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Published by mike, 2019-08-15 14:51:54

AUGUST

AUGUST

Market Update
August 2019


Mortgage Rate Projections

Quarter Freddie Fannie MBA NAR Average
Mac Mae of All Four

2019 3Q 4.0 3.9 3.9 3.9 3.92%

2019 4Q 4.0 3.9 4.0 3.9 3.95%

2020 1Q 4.1 3.8 4.0 4.0 3.97%

2020 2Q 4.1 3.8 4.0 4.1 4.0%

7/2019


The Probability of Home Prices Being Lower in 2 Years

07/2019 Housing & Mortgage Market Review


Increase in Home Values 2005-2018

Realtor.org


4.1 PROJECTED

Mean Percentage Appreciation

3.4

2.8 3.0
2.5

2019 2020 2021 2022 2023

2019 Q2 Home Price Expectation Survey


27.7% Cumulative House
Appreciation

by 2023

16.8%

6.7%

Bulls All Projections Bears

2019 Q2 Home Price Expectation Survey


Case Shiller

6.5%

6.2%

6.0% Year-Over-Year PRICE CHANGES
20 City Composite
5.7%
5.5%

5.3% 5.2%

4.1% 3.7%
3.5% 3.5%

3.0%

May Jun Jul Aug Sep Oct Nov Dec Jan 2019 Feb Mar April

07/2019 S&P Case Shiller


Actual Year-Over-Year % Change in Price

7/2019 CoreLogic


Income Brackets for 25-44 Year Olds

12% 13%
$75k-99,999 $0-24,999

16% 8%
$60k-74,999 $25k-34,999

17% 14%
$45k-59,999 $35k-44,999


YTD (8/12/2019)
Single Family, Kootenai County

% of Market Share

$0-149,999 $150-199,999
14 Units 55 units
1% 3%

$250-299,999 $200-249,999
558 units 345 Units
28% 17%


YTD (8/12/2019)
Condo, Kootenai County

% of Market Share

$200-249,999 $250-299,999 $0-149,999
17 Units 9 units 18 Units
15% 8% 16%

$150-199,999
27 units
24%


Residential Sales Comparison Year over Year
All MLS

722

691

583 653 590
535 617 585

586

461 462 530
388
461 459

319311 307

324

Jan Feb March April May June July Aug Sept Oct Nov Dec

2014 Sold 2015 Sold 2016 Sold 2017 Sold 2018 Sold 2019 Sold

*Data provided by CDA MLS


Residential Snap Shot

January 1st , 2019-July 31st , 2019 Residential

Area 01 CdA Area Snap Shot 02 Post Falls Area 03 Hayden

Active Listings November 1st, 2018 – January 31, 2019 702
Homes Sold/Closed YTD 1332 Active Listings 1370 Active Listings 384
Avg Days on Market 86
Median Sales Price 772 Homes Sold/Closed YTD 779 Homes Sold/Closed YTD $353,000
Avg Sales Price $416,000
SP/OLP 83 Avg Days on Market 97 Avg Days on Market 98%

$315,000 Median Sales Price $283,000 Median Sales Price

$358,000 Avg Sales Price $311,000 Avg Sales Price

98% SP/OLP 99% SP/OLP

Area 04 Rathdrum/Twin Lakes Area 04a Hauser Lake Area 05 Athol/Spirit Lake NW Kootenai Co

Active Listings 517 Active Listings 36 Active Listings 179
Homes Sold/Closed YTD 280 Homes Sold/Closed YTD 21 Homes Sold/Closed YTD 100
Avg Days on Market 105 Avg Days on Market 74 Avg Days on Market 91
Median Sales Price $287,000 Median Sales Price $484,000 Median Sales Price $285,000
Avg Sales Price $326,000 Avg Sales Price $467,000 Avg Sales Price $313,000
SP/OLP 99% SP/OLP 98% SP/OLP 98%

Area Athol/Bayview 06 NE Kootenai Co Area 12 Silver Valley Area All Kootenai Co

Active Listings 94 Active Listings 341 Active Listings 4700
Homes Sold/Closed YTD 38 Homes Sold/Closed YTD 179 Homes Sold/Closed YTD 2505
Avg Days on Market 91 Avg Days on Market 109 Avg Days on Market
Median Sales Price $392,000 Median Sales Price $132,000 Median Sales Price 94
Avg Sales Price $400,000 Avg Sales Price $151,000 Avg Sales Price $308,000
SP/OLP 97% SP/OLP 95% SP/OLP $363,000

