2nd Quarter Closings for Real Estate Transactions in the Area

Overall our numbers have increased from last quarter but comparing to the second quarter of 2019 they are down slightly.  It is still a very strong real estate market with low inventory, interest rates below 3%, and demand still very high.  We are seeing some homes sell within forty-eight hours of being listed.

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:  68 homes closed this past quarter with a total dollar volume of $35,645,160  Average sales price:  $524,194 and median sales price of $410,000.   Our average days on market for the first quarter is 118.

Surround area’s residential closings for first quarter:

Donnelly residential sales:  14 homes closed, $6,815,00 total dollar volume.  Average sales price: $486,786 and median sales price: $364,000 with an average days on market was 69.

Cascade residential sales:  15 homes sold with a total dollar volume of $3,270,500.  Average sales price:  $218,033 and median sales price of $130,000 with an average days on market to be 80 days.

New Meadows area residential sales:  8 homes closed.  $3,813,000 total dollar volume with an average sales price of $476,625 and median sales price of $432,500.  Average days on market was 294.

If you would like to know more about these closings or inquire about the value of your current home, please give me a call.

1st Quarter Real Estate Closings for 2020

This is a little late in reporting since we are already two months into the second quarter and a lot has happened in the past two months.  The world was changed by the Corona Virus, which put our real estate to a screeching halt at the end of March and then almost one month later the flood gates opened back up and real estate started flying off the shelf again.  It is an interesting world we live in and seems to continue to be so.

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:  50 homes closed this past quarter with a total dollar volume of $32,181,444  Average sales price:  $643,629 and median sales price of $409,500.   Our average days on market for the first quarter is 142.  This was over 14% increase of average sales prices from this quarter since last year’s first quarter!  The median price stayed about the same but days on market went down significantly.

Surround area’s residential closings for first quarter:

Donnelly residential sales:  10 homes closed, $6,235,100 total dollar volume.  Average sales price: $623,510 and median sales price: $403,100 with an average days on market was 162.  Prices are significantly up in this area on both average and median from last year.  It was a 43% increase in average sales prices from last year’s first quarter closings to this year’s.  It was a 16% increase in median sales prices from last year at its first quarter.

Cascade residential sales:  10 homes sold with a total dollar volume of $2,781,400.  Average sales price:  $278, 140 and median sales price of $282,700 with an average days on market to be 43 days. Slight increase in these numbers from last year’s first quarter but not significant.

New Meadows area residential sales:  9 homes closed.  $3,420,000 total dollar volume with an average sales price of $380,000 and median sales price of $405,000.  Average days on market was 96. Interestingly, these sales prices are down from last year’s first quarter, not significantly but both numbers down.

How the Corona Virus is Impacting Real Estate

Many people are wondering what will the COVID-19 virus do to the real estate market. Recently I listened to a podcast from the Brian Buffini show who was interviewing Dr. Lawrence Yun, the economist for the National Association of Realtors and his comments about the effect of this virus echoed what I believe to be true as well based on my experience in this market place for the past 21 years

Right now it feels like an economic quarantine, where everything is paused and this includes real estate transactions. Before all this started February homes sales were going strong, rising comfortably and still ahead of last years numbers. Over the past 12 months we have seen a real shortage in real estate inventory, which with the low supply there was a high demand, a strong Seller’s market.

The concern is that this economical quarantined will cause another recession. The stimulus plan should help keep those that have been out of work temporarily or lost their job regain some financial comfort. If we are like China and South Korea and are able to push the “play” button again within 60 days and we move past this crisis, our real estate market should be as strong as ever. The demand for homes is still there, unlike a decade ago where new home builders were averaging 2 million homes a year now they only averaging 1 million homes (the supply will still be low). Interest rates are incredibly low, so money will be cheap and the banks are much better prepared this time around. There is not the subprime market as we had seen in the past.

Our homes have become our “safe havens” Through self or mandated quarantines. We all have had to spend a lot more time in our homes than ever before. In this time, people are making improvements to them, cleaning them more, or possibly learning that they need something bigger or different once this is all over. Homeowners have not lost 30% of their value in the last 30 days. There is still a comfort in homeownership and a need for it. Our spring selling season is likely to be delayed into the summer but for this area that is a normal trend. Real Estate is on solid ground this time around and although delayed believe that it will be a robust buying season just around the corner.

Wrapping up the Real Estate Market for 2019

Wow, what another strong year in real estate it has been!

Boise Idaho was third for the hottest zip codes in real estate for 2019 according to Realtor.com.

Among last year’s top 10 hottest markets in America, there were some consistent factors driving their popularity, including: large numbers of high earning millennials scooping up homes, relatively affordable home prices and strong local job markets. As the #3 on this list, Boise had a median sales price of $289,950 with an average days on market of only 14 days.  Their job growth was as 2.9% and unemployment as only at 2.5%.

