Idaho county real estate season around the corner

For those who like to keep track of various market data that can provide insight into the economic conditions of the real estate industry in the area of Idaho County, I’d like to share information I’m able to glean from the Lewis Clark Multiple Listing System. 

All but 3 real estate agencies in the Idaho county territory are members of the local board of realtors.  Harman Agency in Cottonwood, Solberg Agency of Grangeville and Wolfinger Land and Auction of Grangeville are the 3 that are independent agencies.  Data supplied as a economic indicator does not include the listings and sales of these three agencies, and therefore we are dealing with skewed results. 

The data I am providing is based upon the markets in Idaho County only, and does not include Orofino, Kamiah, Craigmont real estate activity, nor any other town that is not situated in Idaho County.

In tabulating information, I was able to enter all activities for the past 30 days and here are the current results:

SOLDS:  4 total in the past 30 days: Elk city vacant land (1), Grangeville homes (1), White Bird Manufactured home without land (1), and Kooskia home (1).   All the homes were sold at a price range between $75,000 and $92,700.  The Elk City land was a large tract of 70+ acres for a price of a bit over $400K.

In the past 30 days there were 32 new listings, 80% of those vacant land listings.

In the past 30 days there were approx 12 price changes on existing listings.  Most of these are corrections to make the listings more marketable and to match current economic conditions.

This is the end of this report.  in my opinion, our real estate season will be stable but buyers are savvy and new listings should be priced according to the market to get action. otherwise the homes and land - with some relevance to location and neighborhoods, will sit while other more appropriately priced properties and motivated sellers, will attract buyers and a sale will result. 

More marketing reports next month.