The real estate market in this area continues to remain strong however the lack of inventory has really pushed the numbers down in some areas, especially McCall for the fourth quarter. Other of the surrounding areas have really seem strong improvements in their real estate closings and have benefited from the lack of inventory in McCall.
The announcement of the new owners of Tamarack Resort will also have a big impact on the real estate around Tamarack and Donnelly. The new owners will be not only making improvements to the existing resort but also bringing on new inventory of homes and condos. Please contact me for the most recent updates on these upcoming properties.
Here are numbers for last quarters real estate residential closings for these areas; the closings do not include timeshares, fractional ownership or state lease sales. These numbers are brought to you by our local Mountain Central Association of Realtors MLS.
McCall residential sales: 78 homes closed this past quarter with a total dollar volume of $38,913,616. Both of these numbers are down from last quarter of 2017. Average sales price: $498,893 and median sales price of $370,500. This is also down from last year’s final quarter. Our average days on market has lowered to 124, which indicates that although overall numbers are down, properties that come on the market are selling more quickly…primarily due to lack of inventory.
Surround area’s residential closings for fourth quarter:
Donnelly residential sales: 23 homes closed, $6,142300 total dollar volume. Average sales price: $267,057 and median sales price: $235,000 with an average days on market was 87. Overall this quarter is significantly up from last quarter of 2017 for Donnelly. In my opinion, it shows that due to lower inventory in the McCall area, people have been searching surrounding towns as well.
Cascade residential sales: 14 homes sold with a total dollar volume of $2,122,000. Average sales price: $151,571 and median sales price of $146,000 with an average days on market to be 149.days. Sales numbers and volumes are down year over year for this area.
New Meadows area residential sales: 15 homes closed. $4,529,000 total dollar volume with an average sales price of $301,933 and median sales price of $215,000. Average days on market was 143. This area has shown significant growth in this quarter compared to last year. Once again, proving my opinion that due to lack of inventory in the McCall area people are considering properties in surrounding areas.
If you have more questions about the closings in Valley and Adams County or would like to learn more about selling your home in today’s market please give me a call or email.