96%

*Data provided by Cda MLS


Year over Year by Zip code
Average Sold Prices

83801 334,000 417,000 +25%
83869
83858 328,000 352,000 +7%
83854
83835 341,000 364,000 +7%
83815
83814 318,000 323,000 +2%

423,000 471,000 +11%

325,000 346,000 +6.5%
497,000
-12%
566,000

Jul-19 Jul-18


Year over Year by Area
Average Sold Prices

Bonner/Boundary 369,000 +14%
Benewah 324,000

Cda Rural West 160,000 +3%
Chain Lakes/Harrison 155,000

517,000 826,000
+60%

394,000 468,000 +19%

CdA Rural East 890,090801,000 +10%

NW Kootenai 303,000 -8%
329,000

NE Kootenai 265,030905,000 +8%

Jul-19 Jul-18


Months of Inventory Analysis
Kootenai Site Built < 2 Acres
May 1st ,2019 through July 31st, 2019

350

300 290

250 201
147
200

151
150

100 95 84
87

75

53 48
50 42

15 18 1 1 2 2 3 23 2625 18 15 10 8 4 19 426 754 21 21
7 0 16 3 11 76 11 31 200 32
5
1 2 5

0

Active Listings Sold During Time Period Months of Inventory


Months of Inventory Analysis
Kootenai Site Built > 2 Acres
May 1st ,2019 through July 31st , 2019

35

30
30

25

21 21

20 19
1818

16 15
15

15 14 14
13

11 10 10 10 10

10 8 6
3
4 8 8 6
3 7 2 5
6 66
5 3 44 333 3 5 33 3
2 22 3
44

2

1 11

00
0

Active Listings Sold During Time Period Months of Inventory


Talking Points….

• Average DOM in Kootenai County In July were 78
• Median sold price in Kootenai county is up 10% from

this time last year, All residential
• Single family Kootenai County is also up 10%
• Single family on acreage is up 9%
• Waterfront residential Kootenai County is up 9% YTD

year over year
• Multi Family Kootenai County is up 22% YTD
• Condos are up 22% as well YTD


Months of Inventory Analysis
Residential Waterfront

May 1st ,2019 through July 31st, 2019

25

21 21
20

15

11
10

8 77 7 77 77 8
7 66 6

55 5 5 55 2
5 4 00
44 4 4 4
3 2
3 33 3 3
2 2
22 2

1 11 1

00 0 0
0

Active Listings Sold During Time Period Months of Inventory

*Data provided by Cda MLS


Months of Inventory Analysis
Post Falls Site Built < 2 Acres
May 1st, 2019 through July 31st , 2019

140

120 117

100

83

80
67

60
51 50
47 45

40

26

20 15 13

5 3 8 7 232 113 122 200 200
0 5 21

1 2 2 000 000

0

Active Listings Sold During Time Period Months of Inventory


Months of Inventory Analysis
Rathdrum Site Built < 2 Acres
May 1st, 2019 through July 31st, 2019

35
32

30

25

20
18

15
15

11

10 9

8

6

55

5 44

3 23 3

22

1 0 1 1
0 00 0 0 0 0 0 0

0

Active Listings Sold During Time Period Months of Inventory


Months of Inventory Analysis
Hayden Site Built < 2 Acres
May 1st, 2019 through July 31st , 2019

40 21
38

35

30
30

27

25

20
20

15 14
13

11 11

10 9 9 9

88 8

7 7 6
6

5 44

3 33 3 3 333
2 2
121 1
11
00 0 0
0

0

Active Listings Sold During Time Period Months of Inventory

*Data provided by Cda MLS


Months of Inventory Analysis
CDA Site Built < 2 Acres

May 1st , 2019 through July 31st, 2019

100
92

90

80
70 68

60 52
50 48

40
33

30 26
24

20 20 21 21

20 17
15

13 1212

10 8 98 645
3
4 1 1 2 3 223 443 5 010 2 2 2
22 2 1 00 0
1 1 000 0

0

Active Listings Sold During Time Period Months of Inventory

*Data provided by Cda MLS


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