Sept2019

Market Update
September 2019

Kootenai Count

Average

Interest rate
dips to all
time low

Spring
Fall
Spring
Fall
Spring
Fall
Spring

2013 Avg S

ty Single Family

Sold Price Interest rate took
a jump … PANIC

Fall
Spring

Fall
Spring

Fall
Spring

Sold Price 2019

Kootenai Count

Units S

High
High High

LOW LOW
LOW

Spring
Fall
Spring
Fall
Spring
Fall
Spring

2013 Units s

ty Single Family

Sold

High High High
High

LOW LOW LOW

Fall
Spring
Fall
Spring
Fall
Spring

sold 2019

Kootena
Sold Vs. Ne

Single F

ai County
ew listings
Family

Kootena
Vacant

Sold Vs Ne

ai County
t Land
ew listings

2Single Family Ko

2ootenai County

Why does it feel like “e

everyone” is a Realtor





Lawrence Y

https://youtu.be/09-tNYbVQoA?t=1247
https://youtu.be/09-t

Yun says…..

tNYbVQoA?t=1247

What the expert e

• “As we look ahead to the n
to recognize how unusual t
caused the last one, and w
housing market today. Rath
we have a shortage of new
risky borrowers taking on a
we have buyers with sterlin
predictable 30-year fixed-ra
market is simply much less
ago.”

• Zillow Economist, Jeff Tucke

economists say….

next recession, it’s important
the conditions were that
what’s different about the
her than abundant homes,
w home supply. Rather than
adjustable-rate mortgages,
ng credit scores taking out
ate mortgages. The housing
risky than it was 15 years

er

Top 3 Triggers fo
Trade P

Stock Marke

Geopolitic
Coming in
Housing S

https://pulsenomics.com/surveys/#home-price-expectati

or next Recession
Policy

et Correction

cal Crisis
n at #9 …
Slowdown

ions

When Will Next U.S

46%

21%

2019 2020

S. Recession Begin?

24%
10%

2021 After 2021

Pulsenomics, Duke, NABE and WSJ





4.1 PROJE

Mean Percent

2.8
2.

2019 2020 20

ECTED 3.4

tage Appreciation

3.0
.5

021 2022 2023

Home Price Expectation Survey 2019 2Q

Mortgage Rate Pr

Quarter Freddie Fannie
Mac Mae

2019 3Q 3.9 3.7

2019 4Q 3.9 3.7

2020 1Q 3.9 3.7

2020 2Q 3.9 3.7

rojections

MBA NAR Average
of All Four

3.9 3.8 3.82%

3.9 3.8 3.82%

3.9 3.9 3.85%

3.9 4.0 3.87%





Residenti

January 1st , 2019

Area Residential Sn

Active Listings 01 CdA Area
Homes Sold/Closed YTD
Avg Days on Market November 1st, 2018 –
Median Sales Price 1526 Active Listings
Avg Sales Price 933 Homes Sold/Closed YT
SP/OLP 82 Avg Days on Market
$320,000 Median Sales Price
$360,000 Avg Sales Price
98% SP/OLP

Area 04 Rathdrum/Twin Lakes Area

Active Listings 569 Active Listings
Homes Sold/Closed YTD 336 Homes Sold/Closed YT
Avg Days on Market 103 Avg Days on Market
Median Sales Price $287,000 Median Sales Price
Avg Sales Price $328,000 Avg Sales Price
SP/OLP 99% SP/OLP

Area Athol/Bayview 06 NE Kootenai Co Area

Active Listings 105 Active Listings
Homes Sold/Closed YTD 48 Homes Sold/Closed YT
Avg Days on Market 90 Avg Days on Market
Median Sales Price Median Sales Price
Avg Sales Price $392,000 Avg Sales Price
SP/OLP $410,000 SP/OLP

97%

*Data provided by Cda MLS

ial Snap Shot 03 Hayden
9-August 31st , 2019
776
nap Shot 450
02 Post Falls Area 86
$358,000
– January 31, 2019 $422,000
1558 Active Listings 97%

