Spirit lake Idaho Real Estate Market Update August 2018

Spirit Lake Idaho 83869 August 2018 Housing Market Update

17 Home Sales in Spirit Lake in August of 2018.  Still down some mostly a reflection from the Moratorium placed by the city. August 2017 sold 21 homes.   Spirit Lake currently has 61 homes for sale or as we would break that down the equivalent of approximately 3 months worth of inventory.  Still very much a seller’s market in Spirit Lake.

 

 

Spirit Lake New Construction

We currently have 8 New construction homes on the market or 2 months worth of inventory!  Prices up almost $24 per square foot.

4 new Construction homes sold this August 2018 in Spirit Lake.  2 homes on city lots both built by Daum Construction they sold for an average price per square foot of $164.  The other 2 homes both in Quail Ridge ( Bonner County) they were both on 5 acre lots and they sold for an average price of $227 per square foot.

August 2017 had 8 new Construction Homes selling for an average price per square foot of $140.  Those homes were in city lots.

Spirit Lake New Construction for sale

Existing Homes on City Lots in Spirit Lake

We currently have 27 existing homes on city lots for sale.  or Almost 4 months worth of inventory.  Prices are up tremendously for existing homes!

Spirit Lake had 7 existing homes on city lots sell this month.  They were on an average lot size of .27 of an acre and they sold for an average price per square foot of $164.  The average days on market were 136 days.

Compared to 2017 when we had 5 existing homes sell that sold for an average price per square foot of $121.  The average lot size for those was .22 acres and they spent 143 days on market on average.

Spirit lake Homes less than 1 Acre
Spirit Lake idaho

Spirit Lake Idaho Real Estate Home Values for August 2018

Spirit Lake Homes on Acreage

Spirit Lake currently has  2 homes on an acre for sale, 3 homes under 4 acres, 5 homes on 5 acre lots, 8 homes on 10 acre lots or a little more and 3 homes over 20 acres.  All of these markets running about 3 1/2 months worth of inventory.

Spirit Lake Homes on Acreage for sale

Spirit Lake homes on 1 Acre

One home in R Ranch sold this month it sold for an average price per square foot of $215.  The average days on market were 49 days and the average lot size for this property was .85 of an acre.

August 2017 we had one home sale and it sold for an average price of $93 per square foot.

Spirit Lake Homes on 5 Acres

Spirit Lake had 2 existing homes on 5 acre lots sell this August 2018.   They sold for an average price of $187 per square foot.  They were on an average lot size of 4.95 acres and the days on market averaged out to 59 days.

Volume down slightly in existing homes on 5 acre lots with 4 properties selling in 2017.  They sold for an average price of $ 198 per square foot. 91 days on market for those.

Spirit Lake homes on 10 Acres

We had 3 Spirit Lake homes on 10 acre lots sell this month.  One being a distressed property that sold for an average price per square foot of $63.  It sold quick 30 days and was on a 10-acre lot.

The other 2 homes sold for an average price per square foot of $206 and were on the market for an average of 51 days.  The average lot size was 9.05 acres for those 2.

Volume held steady over 2017 with 3 homes also selling August 2017.  These homes sold for an average price of $146 per square foot and about 90 days on market.

Spirit Lake Waterfront Homes

We had No waterfront homes sell this August 2018. 

We do have 8 waterfront homes for sale in Spirit Lake.  With prices running as low as the $400k range all the way up to over 1 Million there is a fair amount of inventory in the waterfront homes.

August 2017 had 1 waterfront sale and it sold for $454 per square foot.  88 days on market.

Spirit Lake Waterfront Properties for sale

 

Considering Selling Your Spirit Lake Home?

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Curious about previous Market Reports?

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Spirit Lake Homes for Sale

 

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