The Landings at Waterford is a beautiful subdivision located in North Coeur d’Alene near the intersection of Prairie Avenue and Atlas Road. The Landings at Waterford began in 2004 and currently is 1/3 built. It is a large sub-division that will eventually encompass well over 2000 residential dwelling units. There are plenty of beautiful bike and walking trailings, wide streets and sidewalks and luscious parks and greenways. The Landings at Waterford is located within walking distance of shopping, fast food and Starbucks!
For the 3rd quarter of 2007, there were 18 homes closed and recorded in The Landings, 8 more are in pending status with 91 expired properties (homes that failed to sell for whatever reasons). There are currently 38 homes available for sale. Based on these numbers alone, The Landings at Waterford appears to have 6.5 months of inventory on the market. This means that if no more homes become available for sale, it will take 6.5 months to sell all of the homes that are currently available for sale.
We have to remember, there is another dynamic going on here. This is a community in which 2 builders are still building brand new homes. This means that although the numbers above show 6.5 months of inventory, it is more likely that The Landings is sitting closer to 9 months of inventory. Why? Because “to be built” homes, ones in which buyers can go and pick their lot and floor plan, are not included in the Multiple Listing Service numbers. This makes the numbers just a bit off.
The average sold price during 3rd quarter was $249,344, which was 98% of the listing price (still a very healthy number) with an average of 159 days on the market.
I’ve included a statistical CMA for your review – available in pdf.
Filed under: Market Reports | Tagged: coeur d'alene, landings at waterford, market report
