yet sold for only $113.62 per sq ft. 

 

Golden Spike Estate 55+ Community

2 of these properties closed in only 77.5 days and sold for $132.25 per sq ft!    7 properties closed for September 2016, the properties stayed on the market for 196 days and sold for

1 Manufactured Home on Leased Lot 

One of these sold in only 15 days for $28.70 per sq ft. None of this type was sold for September 2016.

4 Twin Lakes Village Condos 

4 condominiums sold in only 82 days on average! They sold for $107.65 per sq ft! For September 2016, 5 of these properties closed in 99 days but sold for only $95 per sq ft. Prices up slightly.  

 

Twin Lakes Waterfront 

2 residential waterfront properties closed! These averaged 0.38 acres and sold for $252 per sq ft! They stayed on the market for 254 days. For September 2016, 2 properties were also sold. The properties averaged 0.44 acres and sold for $162.2 per sq ft. They were on the market for 73 days. There was a $90 per sq ft increase in price!

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