Sandpoint Idaho, and surrounding cities, in Bonner County of North Idaho showed consistent home sales in February 2015 when comparing to those of February 2014. 25 residences were sold in 2014 compared to 23 in 2015.
Positive movement in both Price and Days on Market
Average Price for February 2014 was $287,744.00 with the median price at $210,000.00. Average 'Days on Market' at 199 and median at 149. In February 2015 we saw an 'average price' of $360,465.00. A large jump in average while the median remained at $210,000.00. February 2015 saw a large drop in 'Days on Market' with an average of 162 and median of 99.
Homes on the lower end are selling when properly priced. Inventory is down which is good for sellers, when they have their home property priced in the market. Lower 'Days on Market' is also indicative of a need for buyers to react promptly when they see a well priced home they like. While this would lead one to believe home sales in Sandpoint should be up, it is my opinion buyers learned from these last few years and understand lack of inventory does not automatically mean a justified surge in market value. Sellers need understand this as well.
The current average 'days on market' being 192 and median at 161, both much above February 2015 numbers indicates not all sellers are aware of the importance of properly pricing their home when wanting to sell.
For more information specific to your North Idaho Home Value Contact: Mark Don McInnes 208 255-6227
Current Homes for Sale: http://www.SandpointNorthIdaho.com
Current News and Events: http://www.MDMSellingNorthIdahoRealEstate.com
All information from Selkirk MLS and deemed reliable but not guaranteed.