Market Update May 2023
*Data provided by Cda MLS Residential Snap Shot January 1st, 2023- April 30th, 2023 Area 01 CdA Active Listings 583 Homes Sold/Closed YTD 229 Avg Days on Market 81 Median Sales Price $540,000 Avg Sales Price $592,000 SP/OLP 93% Area 02 Post Falls Active Listings 567 Homes Sold/Closed YTD 270 Avg Days on Market 96 Median Sales Price $464,000 Avg Sales Price $552,000 SP/OLP 94% Area 03 Hayden Active Listings 275 Homes Sold/Closed YTD 98 Avg Days on Market 91 Median Sales Price $594,000 Avg Sales Price $695,000 SP/OLP 93% Area 04 Rathdrum/Twin Lakes Active Listings 419 Homes Sold/Closed YTD 117 Avg Days on Market 132 Median Sales Price $484,000 Avg Sales Price $581,000 SP/OLP 96% Area 04a Hauser Lake Active Listings 56 Homes Sold/Closed YTD 16 Avg Days on Market 111 Median Sales Price $775,000 Avg Sales Price $761,000 SP/OLP 94% Area 05 Athol/Spirit Lake NW Kootenai Co Active Listings 85 Homes Sold/Closed YTD 28 Avg Days on Market 86 Median Sales Price $438,000 Avg Sales Price $587,000 SP/OLP 96% Area Athol/Bayview 06 NE Kootenai Co Active Listings 55 Homes Sold/Closed YTD 19 Avg Days on Market 187 Median Sales Price $1,000,000 Avg Sales Price $920,000 SP/OLP 96% Area 12 Silver Valley Active Listings 164 Homes Sold/Closed YTD 67 Avg Days on Market 89 Median Sales Price $293,000 Avg Sales Price $301,000 SP/OLP 92% Area All Kootenai Co Active Listings 2,208 Homes Sold/Closed YTD 809 Avg Days on Market 99 Median Sales Price $515,000 Avg Sales Price $629,000 SP/OLP 94%
341 324 461 435 586 617 396 691 585 590 344 266 199 249 346 313 Jan Feb March April May June July Aug Sept Oct Nov Dec 2018 Sold 2019 Sold2 2020 Sold 2021 Sold2 2022 Sold 2023 Sold2 Residential Sales Comparison Year over Year All MLS *Data provided by CDA MLS
All MLS Single Family Median Sold value by week 546,000550,000 472,000 519,000 530,000 451,000 505,000 550,000 525,000 22-JAN 29-JAN 5-FEB 12-FEB 19-FEB 26-FEB 5-MAR 12-MAR 19-MAR 26-MAR 2-APR 9-APR 16-APR 23-APR 30-APR Median Sold $
All MLS Single Family Average Sold value by week 620,000653,000 514,000 565,000 878,000 544,000 602,000 723,000 731,000 22-JAN 29-JAN 5-FEB 12-FEB 19-FEB 26-FEB 5-MAR 12-MAR 19-MAR 26-MAR 2-APR 9-APR 16-APR 23-APR 30-APR Average Sold $ *Data Provided by TrendGraphix
Kootenai Single Family Average Sold value by week 582,000 687,000 555,000 579,000 1,102,000 545,000 664,000 742,000 853,000 22-JAN 29-JAN 5-FEB 12-FEB 19-FEB 26-FEB 5-MAR 12-MAR 19-MAR 26-MAR 2-APR 9-APR 16-APR 23-APR 30-APR Average Sold $ *Data Provided by TrendGraphix
Kootenai Single Family Median Sold value by week 545,000 572,000 475,000 524,000 573,000 453,000 572,000 645,000 543,000 22-JAN 29-JAN 5-FEB 12-FEB 19-FEB 26-FEB 5-MAR 12-MAR 19-MAR 26-MAR 2-APR 9-APR 16-APR 23-APR 30-APR Median Sold $
Kootenai Single Family Pending by week 56 43 63 53 44 41 69 65 70 22-JAN 29-JAN 5-FEB 12-FEB 19-FEB 26-FEB 5-MAR 12-MAR 19-MAR 26-MAR 2-APR 9-APR 16-APR 23-APR 30-APR Pending Sales *Data Provided by TrendGraphix
