Sandpoint Realty 4th quarter Market Report 2022, Bonners Ferry Idaho 83805, shows us much the same trend as Sandpoint Idaho 83864 4th Quarter Market Report. We are in a very volatile market at the present time so do be cognizant that if you are considering buying or selling at the present time follow up on this information as you move forward to be sure you have the most up to date data.
To insure a consistent baseline to compare figures to I have made basic search criteria of 1 bedroom 1 bath minimum for Single Family resident search in Selkirk MLS. Figures used are ‘Median’ figures.
Prices for 4th quarter have declined, out of town, from 2020. When we look at ‘Days on Market’ graph below we might better grasp why ‘in town’ sales remained steady in 2022 when compared to 2021 rather than declining. What is clearly shown is a phenomenal increase in equity from 2019 to 2022, out of town, equity growth, even with the 2022 correction of market. The substantial jump from 2019 to 2020 most likely due to the beginning of covid and ‘City Population’ wanted out, and to have as much space between them and neighbors as possible. Boundary County / Bonners Ferry had many options to offer.
The ‘In City/Town’ prices show a 50% increase from 2020, holding in 2022 even thru the 2022 correction/adjustment. These prices are not showing signs of a crash. Not in any sense of the word. A much needed adjustment to the out of control inflation is what we clearly see here.
——————————————————-
As seen with Sandpoint Idaho 83864 You Tube 2022 Market Report ‘in city’ home sales declined, thus creating a supply and demand issue that helped over ride the fear factor of record mortgage interest rate increases. Days on Market decreased slightly from 2020 and 2021 falling between ’18 & ’19 which were both considered very healthy markets.
—————————————————
Number of homes sold showed an increase thru 2021 from 2018 &19 as would be expected. With the 2022 decline in number of homes sold, homes sold still out number 2018 and 19. Another indication of a still strong market. With the increased interest rates fewer buyers available, yet we have not turned completely to a buyers market. I want to emphasize that national, and local, numbers are not indicating a ‘crashing’ market.
———————————-
Above figures are considered accurate and dependable, obtained from Selkirk MLS, but are not guaranteed. To maintain a consistent base line with which to compare figures and results a very basic search is used: What ever city/area/zip code and minimum of 1 bedrm 1 bath required for Single Family homes.
As with Sandpoint Idaho 83864 there are many different ‘niches’ within the Bonners Ferry 83805 search. These figures and results will show trends and overall numbers. If you are looking to purchase or sell real estate now, or in the near future, be sure to contact me for up to date comparisons to your specific home and area. I can not emphasize the importance of doing so enough.