August Spirit Lake Market Report

21 new construction and existing homes sold in August 2017! Compared to only 8 homes closing 2016. It almost tripled the quantity! Spirit Lake home sales are definitely up!

New Construction

8 new construction homes that averaged 0.26 acres sold for $140.51 per sq ft!  These properties stayed on the market for 155 days. This is a very good month for Daum Construction as 6 of these homes were built by them.  In August 2016, no new construction homes less than 2 acres were sold.

 

Existing Homes on City Lots

 5 existing homes that averaged 0.22 acres closed in August 2017! They were on the market for 143 days and sold for $121 per sq ft.

6 existing homes sold for $162.67 per sq ft. They stayed on the market a little longer — about 163 days in 2016.

Existing Homes on 1 acre lots

One home on a 1-acre lot for 2017 and it sold for $93.33 per sq ft!

Existing Homes on 5 Acre Lots

 4 properties on 5 acre lots average days on market were 91 days! They sold for $198 per sq ft. In August 2016, only 1 property on 5 acre lots was sold and it stayed on the market for over 333 days! It sold for $195.91 per sq ft.

 

Existing Homes on 10 Acre Lots

3 homes closed in the month of August 2017! Home on 10 acre lots sold for $149 per sq ft and stayed on the market for a little over 3 months; In August 2016, only one property on 10 acre lots was closed and stayed on the market for 120 days. It did sell for $199.29.

Existing Home on 20 Acre Lot

The Home on the 20-acre lot closed in only 2 months and sold for $105.6 per sq ft.

Waterfront

The Waterfront property,  sold in  88 days. It sold for $454.63 per sq ft.  No 2016 waterfront to compare to.

 

Comparing the stats for August 2017 with August 2016, the number of homes sold definitely went up!  If you want a detailed market analysis and how much your home is worth,  contact me.

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