Kootenai Single Family New Listings by week 53 75 59 71 78 72 96 111 95 22-JAN 29-JAN 5-FEB 12-FEB 19-FEB 26-FEB 5-MAR 12-MAR 19-MAR 26-MAR 2-APR 9-APR 16-APR 23-APR 30-APR *Data Provided by TrendGraphix
Average Sales Price All MLS $610,245 $880,000 $1,904,000 $567,000 $870,750 $1,768,000 $566,000 $858,000 $2,188,000 Res <2 Ac Res >2 Ac Res H2O *Data provided by Coeur d’Alene MLS Compares 2022 Year end to 1 st Qtr 2023 YTD 5/9 -7% -1% -8% -1.5% +20%
2022/2023 Average Sales Price All MLS 331,000 585,000 736,000 337,418 485,000 500,833 $307,000 $484,000 $542,000 Vacant Land Condo Multi-Family *Data provided by Coeur D’Alene MLS +2% -21% -47% Compares 2022 to 2023 1st Qtr to 2023 YTD -10% +8%
% Change in Median Sold Values Kootenai County all Residential 290,000 320,000 375,000 501,000 555,000 515,000 2018 2019 2020 2021 2022 2023 YTD 10% 17% 34% 10% -8% 5/9/2023
Median Sales Price Change by County YTD All Residential --18% -8% -14% -5% +1.7% Benewah Kootenai Bonner Boundary Shoshone $425,000 $535,000 $515,000 $300,000 $258,000
Median Sales Price Change by County YTD All Residential --18% -8% -14% -5% +1.7% Benewah Kootenai Bonner Boundary Shoshone $425,000 $535,000 $515,000 $300,000 $258,000
Talking Points from Idaho Department of Commerce Jeremy Chase Idaho Ranks – #1 in growth in travel $ and Jobs – #1 least regulated state in US – #3 Lowest unemployment levels – #3 Broadband investment among other states – #4 lowest Energy costs – #8 most tax-friendly state 84%of tourism spending is generated from Out-of-state visitors $1.145 Billion in direct travel spending in Region 1 (North Idaho)
Year-Over-Year Home Price Growth Slows to Lowest Rate Since 2012 *Data provided by CoreLogic
Talking Points • North Idaho (Boundary, Bonner, Kootenai, Shoshone & Benewah County) • New Construction ▪ New Listings are up 53% ▪ Pending Sales are up 68% ▪ Closed Sales are down 18% ▪ Days on Market is up 19% (137) ▪ Median Sales Price is down 5.8% (588,663) ▪ Average Sales Price is up 5.8% ($802,484) ▪ Months of Inventory is up 181% ( 4.5 MOI)
Talking Points • North Idaho (Boundary, Bonner, Kootenai, Shoshone & Benewah County) • Re-Sale ▪ New Listings are down 15% ▪ Pending Sales are down 5% ▪ Closed Sales are down 36% ▪ Days on Market is up 37% (73) until pending ▪ Median Sales Price is down 8.4% (531,000) ▪ Average Sales Price is down 15% ($608,227) ▪ Months of Inventory is up 100% ( 2.8 MOI)
Mike’s Local Real Estate Market Forecast for 5-14-2023 With our local real estate market changing in 2023, you may have questions on how this will effect you. Mike’s forecast for 2023. Inflation is trending downward. As interest rates trend downtown, home mortgage rates will also trend downward. As the interest rates come down, our local real estate market activity will increase. Home prices are stabilizing and look for home prices to increase slightly next year. Questions? Comments? Contact Mike. Mike McNamara, Realtor ABR, CRS, GRI, CNE, e-PRO Windermere Coeur d’Alene Realty Cell 208-660-6320 [email protected] www.HomesCDA.com