Rathdrum January 2018 Market Report
Rathdrum opened the year with 24 homes closed in January 2018! The volume went down by 7 homes comparing it to January 2017 which had 31 properties sold.
10 New Construction Homes
These new homes averaged 0.2 acres, were on the market for 226 days and sold for $146.3 per sq ft. They’re located in Corbin Crossing South, Prairie Sky, Boekel Ranch, Timber Landings Estates and Radiant Lake Subdivisions. In 2017, 7 new construction homes were sold. They averaged 0.25 acres and sold for $153 per sq ft. The properties were on the market for 178 days! The volume is up by 3 this 2018.
8 Properties on City Lots Sold
It only took about 88 days on average to sell these homes. They sold for $124.4 per sq ft and had an average size of 0.23 acres. Its location is in Radiant Lake, Quail Ridge, Meadowland, Prairie Est, Olsons Lakeland Pine, Kiefer and Quarle’s. The previous year, 9 homes on city lots that averaged 0.31 acres were closed in 118 days. They were sold for $104 per sq ft. The volume went down but the prices increased to 19% on average.
2 Existing Homes on 1-2 Acres Lots
One of these properties is a new construction and it averaged 3.3 acres. They were on the market for 170 days before it was sold for $197 per sq ft. In 2017, 2 homes on 1-2 acre lots were also closed. They were sold at $124 per sq ft in 94 days average. The price definitely went up for this property type!
1 Manufactured Home on Rented Lot
This is a 1997 manufactured home that was sold for $40K in exactly 2 months! The average price per square foot was $31. 1 manufactured property was sold in January 2017. It was a 1996 home in Pine Haven. It was sold for $31.25 in only 29 days. Prices holding solid here.
One Condo this January 2018. This 2013 condominium is located in Radiant Lk Condos and sold for $208,500 or breaks down to $178 per square foot. It was closed in only 73 days. One Radiant Lk Condo was also sold in 2017. It was on the market for 28 days. The average price was $100.44 per sq ft.
2 Twin Lakes Condos
These properties are Timber Lane Condos and Fairview Court Condo. They were sold in 292 days at $89 per sq ft. In the previous year, 2 Twin Lakes condos located in Twin Lakes Village and Evergreen Court were closed in 237 days. They were sold for $99 per sq ft.