Fall Real Estate Market Update

April 1 through Sept 30 is what is being reported on. New construction housing accounted for 29% of Residential Sold sales for the 6 month period ending September 2006, and for 28% of sales for the 6 month period ending September 2007.

For ALL residential sales during the same time periods, we note an approx 6% decrease in the total number of sales, 0.8% decrease in total sales volume, 5% increase in average sales price, and 4.5% decrease in median price.

These numbers reflect sales of ALL residential listings, from the inexpensive mobile homes on rented lots to the high end waterfront properties. In the 6 month period ending on September 30, 2006, sales prices ranged from $6,000 to $2,400,000, with an average of 102 days on market. For the 6 month period ending on September 30, 2007, sales prices ranged from $5,500 to $5,311,049, with an overall average of 120 days on market.

72% of the residential sales fall into the $100-299,999 Sales Price Range.

Figures for the six month period ending 9/30/07 show the highest percentage of sales to be in the $160-179,999 range, with approx. 13% of sales falling in that range, followed very closely by the $180-199,999 range at 12% of sales.

Comparison from Apr thru Sept of each year reported. Overall number of sales reported to MLS decreased by approx 17.5% from end of Sept 2006 to end of Sept 2007. Vacant land sales as reported to MLS decreased by 44%. Commercial and multi-family sales reported to MLS decreased by 36%. Overall residential sales decreased by approx 6%.

Inventory levels for the number of listings currently showing as active shows an increase of approx. 20% for all listing types for the 1 year period from end of Sept 2006 to end of Sept 2007. There is a 6.6% decrease in inventory levels for all listing types for the one month period from end of Aug 2007 to end of Sept 2007.

Current active inventory for Residential listings shows a 9% decrease for the one month period from end of Aug 2007 to end of Sept 2007. There is a 23% increase in residential inventory levels for the one year period from end of Sept 2006 to end of Sept 2007.

Right now is a great time to be a buyer! Contact me today for more information on area listings.

http://www.BuyAndSellNorthIdaho.com