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Prices Increased with Auctioned Payette Lake Lots this Year

The Idaho Department of Lands recently released information on their latest auction of 30 Payette Lake lots sales. The sale took place in Boise on August 19th during a public auction. The sale generated over $12,605,500 for the endowment funds that support the Idaho public school systems and State hospital south.

The Idaho Constitution requires a public auction for the disposal of state endowment trust lands, and IDL can accept no less than the appraised value of the properties.

Sales from last year’s auction ranged from $40,000 – $68,000 for second and third tier lake front lots, sales of similar lots this year ranging from $55,000 – 83,000. Lake front lots last year went $480,000 – $1,155,000, this year’s sales of lake front ranged from $400,000 – $1,570,000.

There were three lots last year that were not able to sell at auction, two of the three went up for auction again this year and sold with a higher sales price than the minimum reserve that was not met last year.

2230 Payette Drive sold this year for $872,000 – last year there was no sale at $860,000.
990 Pine Haven sold this year for $72,000 – last year there was no sale at $70,000.

This is very consistent to what we are seeing in McCall’s real estate market this year. Our average sales prices are increasing and inventory shrinking. This year’s State auction will continue to nudge our real estate prices up in the McCall Area.

For more information about Idaho Department of Lands Payette Lake Cottage Sites Auction please email me at cory@corbetproperty.com.

1st Quarter for 2016 Real Estate Closings for our Area

It has been a fantastic winter here in McCall and surrounding area, with one of the best snow packs in almost seven years and lots of people in town; it brought another great first quarter of real estate season behind us.

Here are numbers for last quarters real estate closings for McCall, New Meadows, Cascade and Donnelly. These numbers are brought to you by our local Mountain Central Association of Realtors MLS.

Residential sales:  41 homes closed, total dollar volume was $1,226,0175.  Average sales price:  $299,042 and median sales price of $282,000.  Our average days on market was 216 and median days on market was 165.

Land sales:  20 closed with an average sales price:  $79,861.

Surround area’s residential closings for first quarter:

Donnelly residential sales:  6 homes closed, $1,609,900 total dollar volume.  Average sales price: $268,317 and median sales price: $247,450 with an average days on market was 211, median days on market 233.

Cascade residential closed sales:  11 homes sold with a total dollar volume of $1,650,000.  Average sales price:  $150,082 and median sales price of $140,000 with an average days on market to be 216 days and median days on market 204.

New Meadows area residential closed sales:  5 homes closed.  $933,500 total dollar volume with an average sales price of $186,700 and median sales price of $205,000.  Average days on market was 147 and median days on market 101.

4th Quarter Stats for Real Estate Closings

Happy 2016! Another quarter is behind us and as we review our end of quarter stats for real estate closings around McCall and surrounding areas, we see an overall drop in average sales price based on the previous quarter but year over year we could easily see an increase across the board. Our seasonal trends really effect our average sales prices each quarter. Please feel free to call or email to discuss in more details any of this data or general real estate information and trends for our area.

McCall’s closings for the fourth quarter:

Residential sales:  76 homes closed, total dollar volume was $23,424,050.  Average sales price:  $308,211 and median sales price of $206,000.  Our average days on market was around 173.  These numbers are down from our third quarter, with almost a 11% drop in average sales prices for the third quarter average sales price of $343,322.

Land sales:  23 closed with a total dollar volume around $4,907,150.  Average sales price:  $213,354 and median sales price of $92,500.  Our average days on market was around 362.  

Surrounding area’s residential closings for the fourth quarter:

Donnelly residential sales:  20 homes closed, $3,721,735 total dollar volume.  Average sales price: $186,087 and median sales price: $159,250 with an average days on market was 188.  The average sales price is down from last quarter almost 15%.

Cascade residential closed sales:  15 homes sold with a total dollar volume of $2,329,901.  Average sales price:  $155,327 and median sales price of $151,000 with an average days on market to be 161 days. Cascade saw an increases for the fourth quarter with a 1% increase in average sales price
over last quarter.

New Meadows area residential closed sales:  9 homes closed.  $1,204,079 total dollar volume with an average sales price of $133,378 and median sales price of $84,000.  Average days on market was 148.  There was a pretty significant drop in average sales price of almost 45% from last quarter.

Information was put together from our local MLS.