Spirit Lake July 2017 Market update

30 Homes closed in the month of July in Spirit Lake  Volume is Up!  There are currently 62 Homes for sale in  Spirit Lake of which 13 of them are pending.  So not even 2 months worth of inventory.  They saw we have a balanced market when there is 6 months worth of inventory on the market.  So still tough out there for buyers and sellers if you are thinking of selling it is still a very good time.

Here is the Scoop!

2017 New Construction in subdivision neighborhoods:

 9 Built this month by Daum Construction 1 by Ella construction.  These homes averaged on lots of about .25 of an acre (1/4) selling for an average price of $143.31 per square foot.  with an average build time of 165 days.  You do have an upper end build in this mix at $194 per square foot and a couple of starter homes that were in the 137 per square foot to come up with that average.

Compared to 4 homes selling in July 2016 for an average of $133 per square foot.

Spirit Lake 2017 sales are up!

2017 Existing Homes sales: Prices up Volume up!


These numbers were across the board on condition.  You have  6 homes selling averaging on a .35 of an acre lot averaging $109 per square foot.  With average days on market of 66 days.  When you throw the low out your going to be in the $147-$160 range for a square foot price with an upper end one selling in Spirit Lake Village for $196 per square foot.

Compared to 2016 homes selling 3 homes for an average of $126 per square foot on an average lot size of .42 of an acre and 71 days on market.

 

Homes On Land!  Prices across the board but they are not down!

2017 Homes on 1 acre lots.  3 of these homes this month with 2 of them being new construction.  They averaged in at $113 per square foot.  But once again condition and finishes are really across the board.  A big one with an unfinished basement that was spec home finishes for $105 per square foot.  A spec home new build at $91 per square foot and a higher end finished one coming in at $168 per square foot.  Finishes/ condition huge in this area on the price of homes.

Homes on an acre held steady volume wise with 3 closing in 2016 for an average sales price of $144 per square foot.

5 Acre Lots Home prices Up!

2017 Homes on 5 acre lots.  We had 2 close this month of July.  They averaged $188 per square foot.  Lot size averaged out to 4.8 acres and average days on market was 107 days.

Compared to 2 homes in 2016 for an average sales price of $131 per square foot.

 

Homes on 10 Acre Lots!  Home Prices up Tremendously!

2017 Homes on 10 acre lots.  We had 3 homes in that range this month.  Averaging out to 11.32 acres all 3 of these homes were in Spirit Lake East with an average sales price of $179 per square foot and an average days on market of 94 days.

2016 2 homes on 10 acre lots with an average sales price of $107 per square foot.  Both in Spirit Lake East also with an average days on market of 78 days.

Spirit Lake is taking off Compared to 2016 sales

Waterfront!  We had some Spirit Lake Waterfront sell this month!  Nothing last year to compare to!

2017 Spirit Lake Waterfront sales for July we had 2 cabins close this month.  They were on an average of 1/4 acre, averaged about 650 square feet and sold for an average sales price of $250 per square foot.  Both of these were on Spirit Lake average days on market was 150.  One secondary lot selling for an average of $136 per square foot.

 As usual when you consider these numbers you want to take condition of home into consideration and location.  These numbers are created for you as an average and to give you a basic place to start.  If you would like a more precise number  please contact me for your own personal market analysis or you can request one here also.   My Home value.

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