We are about half way through the 2016/17 Schweitzer Mountain Resort Ski Season. Having just enjoyed the MLK weekend with the Northern Lights celebration there is still much to look forward to on Schweitzer Mountain. Timing is just right to have your own condo in time for spring skiing end of this season. There is a wide variety of Schweitzer Ski Condo’s to choose from.
Presently there are 13 Schweitzer Ski Condo’s for sale listed under, $300,000. Prices range from low of $81,500 to high ( in this search bracket ) of $279,500.
*Total 13*
*Bedrooms: Studio – 4 , One – 4, Two – 3, Three – 2
Sq. Ft: Low – 320, High – 1,212
DOM: Average – 149, Median – 74 Least – 7, Longest – 449
Pricing: Average – $174,523.00, Median – $164,900.00
Past Schweitzer Ski Condo sales show the market to be steady with prices and transactions improving.
4th quarter 2015 has 6 sold with average sales price of $141,975.
1st quarter 2016 showing 6 sold with average sale price of $222,966.
4th quarter 2016 showing 10 sold with average sale price of $216,680.
Present sales for 2017 showing 1 sold at price of $120,000.
With the current inventory of below $300,000 Schweitzer condo’s at 13 the absortion rate is just over 6 months based on 1st quarter sales of 2016. If we take into account the prices holding firm from 1st quarter 2016 to 4th quarter 2016 and the increased transactions from 4th quarters of 2015 and 2016 I believe we should look more to a 4 to 5 month absorbtion rate. While we would like to take the 4th quarter sales of 2016 for absorbtion rate, sales do typically slow 1st quarter on a ski resort.
While this may appear to be bad news for buyers it is not. Interest rates are still at all time lows, between 3.8 and 4. Condo prices for a ski resort condo are still an excellent value. Schweitzer Mountain Resort continues to make improvements that will only increase property values of all on the mountain.
All information researched from Selkirk MLS and considered reliable but not guaranteed. Schweitzer Ski Condo’s sold outside of Selkirk MLS not included in this Market Report for Condo’s and Townhomes under $300,000 at Schweitzer Ski Resort.
Temperatures are supposed to warm a bit with the new snow coming in later this afternoon supposedly accumulating up to 3 to 5 inches. Personally I prefer the snow and warmer temps to the near zero and constant concern of frozen pipes. So I will most likely be working on snow removal late today or early tomorrow morning, along with many others in the North Idaho and Sandpoint Idaho areas, and doing so knowing it is preferred over the zero temps.