Sagle Homes Market Report

March 2019

Home sales in Sagle Idaho have been bouncing around for the past year.  The only item that seems pretty consistent is the # of sales monthly.  Since November of 2018 they have been 5 to 7 a month with both February and March of 2019 showing 7.  October 2019 spiked at 15 and March of 2018 was a bit stronger, than March 2019, at 9.  So the Sagle Homes Market Report March 2019 shows Sagle to be a bit unsettled.

Days on Market, for same time period, bounces around as much as the prices.  February’s jump in DOM can most likely be explained by the extreme cold weather.  The cold weather does not explain the February 2019 price surge.

With the drastic variance in both DOM and Sold Prices we need wait for summer to see where Sagle Market is going to settle.  Sagle homes for sale inventory has maintained itself relatively level the past few months although low overall.  If nothing changes with the inventory we will most likely see prices climb back to the higher January and previous years prices and then level off.  Only summer will tell.

Experience the Difference Living In North Idaho will make.  Contact me, Mark Don McInnes, as your local North Idaho Real Estate Resource.

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North Idaho Real Estate Market Report

 Number ‘Active’Listings 1st Quarter 2019

While inventories remain low the charts show ‘Active’ listings pretty stable through the 1st quarter.  February shows a reaction to the harsh weather for the most part.  Both Sandpoint and Sagle had 33% jumps from February Active Listings to March Active Listings.  This only bringing them back to January numbers.

Days on Market for all the shown areas has dropped dramatically for end of 1st quarter figures.  Many sellers have waited for spring / summer months.  This surprisingly has not changed the ‘active’ count status very much from January numbers.  April figures will need be looked at to determine if sellers have waited and priced too high and if inventory will increase or hold at its record low inventories.  Either direction will affect pricing.

What this report and Active Listing Price Report (Click Here) mean to you as a buyer or seller.  Home Inventories remain extremely low while showing signs of leveling off.  Buyers, expect prices to continue to climb.  Sellers, now is a good time to get on the market and take advantage of lack of competition.

Do keep in mind this report and others show general trends, not specific information for niche areas.  Buyers and Sellers, alike, are best served by asking for information directly relating to home style and geographic area.

Experience the Difference Living In North Idaho will make.  Contact me as your local North Idaho Real Estate Resource.  

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I have communicated before the diversity to be found both in housing and land characteristics, in North Idaho.  To give a standard baseline, to review with consistency, I put some basic parameters in with which all searches are based on:  $0 to $750,000.00, minimum 1 bedroom 1 bath, single family home.  Figures are always Median to a search, and not the average.  Search results from Selkirk MLS deemed reliable but not guaranteed.

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.

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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.

Experience the Difference Living In North Idaho will make.  Contact me as your local North Idaho Real Estate resource. 

Sandpoint City Market Report – December 2018

As with previous market reports I try to give some parameters to give guides lines and consistency.  83864 zip code includes an incredibly large diversification in homes, styles and land.  Sandpoint City Market Report includes in town Single Family homes with minimum of 1 bedroom and 1 bath.  With a maximum price of $750,000.00.  These parameters searched in Selkirk MLS.

Sandpoint is very much staying in line with the stated National trend of leveling off or even declining in some areas.  Sales remain strong in all of Bonner and Boundary Counties although showing a steady decline in activity since August 2018.  Sandpoint City’s figures bounce around a bit yet confirm that trend at least through December.

December home sales in Sandpoint City totaled 12.  A small decline from October’s 14 and November’13.  Days on Market jumped around from 105 in October, 62 in November, and December settled in the middle at 84.

Actual Median Home sold prices for December varied a great deal from listing price.  Median Sold price was at $259,893 compared to the median listing price of $341,000.  This huge difference seems to be common through out all the 7 different areas I do reports for.

While prices declined steadily from October, December 2018 showed an overall increase in median price of 11% from December of 2017.  Inventory available also decreased from 44 in October, 31 November, to 22 in December 2018.

What does this mean to Buyers and Sellers. I believe sales will remain strong.  The market, while seemingly leveling off a bit, still remains very much a sellers market.  As long as our inventories remain low, the prices will sustain at current levels.  Sellers need be cognizant of rising interest rates and not price too high.  Buyers need be prepared to act “now” when they find the home they want.

One stat I find interesting and will watch as we move out of winter months is the Selkirk MLS ‘Pending’ category. With no restrictions to vacant land, residential, or commercial.  Any sale pending.  In late August Pending’s were showing in the low 400’s.  September at 392, November 292 and December at 233.  A very good needle for overall activity.

No single market report can give anyone an accurate price estimate on their home.  They are meant as an insight to market conditions and trends.  If you would like a Broker Price Opinion on your specific home please do contact me.  We can talk and put something together more in line with your home.

Figures from Selkirk MLS do not represent all sales in Boundary and Bonner Counties.  There is also Coeur D’ Alene MLS as well as “For Sale by Owner”.

Experience the Difference Living in North Idaho will make.  Contact me as your local North Idaho Real Estate resource.  Mark Don McInnes