December ’22 Real Estate Market Trends for North Idaho

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.