The Sandpoint, ID metro area housing market in February 2025 presents a complex landscape with varying trends across different metrics. The Median Sales Price has decreased to $599,900, reflecting a year-over-year decline of 7.2%. This downward trend in sales prices suggests a cooling in the market, potentially offering opportunities for buyers seeking more affordable options.

Conversely, the median Price Per Square Foot has surged by 21.1% year-over-year, reaching $420.40. This increase indicates that while overall sales prices have dropped, the value of space is rising, possibly due to demand for smaller, more efficient homes or premium features within properties.

The number of Homes Sold has decreased by 13.5% year-over-year, with only 45 Homes Sold in February 2025. However, Pending Sales have increased by 24.5%, totaling 66, suggesting a potential rebound in the coming months. New Listings have also seen a modest increase of 5.4%, with 78 new properties entering the market, contributing to a growing inventory that is up by 10.3% year-over-year, now at 288 homes.

The Months of Supply have dramatically increased by 140% year-over-year, now standing at 6.4 months. This significant rise indicates a shift towards a more balanced market, moving away from the seller's market conditions that have prevailed in recent years. The Median Days on Market have decreased by 12%, now at 65 days, suggesting that homes are still selling relatively quickly despite the increased supply.

The average sale to list ratio has improved slightly by 0.6% year-over-year, now at 96.6%, indicating that sellers are achieving closer to their asking prices. The sold above list ratio has also increased by 4.7%, now at 6.7%, showing that a small percentage of homes are still selling above the list price, likely due to competitive bidding on desirable properties.

Price Drops have increased by 1.8% year-over-year, now at 15.6%, reflecting sellers' adjustments to align with market conditions. Additionally, the percentage of homes going off the market in two weeks has risen by 5.4%, now at 24.2%, indicating that a significant portion of homes are still attracting quick interest from buyers.

Overall, the Sandpoint, ID metro area housing market in February 2025 is characterized by a decline in Median Sales Prices and a rise in Price Per Square Foot, alongside increased inventory and Pending Sales. These trends suggest a market in transition, with potential opportunities for both buyers and sellers as they navigate the evolving landscape.