TD 917 Homes Sold/Closed YTD
97 Avg Days on Market

$284,000 Median Sales Price
$314,000 Avg Sales Price

99% SP/OLP

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

41 Active Listings 207

TD 22 Homes Sold/Closed YTD 129

73 Avg Days on Market 88

$496,000 Median Sales Price $300,000

$472,000 Avg Sales Price $324,000

98% SP/OLP 98%

12 Silver Valley Area All Kootenai Co

383 Active Listings 5300

TD 210 Homes Sold/Closed YTD 2994

104 Avg Days on Market 93

$137,000 Median Sales Price $313,000

$154,000 Avg Sales Price $367,000

95% SP/OLP 96%

Residential Sales Compariso
All MLS

58
535 61

586

461 462

461 459

319311 307

324

Jan Feb March April May June

2014 Sold 2015 Sold 2016 Sold

*Data provided by CDA MLS

on Year over Year

722 676

83 653 691

17 590
585

530
388

July Aug Sept Oct Nov Dec

d 2017 Sold 2018 Sold 2019 Sold

Months of In
Kootenai Sit
June 1st ,2019 thro

350

300 288

250

201
200

149 148
150

109
98
100 90
77

59
51

50 4
19 15

122 333 6 1 0 1 1 2 2
0

Active Listings Sold Dur

nventory Analysis
te Built < 2 Acres
ough August 31st, 2019

40

32
26
4 1823 2 1715 21 12 18 21 754 21
2 3 97 66 11 53 61

5

ring Time Period Months of Inventory

Talking Points….

• Historically Fall is when the relatio
Sales is an advantage to a seller. N
market is slowing to match the num

• Currently new construction sales Y
the closed sales MLS wide.

• The premier buyer (above $500k) i
to make up approximately 14% of
buyers are between $500-1 mill)

onship between New listings and
New inventory coming onto the

mber of sales in the market.

YTD are approximately 22% of all

is up 2.8% from this time last year
the market. (12.5% of those

Months of In
CDA Site

June 1st , 2019 thr

100
95

90

80 77

70

60
60

50 36

41
40

30 26 27

25

21 22
20 20

14
12

10 6 7 99

21 1 1 1 1 2 2 3 3

0

Active Listings Sold Dur

*Data provided by Cda MLS

nventory Analysis
Built < 2 Acres
rough August 31st, 2019

21 21

5 443 452 5 010 3 2 000 10
32 00 11 0

ring Time Period Months of Inventory

Months of Inv
Residentia

June 1st ,2019 throu

40

36 36

35

30

25

21
20

15 15 15
15
14
13 12 12

10 9 9
8 8
5 6
5 5
5
0 2
1 11

00

Active Listings Sold Dur

*Data provided by Cda MLS

ventory Analysis
al Waterfront
ugh August 31st, 2019

21 21

18
15

9

6 6
5

33

2 2 122
11
1
00 00 0 00 00

ring Time Period Months of Inventory

Months of In
Kootenai Sit
June 1st ,2019 thro

350

300 288

250

201
200

149 148
150

110
98
100 90
77

58
51

50 4
19 15

122 333 6 1 0 1 1 2 2
0

Active Listings Sold Dur

nventory Analysis
te Built > 2 Acres
ough August 31st , 2019

40

32
26
4 1823 2 1715 21 12 18 21 754 21
2 3 97 66 11 53 61

5

ring Time Period Months of Inventory

Months of In
Post Falls Sit
June 1st, 2019 throu

140
127

120

100

80 77
72

60
52

48 47

40 30
40 24

20 19

5 1 2 3 24
0

0

Active Listings Sold Dur

nventory Analysis
te Built < 2 Acres
ugh August 31st , 2019

14 434 113 12 100 100
7 4

10 1

ring Time Period Months of Inventory

Months of Inv
Rathdrum Si
June 1st, 2019 thro

35

32

30

25

20 18

15 5
15 1

10 11
9
5 3
0 2
1
0 0

Active Listings Sold Dur

ventory Analysis
ite Built < 2 Acres
ough August 31st, 2019

8

5 6

44 2
1
23 2 3
0

ring Time Period Months of Inventory