Mark Don McInnes Sandpoint Realty 208-255-6227

Tag: SandpointMarketReport

  • Sandpoint City Homes for Sale February 2018 – ‘83864’

    Sandpoint City sits within the zip code of 83864.  A very large area, with so much diversification it is very difficult to give any one single report that is accurate to all that is available in the 83864 area code.  Currently there are 32 Sandpoint City Homes for Sale.  Basic criteria for search results below.

    Criteria, for Selkirk Multiple Listing Search, MLS, is basic.  $750,000 maximum list price.  1 bedroom 1 bath minimum.  Searched as ‘in Sandpoint City’.  Single Family, Condos, Townhouses all included.  The search results do not include ‘For Sale by Owner’ or Coeur D’ Alene MLS results.  The results do show the trend though, that will be consistent without those results added in.

    Sandpoint City Homes for Sale

    January 2016 showed 4 homes sold.  Median Price of $153,000.  120 days on market.  January 2017 showed 2 homes sold with a Median Price of $174,500 and 66 days on Market.  An impressive 14Sandpoint City Homes for Sale% increase in ‘Sold’ price for the one year.

    1st quarter 2016 has 20 homes being sold with a median sold price of $209,000.  And 125 days on market.  1st quarter 2017 shows 18 homes sold with modest increase for median sold price of $218,000.  98 days on market.

    January 2018 has me shaking my head.  I went back twice to double check the results, along with active presently available.  8 homes sold.  Double that of 2016 and 4 times as many 2017.  Median sold price of $230,000 with days on market at 122.  An impressive 24% increase in median sold price.  With the 8 homes sold this January, Sandpoint City is easily on track to surpass sales for 1st quarter of both 2016 and 2017.

    Current inventory of 32 with January Sold’s at 8, along with the 122 days on market shows a 4 month inventory.  What is phenomenal is the median listing price at the current time.  $314,450.00.  While not the sold price, it is 44% above the median sold price of 2017’s $218,000.00.  Incredible.

    I do not for see Sandpoint City Home Sales slowing.  I question whether they can sustain, or realize, the jump in market price that is showing between current listing price and even sold’s of just one month ago.  While great for sellers it is putting a strain on buyers and the market in general.

  • What is my Sandpoint City Idaho 83864 Home Worth? January 2017 Market Report

    Sandpoint Idaho 83864 sits on the northern most shores of Pend Oreille Lake (pronounced – Ponderay).  The Long Bridge entering Sandpoint from Sagle Idaho is considered the official line of where Lake Pend Oreille turns to Pend Oreille River.  2016 Consensus estimates Sandpoint City population at approximately 7,700 of the total 83864 population of 18,450.  With the dramatic diversity in 83864 topography and home styles I prefer giving two separate Sandpoint 83864 Market Reports in an effort to make comparisons a bit more in line without quite so much difference in land and home features.  Sandpoint City & Out of Town. This report being Sandpoint City. 

    Sandpoint City Single Family Homes ‘SOLD’: 

    Sandpoint City Sales

    December 2015 – 10,  January 2016 – 2, December 2016 – 10,  January 2017 – 2

    Sandpoint City Single Family Home Sale Median Price:

    Sandpoint City Sales

    Dec ’15 – $222,500,   Jan ’16 – $123,000, Dec ’16 – $207,450,  Jan ’17 – $174,500

    Sandpoint City Single Family Home Sales Median DOM (Days on Market)

    Dec ’15 – 112,   Jan ’16 – 89,   Dec ’16 – 93,  Jan ’17 – 100

    What do the above figures tell us?  Dec ’16 median prices dropped 6.75% compared to Dec ’15 while Jan ’17 showed an increase over Jan 16 of 41%.  While a nice increase from a year ago still a substantial decrease from previous month.  I think what is important to look at here is the number of transactions.  They are showing very consistent with January drop in sales due to Holidays and winter months.  In real estate results do not show themselves until 45 to 60 days later.  Another words the ‘2’ transactions for December for ’15 and ’16 indicative of slowdown beginning Thanksgiving.  February 1st showed a healthy Median active price of $290,000 with 37 active homes.  As we Sandpoint City Home Salesmove out of holiday and winter months we will have a more telling look for sales in Sandpoint City for the year 2017.   My opinion is consistent transaction numbers, compared to last year,  with a small increase in Median ‘Sold’ price.

    All indicators still show the market as a sellers market.  Although these broad figures are excellent for spotting trends, to best find “What your Sandpoint City, Idaho home is worth” you should have a personalized Home Value Report completed specific to your home.  Contact me now for your FREE No Obligation Home Value Report.

    With Feb 1, 2017 Sandpoint City Single Family homes for sale numbering 37 there is currently over a 5 month inventory available if we average December and January sales.  Take into consideration increased sales as we move from winter months, and this shows itself holding true with the DOM (4 months discussed) average of 98.

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