Here it is – this week’s “Week-in-Review” – an overview of what’s been going on in the Coeur d’Alene Area real estate market the past 7 days.
Criteria used for this real estate statistical market analysis:
- Residential Homes (no multi-family, vacant lots, mobile homes, commercial or businesses)
- Coeur d’Alene and Post Falls areas (no Hayden, Rathdrum, Athol, Hauser, Spirit Lake, etc.)
- Activity reported is only for the past 7 days (October 17th through October 24th 2011)
Coeur d’Alene and Post Falls Area Overview
- Active Homes for Sale 857
- Homes that went under contract (pending) 17
- Homes that closed escrow (changed owners) 13
- Homes that expired off the market 9
- Homes that were withdrawn from the market 1
- Average list price per square foot $114.60
- Average sold price per square foot $110.13
- Average days on market of sold homes 76
- Average list price $222,013
- Average sold price $211,828
Based on the past week’s numbers, here’s what it all means
- There are 66 weeks of inventory or 15 months (a serious buyer’s market)
- Homes that do sell are selling at 98% of the list price
What’s that mean for you?
- Sellers: price your home competitively based on solds, not gut opinion or perception of value. Make sure your home is in excellent condition. Do the work necessary. Don’t leave money on the table.
- Buyers: while you’ve got a lot of choices from sheer inventory, be wise, not foolish. Get a market analysis on the home you want from your agent so you know exactly what to offer to make that home yours.
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