State of the Real Estate Market for Sandpoint & North Idaho 2011
By Gary Lirette, Business & Investing in the Inland Northwest
According to the Selkirk MLS, our market has a total of 2,677 various properties (condos, land, homes, timeshares) on the market. Average Days on Market: 305 Total Price: $799,187,649 Closed Sales January 1, 2011 – December 8, 2011: $190,495,221 Total List Price: $206,855,029 That is 970 sales with an average Days on Market of 166. These sales represent 92% of asking price. There are an additional 125 properties Pending, representing another $29,736,360 in sales. While historically this is roughly 100-200 below our averages during better years, it is significant considering that for 2010 we sold 940 for $200,536,119 in total sales, and in 2009 802 for a total of $181,738,748 for a year-to-year increase of 9.5%. By end of year, we should have also increased our percentages, showing a s...