MAY 22 STATS

Market Update
May 2022

Residential Snap Shot
January 1st, 2022- April 30th, 2022

Area 01 CdA Area 02 Post Falls Area 03 Hayden

Active Listings 495 Active Listings 470 Active Listings 269
Homes Sold/Closed YTD 337 Homes Sold/Closed YTD 344 Homes Sold/Closed YTD 176
Avg Days on Market Avg Days on Market Avg Days on Market
70 Median Sales Price 68 Median Sales Price 64
Median Sales Price Avg Sales Price $520,000 Avg Sales Price $605,000
$580,000 SP/OLP $573,000 SP/OLP $754,000
Avg Sales Price
$686,000 99% 98%
SP/OLP
99%

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

Active Listings 223 Active Listings 34 Active Listings 90
Homes Sold/Closed YTD 19 Homes Sold/Closed YTD 48
Homes Sold/Closed YTD 133 Avg Days on Market 130 Avg Days on Market 87
Avg Days on Market 76 Median Sales Price $725,000 Median Sales Price $545,000
Median Sales Price Avg Sales Price $711,000 Avg Sales Price $595,000
$510,000 SP/OLP 102% SP/OLP 98%
Avg Sales Price
$601,000
SP/OLP
99%

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

Active Listings 60 Active Listings 112 Active Listings 1,787
Homes Sold/Closed YTD 23 Homes Sold/Closed YTD 67 Homes Sold/Closed YTD 1,124
Avg Days on Market 67 Avg Days on Market 71 Avg Days on Market
Median Sales Price $699,000 Median Sales Price Median Sales Price 71
Avg Sales Price $839,000 Avg Sales Price $295,000 Avg Sales Price $550,000
SP/OLP 94% SP/OLP $294,000 SP/OLP $683,000

98% 98%

*Data provided by Cda MLS

Residential Sales Comparison Year over Year
All MLS

617 691 590 600
597 585 508

461 546 586

431 435

366 341 332204

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

2017 Sold 2018 Sold 2019 Sold 2020 Sold 2021 Sold 2022 Sold

*Data provided by CDA MLS

Kootenai County - Resale Single Family

Median Price Single Family Resale

Median Sales Price Cd’A Resale

Single Family Average Price Per Sq
Ft New Construction

• $500-699,999 $313 sqft
• $700-899,999 $374 sqft
• $900-1,499K $433 sqft
• $1.5k-$3m $594 sqft
• $3m + $848sqft

“The annual growth in
the U.S. index was the
largest we have
measured in the 45-
year history of the
CoreLogic Home
Price Index,” said Dr.
Frank Nothaft, chief
economist
at CoreLogic.

• Nationally, home
prices increased 20.9%
year over year in
March.

• No states posted an
annual decline in
home prices.

• The states with the
highest increases year
over year were
• Florida (31.4%)
• Arizona (28.7%)
• Tennessee (26.7%).

The CoreLogic HPI Forecast indicates that home prices
will increase Mo/Mo & Yr/Yr based on Aprils Data



But more important… Negative Equity fell

Negative equity peaked at 26% of mortgaged residential properties in the fourth
quarter of 2009, based on the CoreLogic equity data analysis which began in the
third quarter of 2009.

National Homeowner Equity

27%

HPI Top 10 Metros Change

• These large cities continued to
experience price increases in March

Top Markets at Risk of Home Price Decline

3 BIG reasons why ….

The Real Estate Market might cool but
not crash

• 1. Millennial Demand for Housing is Up,
With Gen Z Right Behind
• 1st time home buyers make up 31%

• 2. Supply Can’t Keep Up With Demand

• 3. Borrowers Are Less Likely To Default On
Their Mortgages

Foreclosures?
Context is Everything

• 1. There Are Fewer Homeowners in
Trouble

• 2. Most Homeowners Have Enough
Equity To Sell their homes

• 3. There Have Been Fewer
Foreclosures over the Last two Years
(forbearance worked)

• 4. The Current Market Can Easily
Absorb New Listings







Talking Points…

• Single Family Homes for sale in Kootenai Co are up 64% from last
month, and 27% from this time last year

• Homes sold are down 26% YoY

• Median Sold price is up 8.7% from last month & 33% YoY

• Land values in Kootenai County are up 44% YoY, but down from last
month 20%

Contact Us with Any Questions

With our local real estate market changing in 2022, you may have questions on how this will
effect you.

Inflation will force construction costs higher which will put upward pressure on new and
existing home prices. Low inventory of homes for sale will also continue to put upward

pressure on home prices.
Look for inventory of homes for sale to slowly rise as interest rates slowly go up. Local home

appreciate will moderate as the interest rates rise.

Mike McNamara, Realtor
ABR, CRS, GRI, CNE, e-PRO
Windermere Coeur d’Alene Realty

Cell 208-660-6320
[email protected]
www.HomesCDA.com