Another factor contributing to these hot housing market is residents have money to spend. On average, resident incomes in each of these areas are 6.5 percent higher than the national median. All these new residents are exploring the state and many are finding second homes in our area of McCall, Donnelly and New Meadows, which has seen a huge increase in our real estate market locally as well.

Here is a quick overview of how the real estate in our area has changed over the last couple of years, put together by the local Mountain Central Association of Realtors and does exclude timeshares, fractional and multifamily residential.

There has been a 14.79 % increase in the number of listings sold around McCall from 2018 to 2019.  Cascade has had a 3.51% increase, New Meadows has has a 31.58% increase and Donnelly is the only one who has seen a decrease of .85% in listings sold from 2018 to 2019.

The median sold price for McCall in 2019 was $405,950, this is up from 2018 which was at $370,000

The median sold price is Donnelly in 2019 was $321,575 this is also up from 2018 which was at $275,000

The median sold price in Cascade in 2019 was $266,950, this is quite higher than from 2018 which was at $162,500

The median sold price in New Meadows is 2019 was $295,000, and not surprising that this is also up from 2018 which was at $276,500

Our area has been on an upward projection in the real estate closings for many years.  The strong economy and low interest rates have been the major drivers of our real estate market remaining strong.  However, it has been the quality of life and surrounding beauty that drives people to this area and take on residency.

 

 

Second Quarter Real Estate Closings for the McCall and Surrounding Areas

I just realized that I didn’t get this report out when I completed it last month…Mid way into quarter three and things are still looking just as strong.  Inventory increased these last few weeks which has put a bit of a slow down initially but now has picked up again this week for pending sales.

Here are numbers for last quarter’s 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:  73 homes closed this past quarter with a total dollar volume of $41,450,296. Average sales price:  $567,812 and median sales price of $425,000.  Our average days on market for the first quarter is 109.  Across the board, real estate closings for second quarter in McCall are up significantly from last quarter.

Surrounding areas residential closings for first quarter:

Donnelly residential sales:  22 homes closed, $7,710,750 total dollar volume.  Average sales price: $350,489 and median sales price: $329,075 with an average days on market at 147.   These are slightly lower than first quarter.

Cascade residential sales:  17 homes sold with a total dollar volume of $4,075,450  Average sales price:  $239,732 and median sales price of $266,950 with an average days on market to be 91 days. Huge increase this quarter in the Cascade area for quantities and total dollar volume.

New Meadows area residential sales:  15 homes closed.  $4,666,900 total dollar volume with an average sales price of $311,127 and median sales price of $529,000.  Average days on market at 93. Although quantities are up from last quarter, average sales price stayed about the same.

If you have more questions about the closings in Valley and Adams County or previous quarter closings please visit this link.

1st Quarter Real Estate Closings for 2019 from New Meadows to Cascade

The deep snow and cold temperatures didn’t keep buyers from making their purchase in our area.  Across the board for all areas between New Meadows to Cascade saw increase in average and median sales prices.  Historically with other first quarters we have seen the same amount of quantities closing but just not these high of numbers.

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:  42 homes closed this past quarter with a total dollar volume of $23,259,130.  Average sales price:  $553,789 and median sales price of $409,000.   Our average days on market for the first quarter is 234.  The sales prices are up from last quarter, overall quantities are down but with the little inventory that we have seen this winter, demonstrates that if there isn’t a lot to buy and what is out there for sale is now at a higher price.

Surround area’s residential closings for first quarter:

Donnelly residential sales:  10 homes closed, $3,568,730 total dollar volume.  Average sales price: $356,873 and median sales price: $339,915 with an average days on market was 203.  Prices are significantly up in this area and are continuing to rise with the updates and promises of what is to come for Tamarack Resort.

Cascade residential sales:  7 homes sold with a total dollar volume of $1,932,000  Average sales price:  $276,000 and median sales price of $252,000 with an average days on market to be 131 days. This area has really seen an increase in prices from last quarter which was due to the lack of inventory as well.

New Meadows area residential sales:  5 homes closed.  $1984,000 total dollar volume with an average sales price of $396,800 and median sales price of $483,000.  Average days on market was 95. 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.

4th Quarter Real Estate Closings for 2018

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.

3rd Quarter Stats for Real Estate Closings Around McCall

It has been an incredible real estate market this year, so much so that I am behind in getting out the quarterly stats for the closings in our area.  But after putting together the closing information for the this past quarter and comparing it to last year, I am shocked and therefore must spend some energy catching up on the first and second quarter closings as well.  I was expecting to see huge increases in the McCall market this quarters year over year sales but instead I am seeing declines!  I am completely shocked and thinking that we must have seen majority of our increases over the first two quarters verses this one.  Stay tuned, I will have those numbers out soon!  In the meantime, here are the real estate closings for the third quarter.  These include only single family homes, condos and town homes, and does not include fractional, timeshares or auctioned properties.

