December Market Trends
- There were 267 closed homes through the entire MLS for December
- 28.1% of the homes that closed were cash sales
- About 1/3 of the homes that closed were between $400k-$599k price range- Which is a higher price range than November
- 25 homes sold for over $1 million
- The price range with the most price changes was the $400k-$499k -same as November
- Sales for the month of December were down 48% from the same time last year
- Median sales price was the same price as November of this year @ $515,000
- However, the median sales price is still up 3.0% from December 2021
- There are now some new construction options in Rathdrum and Post Falls starting out at $364k
- For the closed properties for this month-
- 23.91% of them closed with being on the market 31-60 days and those homes closed within 95.18% of the original listing price.
- With 23.55% of them closed with being on the market from 61-90 days and those homes closed within 90.58% of the original listing price.
- 30.80% of them closed with them being on the market for 121+ days and those homes closed within 86.13% of the original listing price
- 12.68% of them closed with being on the market 91-120 days and those homes closed with 85.38% of the original listing price
- So break down on that for buyers – if you are looking for a deal, find a home that has been on the market for 91-120 days, on the flip side for sellers make sure you list your home at a fair market value to get a quicker sale because the longer it sits on the market the less a buyer is going to want to offer on it.
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