Rathdrum Idaho March 2018 Monthly Housing Market Update
Home sales volume has held steady with 29 homes selling in 2018 verses 31 homes selling in 2017. We currently have 135 homes on the market with 109 homes pending. That is leaving us with 26 homes available. Or less than 1 months worth of inventory. Depending on how you want to look at it. Very much still a sellers market! If you are curious about the value of your home request your home valuation here!
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March 2018 Results
March New Construction sales are a little more diverse this month with the opening of some of the smaller acreage lots in Wild Ridge Estates and some 5 acre lots new Construction. We had 10 New Construction homes close this March 2018. Same volume as last year as per numbers of homes sold.
That breaks down to 6 Homes closing on city lots. They were North Ranch at Corbin, Skyline Meadows, Corbin Crossing South, Prairie Sky and Radiant Lake. These homes sold for an average price per square foot of $134.
We then had 4 homes on land sell that were new construction. One at Wild Ridge Estates selling for $183 per square foot. That was on 1.18 acres. One in Lakeland Meadows that sold for $218 per square foot built by Premier Quality Homes. and a 5-acre lot that was not in a development that went for $204 per square foot built by Timbered Ridge, and a TRCH built home that sold for $226 per square foot. All 3 on 5 Acre lots.
March 2017 Results
March 2017 had 10 New Construction Homes sell this month. 5 Of these homes were in Golden Spike’s 55+ Community on rented lots. These homes sold for an average price of $133 per square foot. The other 5 Homes were on there own lots with an average lot size of .20 acres. They sold for an average price of $147 per square foot.
Existing Homes in on Rathdrum City Lots
March 2018 saw a drop of homes selling compared to 2017. We had 8 homes sold this month on city lots. They averaged $173 per square foot (price is up substantially) with average days on market of 45 days. The average lot size was .17 acres.
March 2017 11 Homes sold this month in 2017. These homes were on an average size lot of .22 acres selling for an average price of $135 per square foot. Average days on market are 70 days.
Rathdrum Homes on Land
5 Existing Homes sold this month on land.
Our high seller of the month was 1 home in lost Creek Estates that was on 1.22 acres that sold for $198 per square foot. Our low seller for the month was a manufactured home on 5 acres that sold for $166 per square foot. The other 2 homes on 5 acres sold for $181 per square foot and the 10 acre home that sold this month went for $186 per square foot. Average days on market for these homes was 105 days.
March 2017 Results
6 Homes sold on land in March 2017.
March 2017 3 homes on 5 acre lots sold they averaged 158 days on market. Average lot size was 4.8 acres and the average price per square foot was $150. The rest of our land home sales were a little scattered. We had a manufactured home on 6.5 acres that sold for $222 per square foot. It was on the market for 147 days. We had a 10-acre lot home that sold for $129 per square foot. That home was on the market for 40 days and we had a 119-acre property that was on the market for 322 days that sold for $277 per square foot.
Rathdrum Homes on Leased Lots
March 2018 we are down by 1 for homes sold with a total of 2. We had 1 Golden Spike Manufactured home that sold for $51 per square foot. Up a dollar from last year. And we had one stick built home selling for $141 per square foot.
March 2017 had 3 homes on leased lots selling. We had 2 in Golden Spike one being a manufactured home that sold for $50 per square foot. and one being a stick built that sold for $105 per square foot. We also had a double wide on a leased lot that was a fixer selling that sold for $13 per square foot.
Radiant Lake Condos
We had one condo selling in March 20Radiantidiant Lake Condos that home sold for $189 per square foot and was on the market for 63 days.
Twin Lakes Village Condos
March 2018 we had 2 Twin Lakes Village Condos sell. They were on the market for an average of 201 days and sold for an average price per square foot of $59. They were in Evergreen Court and Twin Lakes Village.
March 2017 had 1 condo selling in Twin Lakes Village. that home sold for $53 per square foot and was on the market for 112 days.
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