McCall residential sales:  117 homes closed this past quarter with a total dollar volume of $50,174,100.  This is down both in dollar volume and number of closings compared to last year’s third quarter. Average sales price:  $428,838 and median sales price of $380,000.  (Average sales price is down significantly but median sales price is way up).  Our average days on market was only 112 days, which is down from last year.

Surround area’s residential closings for third quarter:

Donnelly residential sales:  33 homes closed, $9,355,050 total dollar volume.  Average sales price: $283,486 and median sales price: $254,000 with an average days on market was 116. The number of closed home and median sales price is about the same year over year but average price is up.

Cascade residential sales:  33 homes sold with a total dollar volume of $6,517,395.  Average sales price:  $197,497 and median sales price of $175,000 with an average days on market to be 99 days. These are all stronger numbers than year over year and much lower average days on market.

New Meadows area residential sales:  13 homes closed.  $4,275,000 total dollar volume with an average sales price of $328,846 and median sales price of $283,000.  Average days on market was 110. Closed transactions were slightly up  year over year.

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.

This was compiled through our local MLS.

 

4th Quarter Stats for 2017 Real Estate Closings

In general the fourth quarter slowed down for real estate closings in McCall, Idaho and all the surrounding communities (Donnelly, Cascade and New Meadows) in comparison to the third quarter.  This is not completely unusual considering the seasonal nature of our communities but also do the lack of inventory that we saw this fall.  When you look at McCall, which has the highest units sold and dollar volume of the communities, based on current inventory available and what we have seen closed consistently over the last year, we have 3.9 months worth of inventory. This absorption rate is closely related to our average days on market which is around 4.3 months.

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:  71 homes closed this past quarter with a total dollar volume of $41,689,095.  Both of these numbers are down from last quarter but dollar volume is much higher than last year’s fourth quarter.   Average sales price:  $587,170 and median sales price of $349,000.  this is up from last quarter.  Our average days on market has lowered to 131 days.

Surround area’s residential closings for fourth quarter:

Donnelly residential sales:  17 homes closed, $3,987,850 total dollar volume.  Average sales price: $234,579 and median sales price: $166,000 with an average days on market was 130.  Overall this quarter is down from last quarter for Donnelly area, however average days on market has dropped slightly which might be due to lowering prices.

Cascade residential sales:  19 homes sold with a total dollar volume of $3,622,400.  Average sales price:  $190,653 and median sales price of $170,000 with an average days on market to be 132 days. Sales numbers and volumes are down this quarter but average and median prices are up slightly.

New Meadows area residential sales:  12 homes closed.  $2,467,250 total dollar volume with an average sales price of $205,604 and median sales price of $186,500.  Average days on market was 213. This area probably showed our biggest change for this quarter with total dollar way down and average and median prices almost dropping by half.

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.

McCall Area Real Estate Update

Its been a very busy third quarter for real estate closings in McCall, Idaho and all the surrounding communities (Donnelly, Cascade and New Meadows).  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.  Click here to a link that shares the data of existing homes sales from the National Association of Realtors.

McCall residential sales:  107 homes closed this past quarter with a total dollar volume of $52,582,245.  This is the highest dollar volume closed that I have seen in the past four years. Average sales price:  $491,423 and median sales price of $330,000.  Our average days on market was only 141 days. Average and median sales prices were up significantly from last year’s third quarter.

Surround area’s residential closings for third quarter:

Donnelly residential sales:  33 homes closed, $9,033,600 total dollar volume.  Average sales price: $273,745 and median sales price: $224,000 with an average days on market was 141. The number of closed home and median sales price is up significantly year over year but average prices is down.

Cascade residential sales:  24 homes sold with a total dollar volume of $4,661,127.  Average sales price:  $194,214 and median sales price of $158,850 with an average days on market to be 137 days. Number of closed sales is the same year over year however average and median prices are up.

New Meadows area residential sales:  10 homes closed.  $3,766,500 total dollar volume with an average sales price of $376,650 and median sales price of $340,000.  Average days on market was 81. Closed transactions were slightly down  year over year but average and median prices almost double!

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.

About Cory

Cory grew up in Alaska where after graduation was nominated into the Olympic Education Center in Northern Michigan University where she was offered the opportunity to train for biathlon (cross country skiing and shooting) and go to college.  Later she qualified for the United States National Biathlon Team and traveled and raced all over the world for over 6 years. Having been drawn to the outdoors all her life, McCall was a natural fit for her when she moved to the area in 1998.

Cory’s lovely family consists of her husband, Jim, her son, Cyrus, daughter, Ellie and their Walker Coonhound, Copper and Cat, Twinkle.

Cory and her family love to wake surf on Payette Lake, snowboard at Tamarack and Brundage Mountain, snowmobile in the back country, and mountain bike on all the amazing single track trails in the area.

During the winter season, you will find Cory coaching the McCall Nordic and Biathlon team at Jug Mountain Ranch.

Contact Cory

McCall Real Estate Company
cory@corbetproperty.com
(208) 630-3283

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