Market_Stats_Dec._2020

Market Update
December 2020

2019 vs 2020 YTD 6125 6289
All MLS
+3%
6646
6039

+10%

1139 -72%
338

For Sale Sold Pended

2019 - YTD 2020 - YTD

2019 vs 2020 YTD

Kootenai County Single Family
4267
3951 3947
3903

+.01%
+9%

-79%

581

122

For Sale Sold Pended
2019 - YTD 2020 - YTD

Single Family Kootenai County
Median Sales Prices

Single Family CDA Median Sales

Single Family Post Falls
Median Sales

Single Family Hayden
Median Sales

Single Family Rathdrum
Median Sales

Residential Snap Shot

January 1st, 2020- November 30th, 2020

Area Residential Snap Shot 03 Hayden
01 CdA Area 02 Post Falls Area
Active Listings 825
Homes Sold/Closed YTD November 1st, 2018 – January 31, 2019 659
Avg Days on Market 1,657 Active Listings 1,596 Active Listings 86
Median Sales Price $401,000
Avg Sales Price 1,379 Homes Sold/Closed YTD 1,364 Homes Sold/Closed YTD $513,000
SP/OLP 98%
83 Avg Days on Market 94 Avg Days on Market

$375,000 Median Sales Price $340,000 Median Sales Price

$438,000 Avg Sales Price $396,000 Avg Sales Price

99% SP/OLP 99% SP/OLP

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

Active Listings 750 Active Listings 61 Active Listings 313
Homes Sold/Closed YTD 579 Homes Sold/Closed YTD 41 Homes Sold/Closed YTD 222
Avg Days on Market 112 Avg Days on Market 76 Avg Days on Market
Median Sales Price $329,000 Median Sales Price $515,000 Median Sales Price 91
Avg Sales Price $374,000 Avg Sales Price $498,000 Avg Sales Price $334,000
SP/OLP 100% SP/OLP 98% SP/OLP $378,000

100%

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

Active Listings 149 Active Listings 442 Active Listings 5,835
Homes Sold/Closed YTD 109 Homes Sold/Closed YTD 315 Homes Sold/Closed YTD 4,663
Avg Days on Market 107 Avg Days on Market Avg Days on Market
Median Sales Price $445,000 Median Sales Price 97 Median Sales Price 94
Avg Sales Price $485,000 Avg Sales Price $170,000 Avg Sales Price $365,000
SP/OLP 96% SP/OLP $188,000 SP/OLP $462,000

97% 98%

*Data provided by Cda MLS

4.76 4.73 4.6 4.68 The number of mortgages in active
4.66 4.58 forbearance is decreasing dramatically

4.14 4.12 4.12 4.1 in millions

4
3.93 3.93 3.93
3.8
3.72 3.69
3.59 3.62

2.97 2.99 2.97 3.01
2.86
2.74 2.76 2.79

5/29 6/5 6/12 6/19 6/26 7/3 7/10 7/17 7/24 7/31 8/7 8/14 8/21 8/28 9/4 9/11 9/18 9/25 10/2 10/8 10/15 10/22 10/29 11/6 11/13 11/20 11/27

McDash Flash Forbearance Tracker

How does this correlate to our area?

• Average sold values for single family
in Kootenai county are up 24% from
this time last year

• Median values are up 16%
• Equity in homes should keep foreclosures low

“Such a frenzy of activity, reminiscent of 2006, raises
questions about a bubble and the potential for a painful
crash. The answer: There’s no comparison. Back in 2006,
dubious adjustable-rate mortgages taxed many buyers’
budgets. Some loans didn’t even require income
documentation. Today, buyers are taking out 30-year
fixed-rate mortgages. Fourteen years ago, there were 3.8
million homes listed for sale, and home builders were
putting up about 2 million new units. Now, inventory is only
about 1.5 million homes, and home builders are
underproducing relative to historical averages.”

Lawrence Yun

Chief Economist at NAR

% Change in Sales

from last year by Price Range

102.2%

79.9%

64.4%

37.6%

2.3%

-21.8%

$0-100K $100-250K $250-500K $500-750K $750K-1M $1M+
% -21.8% 2.3% 37.6% 64.4% 79.9% 102.2%

NAR

2019 YTD 140 sales over $1 Mill
2020 YTD 302 sales over $1 Mill

2019 YTD 25 sales over $2 Mill
2020 YTD 76 sales over $2 Mill

Talking Points….

❑Approximately 55% of closed sales are cash
❑Mortgage rates to remain low, any increase will be minimal
❑National sales values increased by approximately 7%
❑Local values far outpaced that increasing by double

Months of Inventory Analysis
CDA Site Built < 2 Acres

September 1st, 2020 through November 30th, 2020

70

62
60

60

50 43
40 39
30 36
33

22

20

14

10

10

6

2 10 4 3 10 10 10 00 00 10 00 4 4 21 12 3
00 0 0 11 1 0

0

Active Listings Sold During Time Period Months of Inventory

*Data provided by Cda MLS

Months of Inventory Analysis
Residential Waterfront

September 1st, 2020 through November 30th, 2020

25

21 21
20

15

10
88

66

54 4 4 5 55
4 44

3 33 3

2 22

11 1 11 1 1 11 11 11
0 00 00 0 0
00 00 00 00 00 00 0 0 0

Active Listings Sold During Time Period Months of Inventory

*Data provided by Cda MLS

Months of Inventory Analysis
Kootenai Site Built < 2 Acres
September 1st, 2020 through November 30th, 2020

250
238

209
200

158
150

128

100 93
77

50 44

31

22 17
20
20 6 9 30 20 40 10 40 41 15 9 11 8 5 13 13 25
0 0 31 21 21 21 1

0

Active Listings Sold During Time Period Months of Inventory

Months of Inventory Analysis
Kootenai Site Built > 2 Acres
September 1st, 2020 through November 30th 2020

25

22

20
20

18

16
15

13

11 10
10 9

77

5 5
2
54 4

3 33 3 3

2 22 2
2 2
1 11 1 0 1 11 11
1 0 00

00 0 00 0 00 0

0

Active Listings Sold During Time Period Months of Inventory

Months of Inventory Analysis
Post Falls Site Built < 2 Acres
September 1st, 2020 through November 30th , 2020

140

120 115
100

80 78

60 39
51 35

40

20 18

12

8

4 00 10 3 10 10 3 10 3 3 11 21 11 02
00 0 1 0

0

Active Listings Sold During Time Period Months of Inventory

Months of Inventory Analysis
Rathdrum Site Built < 2 Acres
September 1st, through November 30th, 2020

40

36
35 34

30
30

25

20

15
12

10

66
54

3
22

1
0 0 0 0 0 0 0 0 0 0 0 000 0 0 0 0 00 0
0

Active Listings Sold During Time Period Months of Inventory

Months of Inventory Analysis
Hayden Site Built < 2 Acres
September 1st, 2020 through November 30th, 2020

40

35 34
33

30 27

25
23

20

15 15
15

10 9
8

55 5

5

33

22222 2 2 22
11
1 0 0 0 0 0 11 0 11
0
00

0

Active Listings Sold During Time Period Months of Inventory

*Data provided by Cda MLS

Residential Sales Comparison Year over Year
All MLS

782 801 818 809

722 691 585
590
420 628 597

586 617 509
396
439 448

461 462

319 310

311
324

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

2015 Sold 2016 Sold 2017 Sold 2018 Sold 2019 Sold 2020 Sold

*Data provided by CDA MLS