Sandpoint December 2018 Market Report – 83864
To give a better base line for all Market Reports I have made a minimum number of guidelines. Single Family with $750,000 maximum price. 1 bedroom and 1 bath minimum. I have excluded Sandpoint City, which has a market report to itself, and also excluded Schweitzer Resort. Sandpoint December 2018 Market Report is based on Selkirk MLS information and deemed reliable although not guaranteed.
Sandpoint 2018 ‘sold’ home prices peaked early in the 4th quarter only to drop again to the December 2017 level.
Sandpoint December 2018 ‘Days on Market’ showed a drastic increase over October and November 2018 with even a 20% increase over December 2017.
Number of homes sold in Sandpoint decreased steadily over the 4th quarter and even dropped roughly 40% from December 2017.
What does all this mean?
We are sitting on a very fragile market at the moment. Days on market would indicate it should be a buyers market. Number of homes sold lean towards a buyers market as well. The spike in prices then a drop begs another month or two for direction. What is clear we are in a leveling off period as is the whole nation.
A decrease in inventory, active listings, showed itself month to month from as far back as September. This can be due to winter months in North Idaho. I don’t believe that to be the deciding factor. Coming out of winter, non existent as it has been, and what the Feds do with interest rates will be deciding factors in which way the market moves.
Fragile or not, this is a very strong market right now. Buyers are active and looking seriously. Homes are selling at an increased value. Economy in our area is showing itself well with new housing and overall robust shoppers.