SANDPOINT, IDAHO QUARTERLY MARKET TRENDS

SANDPOINT, IDAHO QUARTERLY MARKET TRENDS

Here's a look at what happened in Sandpoint, Idaho in the third quarter (Bonner County). I like the fact I can make some comparisons between the current quarter and the 2009 second quarter report and the third quarter in 2008.

This was actually not a bad quarter for Sandpoint homes (relative to the general state of the economy). We have seen an 11% increase in the number of homes sold and basically unchanged average sales price since the same time last year. The "remaining months inventory" has lowered in the under $250K range, which is encouraging, but the upper-end homes are still troubling...almost a three year inventory. Overall inventory has decreased 25% from the same period last year...a very good sign. A slow recovery appears to be happening in Sandpoint.

...on an unrelated note...Snow expected in the mountains above 2500' tonight. Ski season seems to be on track for a Thanksgiving opening on Schweitzer Mountain.