September 2017 Spirit Lake Market Report
There are 18 homes sold in Spirit Lake for the month of September 2017 and 19 units sold in September 2016!
4 homes built by Daum and Ela Construction were closed for September 2017. They were on the market for an average of 139 days. These properties are located in the town of Spirit Lake and 1 home in Ossewarde Add the new subdivision across from the Jr. High School. They averaged about 0.16 acres and sold for $134.45 per sq ft. Last year, 4 homes also closed. They sold for $133.18 per sq foot with an average of 0.21 acres. They were on the market for 157 days.
Existing Home Sales on City Lots
6 Existing Homes Closed for September 2017 Compared to 9 homes in September 2016
6 homes were sold for September 2017 with an average of 0.35 acres and sold for $113.39 per sq ft. They were on the market for an average of 64 days. Last year, 9 were closed that had an average of 0.37 acres and sold for $117.64 per sq ft. These homes average days on market were 143 days.
There were more sales last year compared this year. However, days on market were longer.
Waterfront Property Sold!
1 waterfront home with a total of 0.75 acres was closed and sold for $649.39 per sq foot. This property was sold in only 84 days. In September 2016, 2 waterfront homes were closed. They were an average of 0.89 acres and sold for $220.79. These 2 properties were on the market for an average of 256 days. Quality of this years waterfront home was exceptional! I don’t think you are going to see the price per square foot trending unless we are talking another extremely high-quality home.
Existing Homes on 1 acre lots
4 units at a new subdivision in Spirit Lake were closed for the month of September 2017. They averaged 0.98 acres and sold for $153.35 per sq foot. These homes were on the market for an average of 56 days. No one-acre lots were sold in September 2016.
Existing Homes on 5 Acre Lots
2 homes were closed in September 2017 they were an average of 5.05 acres and sold for $171.07 per sq ft. Average days on market were 54 days. No 5-acre homes were sold in September 2016.
Existing Homes on 10 Acre Lots
1 10 acre lot at Spirit Lake East sold! This home sold in 50 days for $136.49 per sq foot! For September 2016, 1 home also closed for a 10-acre lot for $126.49 per sq foot and was on the market for 70 days.
Comparing September 2016 to September 2017, more properties were sold 2016 (with only 1 unit difference). Prices are up slightly but the market appears to be leveling off.
If you want a detailed market report on your property or if you are interested in what homes in a certain neighborhood are going for, please do contact me.